February 5, 2013 - Financial releases
Proceeds from the private placement will be loaned by GMi to Énergir on substantially similar terms as to interest rate and maturity, and will be used by Énergir for the refinancing of existing debt and for general corporate purposes. The funding of the Notes is anticipated to occur prior to April 30, 2013.
The Notes have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.
Overview of Valener
Valener Inc. (Valener) owns an economic interest of approximately 29% in Énergir. Valener therefore has a stake in the energy industry and benefits from Énergir's diversified profile, both in terms of geography and business segment. Valener also owns a 24.5% indirect interest in the wind power projects jointly developed with Énergir and Boralex Inc. on the private lands of Séminaire de Québec. Valener's common shares and preferred shares are listed on the Toronto Stock Exchange under the "VNR" trading symbol for common shares and under the "VNR.PR.A" symbol for Series A preferred shares. www.valener.com.
Overview of Énergir and GMi
GMi mainly holds an economic interest of approximately 71% in Énergir, for which it acts as the General Partner and a financing vehicle.
With more than $5 billion in assets, Énergir is a leading energy provider. It is the largest natural gas distribution company in Quebec, where its 10,000 km underground network of pipelines serves 300 municipalities and more than 185,000 customers. Énergir is also present in Vermont, producing electricity and distributing electricity and natural gas to cater to the needs to some 300,000 customers. Énergir is actively involved in the development of innovative, sustainability-oriented energy projects such as the production of wind power, the use of natural gas as a transportation fuel and the development of biomethane as a renewable energy source. Énergir is committed to ensuring the satisfaction of its customers, providing support to businesses, local organizations, families and communities, and meeting the needs of its partners (Énergir inc. and Valener) and employees.www.gazmetro.com
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