Last C$0.06 CAD
Change Today -0.015 / -20.00%
Volume 8.9M
PNP On Other Exchanges
Symbol
Exchange
OTC US
Frankfurt
As of 3:59 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

pinetree capital ltd (PNP) Snapshot

Open
C$0.07
Previous Close
C$0.08
Day High
C$0.08
Day Low
C$0.06
52 Week High
03/13/14 - C$0.66
52 Week Low
01/28/15 - C$0.06
Market Cap
12.1M
Average Volume 10 Days
2.7M
EPS TTM
C$-0.16
Shares Outstanding
201.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for PINETREE CAPITAL LTD (PNP)

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pinetree capital ltd (PNP) Details

Pinetree Capital Ltd. is a venture capital firm specializing in early stage investments in micro and small cap companies. The firm prefers to invest in the resources sector: uranium, coal, oil and gas, precious metals, base metals, potash, lithium, rare earths, molybdenum; energy related technology; technology; and biotechnology sectors. Pinetree Capital Ltd. was founded in 1992 and is based in Toronto, Canada.

17 Employees
Last Reported Date: 03/6/14
Founded in 1992

pinetree capital ltd (PNP) Top Compensated Officers

Interim Chief Executive Officer
Total Annual Compensation: C$97.5K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$165.0K
Compensation as of Fiscal Year 2013.

pinetree capital ltd (PNP) Key Developments

Pinetree Capital Ltd. Announces Management Changes

Pinetree Capital Ltd. announced that it has reached an agreement with certain holders of its 10% convertible unsecured subordinated debentures due May 31, 2016 in respect of the company’s existing default of the debt covenant contained in the debenture indenture governing the Debentures, which prohibits Pinetree’s debt-to-assets ratio from exceeding 33% as at the end of each month. As of January 23, 2015, the current default of the Covenant became an “Event of Default” under the Indenture when the default was neither cured nor waived by that date. The company and the Supporting Debentureholders, who collectively hold in excess of $39 million principal amount of the Debentures, representing over 71% of the $54.822 million principal amount of the Debentures outstanding, have executed a term sheet which provides, subject to the satisfaction of certain conditions, that the Supporting Debentureholders will not, until the earlier of the execution of a forbearance agreement and January 30, 2015, exercise any rights or remedies that they may have under the Indenture or otherwise in respect of the existing Event of Default, and will direct the trustee to cancel any declaration that may be made by the trustee that the principal of and interest on the Debentures is due and payable in connection with the Event of Default. The term sheet contemplates a Forbearance Agreement which will contain the following terms: the Supporting Debentureholders will have the right to nominate up to three directors to the company’s board of directors; two of whom will constitute an investment oversight committee to be established by the company; the company will grant security over its assets in favour of all holders of the Debentures; the company will utilize at least $20 million to reduce the aggregate principal amount of the outstanding Debentures by July 31, 2015, and will be subject to a debt-to-assets ratio of 50% (in lieu of 33%) for the three-month period of July through September; the Indenture will be amended to remove restrictions on the company’s redemption rights, subject to the approval of the Toronto Stock Exchange; and the trustee and the Debenture holders will refrain from exercising any rights or remedies that they may have against the company under the Indenture or otherwise, as a result of the current default and any subsequent default in respect of the Covenant occurring up to October 31, 2015. In connection with the execution of the Forbearance Agreement, each of Messrs. Roger Rai, Sheldon Inwentash and Marshall Auerback will resign from the board of directors of the company. As well, Mr. Inwentash will resign as Chairman and CEO of the company. Richard Patricio, the company’s Vice-President, Corporate and Legal Affairs will assume the responsibilities of Interim CEO.

Pinetree Capital Ltd., Special/Extraordinary Shareholders Meeting, Jan 22, 2015

Pinetree Capital Ltd., Special/Extraordinary Shareholders Meeting, Jan 22, 2015.

Pinetree Capital Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Pinetree Capital Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net loss of $27 million, as compared to a net profit of $13 million for the same quarter last year. Net loss was primarily the result of net investment loss of $22 million, comprised of $15 million in net realized losses on disposals of investments and unrealized losses on investments of $7 million. Basic loss per share was $0.13 as compared to basic earnings per share of $0.09 for the three months ended September 30, 2013. For the nine months, the company had a net profit of $6 million, as compared to a net loss of $97 million for the same period last year. Net profit was primarily the result of net investment gains of $19 million, comprised of $353 million in unrealized gains on investments offset by realized losses on dispositions of investments of $334 million. Basic earnings per share was $0.04 as compared to basic loss per share of $0.68 for the nine months ended September 30, 2013. Net asset value per share was $0.63 as at September 30, 2014, a 3% decrease from the December 31, 2013 NAV of $0.65.

 

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