Pinetree Capital increases stake in LeoNovus
Toronto-based private equity and venture capital firm Pinetree Capital has purchased 4 million common shares and 4 million warrants of LeoNovus Inc. As a result of the transaction, Pinetree now holds an aggregate of 10,186,500 common shares of the company, and up to 16.9 percent of total issued and outstanding shares if convertible securities are exercised. Based in Ottawa, Ontario and Sunnyvale, Calif., LeoNovus is an Internet and distributed cloud provider. Update: According to the company, the Pinetree deal helped generate gross investment proceeds of over $2 million.
23 January 2014•2 mins read
