/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
MONTRÉAL, Dec. 23, 2016 /CNW
Telbec/ - Boralex Inc. (TSX: BLX) ("Boralex" or the
"Corporation") today announced that it has closed its
previously announced public offering of subscription receipts of
Boralex (the "Subscription Receipts"), for gross proceeds of
approximately $172,518,975 (the
"Offering"), which includes the full exercise of the
over-allotment option by the Underwriters (as defined below).
The Offering was completed through a syndicate of underwriters
led by National Bank Financial Inc. and RBC Capital Markets, and
including BMO Nesbitt Burns Inc., CIBC World Markets Inc.,
Desjardins Securities Inc., TD Securities Inc., Cormark Securities
Inc., Industrial Alliance Securities Inc. and Raymond James Ltd.
(collectively the "Underwriters"), who have purchased, on a
bought deal basis, an aggregate of 10,361,500 Subscription Receipts
of the Corporation at a price of $16.65 per Subscription Receipt.
The Subscription Receipts were offered by way of a short form
prospectus dated December 16, 2016 in
all of the provinces of Canada.
The Subscription Receipts are exchangeable on a one-for-one basis
for class A shares of Boralex (the "Common Shares"), for no
additional consideration or further action, upon closing of the
acquisition by Boralex of all of Enercon Canada Inc.'s economic
interest in the 230 MW Niagara Region Wind Farm, for a total cash
consideration of $238.5 million,
subject to adjustments under the acquisition agreements (the
"Transaction"). The net proceeds of the Offering will be
used to fund a portion of the purchase price for the
Transaction.
The Transaction remains subject to customary regulatory
approvals and closing conditions, and is expected to close in
January 2017.
The securities that were sold have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and were not offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
About Boralex
Boralex develops, builds and
operates renewable energy power facilities in Canada, France and the
United States. A leader in the Canadian market and
France's largest independent
producer of onshore wind power, the Corporation is recognized for
its solid experience in optimizing its asset base in four power
generation types — wind, hydroelectric, thermal and solar. Boralex
ensures sustained growth by leveraging the expertise and
diversification developed over the past 25 years. Boralex's shares
and convertible debentures are listed on the Toronto Stock Exchange
under the ticker symbols BLX and BLX.DB.A, respectively. More
information is available at www.boralex.com
or www.sedar.com.
This press release is not an offer of securities for sale in
the United States. The
subscription receipts have not been registered under the U.S.
Securities Act and may not be sold in the
United States absent registration or an applicable exemption
from registration requirements.
Caution regarding forward-looking
statements
Some of the statements contained in this
press release, including those regarding use of proceeds of the
Offering and closing of the Transaction, are forward-looking
statements based on current expectations, within the meaning of
securities legislation. Boralex would like to point out that, by
their very nature, forward-looking statements involve risks and
uncertainties such that its results or the measures it adopts could
differ materially from those indicated by or underlying these
statements, or could have an impact on the degree of realization of
a particular projection. Boralex considers the assumptions on which
these forward-looking statements are based to be reasonable at the
time they were prepared, but cautions that these assumptions
regarding future events, many of which are beyond the control of
the Corporation, may ultimately prove to be incorrect.
The reader is cautioned not to place undue reliance on such
forward-looking statements. Unless required to do so under
applicable securities legislation, Boralex management does not
assume any obligation to update or revise forward-looking
statements to reflect new information, future events or other
changes.
SOURCE Boralex Inc.