Pinetree Capital Ltd. has acquired a $300,000 Convertible Debenture from ADB Systems International Ltd., giving it the potential to convert into a significant stake in the company.

Target Information

Pinetree Capital Ltd. has acquired a $300,000 Convertible Debenture from ADB Systems International Ltd. through a private placement transaction dated February 9, 2006. This debenture, referred to as the "ADB Debenture," is convertible into 2,000,000 common shares of ADB and an equivalent number of ADB warrants, each warrant entitling the holder to convert into one common share of ADB.

Upon the conversion of the ADB Debenture and the exercise of the ADB warrants, Pinetree will control approximately 5.4% of ADB's outstanding common shares on a partially diluted basis. If Pinetree and its joint actors exercise all of their convertible securities, their ownership could potentially increase to 14.2% of the total outstanding common shares of ADB.

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