Le Lézard
Classified in: Business
Subject: BUSINESS CONTRACTS

Fortis Inc. Completes Sale of Aitken Creek Natural Gas Storage Facilities in British Columbia


This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022.

ST. JOHN'S, Newfoundland and Labrador, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) today announced that FortisBC Holdings Inc. has completed the sale of its 93.8% interest in the Aitken Creek Natural Gas Storage Facility in British Columbia and its 100% interest in the Aitken Creek North Gas Storage Facility (collectively "Aitken Creek") to a subsidiary of Enbridge Inc. (TSX/NYSE: ENB) for approximately $400 million plus working capital and closing adjustments, following the satisfaction of all regulatory requirements.

As indicated earlier this year, the sale of Aitken Creek further strengthens our balance sheet and provides additional funding flexibility to support our regulated utility growth strategy.

CIBC Capital Markets and Fasken acted as the exclusive financial and legal advisors, respectively, to Fortis.

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry with 2022 revenue of $11 billion and total assets of $66 billion as at September 30, 2023. The Corporation's 9,200 employees serve utility customers in five Canadian provinces, ten U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedarplus.ca, or www.sec.gov.

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/d9a61cf2-3d59-4578-b9cc-e7771096e18d

For further information contact

Investor Enquiries:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
248.946.3572
[email protected]
Media Enquiries:
Ms. Karen McCarthy
Vice President, Communications & Government Relations
Fortis Inc.
709.737.5323
[email protected]



These press releases may also interest you

21 jun 2024
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 5, 2024 to file lead plaintiff applications in a securities class action lawsuit against The...

21 jun 2024
The Prime Minister, Justin Trudeau, today issued the following statement on the passing of James K. Irving: "It is with sadness that I learned today of the passing of James K. Irving, a successful Canadian business leader and entrepreneur. "A proud...

21 jun 2024
TSX VENTURE COMPANIES NEX COMPANY BULLETIN V2024-1898 CHINA KELI ELECTRIC COMPANY LTD. ("ZKL.H")BULLETIN TYPE:  Reinstated for TradingBULLETIN DATE:  June 21, 2024NEX Company Further to the TSX Venture Exchange Bulletin dated January 9, 2023, the...

21 jun 2024
B2Gold Corp. ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the...

21 jun 2024
Global X Investments Canada Inc. ("Global X") is pleased to announce the distribution amounts per security (the "Distributions") for its exchange traded funds (the "ETFs"), for the period ending June 30, 2024, as indicated in the tables below. The...

21 jun 2024
The Minister of Diversity, Inclusion and Persons with Disabilities, the Honorable Kamal Khera, and the Minister for Women and Gender Equality and Youth, the Honorable Marci Ien, will be in Mississauga to announce investments in mental health support...



News published on and distributed by: