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Classified in: Oil industry, Business
Subject: STOCK/OTHER MARKET NEWS

Valener Announces Result of Conversion Notice on Cumulative Rate Reset Preferred Shares, Series A



MONTREAL, QUEBEC--(Marketwired - Oct. 3, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Valener Inc. ("Valener") (TSX:VNR)(TSX:VNR.PR.A) today announced that, after having taken into account all conversion notices received from holders of its outstanding Cumulative Rate Reset Preferred Shares, Series A ("Series A Shares") by the September 29, 2017 deadline for the conversion of the Series A Shares into Cumulative Floating Rate Preferred Shares, Series B ("Series B Shares"), less than the 1,000,000 Series A Shares required to give effect to conversions into Series B Shares were tendered for conversion. As a result, none of Valener's Series A Shares will be converted into Series B Shares on October 15, 2017.

Overview of Valener

Valener is a public company held entirely by its shareholders and serves as the investment vehicle in Gaz Métro. Through its investment in Gaz Métro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Québec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Gaz Métro's growth, and on the other, invests in wind power production in Québec alongside Gaz Métro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common shares and preferred shares are listed on the Toronto Stock Exchange under the "VNR" symbol for common shares and under the "VNR.PR.A" symbol for Series A preferred shares. www.valener.com.


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News published on 3 october 2017 at 14:03 and distributed by: