Tree Island's C$19.75 million 10% convertibles start trading Thursday

By Devika Patel

Knoxville, Tenn., Feb. 3 - Tree Island Wire Income Fund said it has received final approval from the Toronto Stock Exchange to list its C$19.75 million of 10% second-lien convertible debentures due Nov. 26, 2014.

The securities were issued as part of the fund's recently completed rights offering and its Nov. 26 private placement.

The debentures are convertible into units at an initial conversion price of C$0.50 per unit. They will trade under the symbol "TIL.DB" beginning Thursday.

Tree Island is an open-ended, limited-purpose trust in Richmond, B.C.

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