Montreal, November 24, 2016
– Valener Inc. (“Valener”) (TSX: VNR) (TSX: VNR.PR.A), the public investment vehicle in Gaz Métro Limited Partnership (“Gaz Métro”), today reported adjusted net income attributable to common shareholders of $49.9 million for fiscal 2016, up $4.7 million, or 10.4%, from fiscal 2015. Adjusted net income per common share was $1.30 for fiscal 2016 compared to $1.18 in fiscal 2015. The increase was driven by a notable increase in Gaz Métro’s adjusted net income. In line with the seasonality of Gaz Métro’s results, Valener recorded an adjusted net loss attributable to common shareholders of $0.7 million ($0.02 per common share) in the fourth quarter of fiscal 2016 compared to an adjusted net loss of $3.7 million ($0.10 per common share) in the same period last year.
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