Valener announces a $29 million subscription of Gaz Metro units by way of private placement
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 03/31/17 -- Valener Inc. ("Valener") (TSX: VNR) (TSX: VNR.PR.A) is pleased to announce that it has completed the subscription of 1,318,291 Gaz Metro Limited Partnership ("Gaz Metro") units for approximately $29 million through Gaz Metro''s private placement at a price of $22.00 per unit. As part of Gaz Metro''s equity offering of approximately $100 million by way of private placement, both Valener and Gaz Metro inc. ("GMi") subscribed for a prorated amount of units based on their respective shares of units outstanding. Gaz Metro will use the proceeds of the offering to rebalance its capital structure and for general corporate purposes.
Overview of Valener
Valener is a widely held public company that serves as the investment vehicle in Gaz Metro. Through its investment in Gaz Metro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Quebec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Gaz Metro''s growth, and on the other, invests in wind power production in Quebec alongside Gaz Metro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener''s common and preferred shares are listed on the Toronto Stock Exchange under the symbols "VNR" for common shares and "VNR.PR.A" for Series A preferred shares. .
Overview of Gaz Metro and GMi
GMi mainly holds an economic interest of approximately 71% in Gaz Metro, for which it acts as the General Partner and a financing vehicle.
With more than $7 billion in assets, Gaz Metro is a leading energy provider. It is the largest natural gas distribution company in Quebec, where its network of over 10,000 km of underground pipelines serves more than 300 municipalities and more than 205,000 customers. Gaz Metro is also present in Vermont, where it has more than 315,000 customers. There, it operates through its subsidiaries in the electricity production market and the electricity and natural gas distribution market. Gaz Metro is actively involved in developing and operating innovative, promising energy projects, including natural gas as fuel, liquefied natural gas as a replacement for higher emission-producing energies, the production of wind and solar power, and the development of biomethane. Gaz Metro is a major energy sector player that takes the lead in responding to the needs of its customers, regions and municipalities, local organizations, and communities while also satisfying the expectations of its Partners (GMi and Valener) and employees. .
Photos, videos (b-roll) and logos are available in Gaz Metro''s .
Contacts:
Investors and analysts
Mariem Elsayed
Investor Relations
514-598-3253
Media
Marie-Christine Demers
Public Affairs and Communications
514-598-3449
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Datum: 31.03.2017 - 07:08 Uhr
Sprache: Deutsch
News-ID 1495999
Anzahl Zeichen: 2598
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MONTREAL, QUEBEC
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Alternative Energy
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