Pinetree Capital Ltd.: Pinetree Capital Announces Expiry of Exercise Period of Rights Offering
TORONTO, ON / ACCESSWIRE / May 13, 2021 /
Pinetree Capital Ltd. (TSX:PNP) (
Pinetree ) today announced the expiry of the exercise period in respect of its previously announced rights offering. All unexercised rights expired at 5:00 p.m. (Toronto time) on May 13, 2021 (the
Expiry Time ) and are now void and of no value.
The rights offering was over-subscribed
and will result in the issuance of 9,420,198 common shares of Pinetree (
Common Shares ), representing 100% of the currently issued and outstanding Common Shares. On closing, Pinetree expects to receive gross offering proceeds of approximately C$17.4 million, the net proceeds of which will be used by Pinetree for general corporate purposes, including to make additional investments. Closing of the rights offering is expected to be completed on or about May 17, 2021.
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TORONTO, ON / ACCESSWIRE / March 5, 2021 / Pinetree Capital Ltd. (TSX:PNP) ( Pinetree or the Company ) is pleased to announce that Mr. Shezad Okhai will be joining the Company as an Investment Manager in April of 2021. Mr. Okhai has worked as a Vice President at Volaris Group for the past 10 years and is an experienced public equities investor in the technology sector.
Pinetree also announced today that it entered into an agreement with Mr. Okhai to effect a non-brokered private placement (the Offering ) pursuant to which the Company will issue 375,000 common shares of the Company to Mr. Okhai at a price of $2.00 per common share, for aggregate gross proceeds to the Company of $750,000. The Offering price represents an approximate 4.5% discount to the 5-day volume-weighted average trading price of Pinetree s common shares traded on the TSX. The Company intends to use the net proceeds from the Offering for general corporate purposes, including to make additional investments.
Pinetree Capital Ltd.: Pinetree Capital Ltd Announces Audited Financial Results For The Year Ended December 31, 2020
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Shares Outstanding and Book Value amounts are as at the Quarter End date
Operating Expenses amounts are for the Three months ending the Quarter End date
2 Operating Expenses do not include Foreign Exchange gain (loss) on financial assets other than investments
As at December 31, 2020, Pinetree s BVPS was $2.11 as compared to $1.98 as at December 31, 2019, representing an increase of $0.13 or 6.6%. The increase was primarily attributable to net investment gains, net dispositions in the investment portfolio, and other income from dividends and interest which out-paced the Company s expenses during the period.