Énergir Announces an Equity Offering of Énergir, L.P. of a Total Amount of $150 Million By Way of Private Placement

MONTREAL, March 22, 2024 (GLOBE NEWSWIRE) -- Énergir Inc., General Partner of Énergir, L.P. is pleased to announce that Énergir, L.P. completed today an equity offering, by way of private placement, by issuing 6,521,739 new units at a price of $23.00 per unit to Énergir Inc. and Énergir Development Inc., prorated based on each entity's respective share of units outstanding, for aggregate gross proceeds of approximately $150 million.

The proceeds of this offering will be used to rebalance Énergir L.P.'s capital structure by the repayment of a portion of its secured term credit.

About Énergir Inc. and Énergir, L.P.

Énergir Inc. mainly holds a 71.0% interest in Énergir, L.P., for which it acts as the General Partner.

With more than $10 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec; through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind, and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services.