Boralex Announces Exercise of Over-Allotment Option in Connection with its Public Offering of 4.5% Convertible Unsecured Subordinated Debentures

/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MONTRÉAL, June 26, 2015 /CNW Telbec/ - Boralex Inc. (TSX: BLX) ("Boralex" or the "Corporation") announces that the over-allotment option has been exercised in connection with the previously announced public offering of 4.5% convertible unsecured subordinated debentures (the "Convertible Debentures") which closed on June 22, 2015 (the "Offering").

The syndicate of underwriters led by National Bank Financial Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Desjardins Securities Inc., Scotia Capital Inc. and Cormark Securities Inc. (collectively the "Underwriters"), has exercised the over-allotment option and purchased an additional $18,750,000 principal amount of Convertible Debentures (the "Option Convertible Debentures"). Following the exercise of the over-allotment option, the aggregate gross proceeds of the Offering will total $143,750,000.

The net proceeds from the sale of the Option Convertible Debentures will be used to fund future acquisitions, capital projects and for general corporate purposes. Such general corporate purposes could include, if the Corporation elects to do so, the redemption of the Corporation's existing 6.75% convertible unsecured subordinated debentures, which become redeemable at par starting on September 30, 2015, to the extent that such debentures have not been converted into common shares prior to their redemption date. The Convertible Debentures and the Option Convertible Debentures have been offered in all provinces of Canada by way of a short-form prospectus.

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 is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. With about 250 employees, Boralex is known for its diversified expertise and in-depth experience in four power generation types — wind, hydroelectric, thermal and solar. Currently, the Corporation operates in Canada, France and the United States an asset base with a capacity of more than 1,140 MW, of which over 970 MW are under its control. Boralex is also developing, both independently and with partners, a number of energy projects of over 150 MW of power that will be commissioned by the end of 2017. Boralex's shares, 6.75% convertible debentures and 4.5% convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX, BLX.DB 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. Securities may not be sold in the United States absent registration or an exemption from registration.

Caution regarding forward-looking statements

Some of the statements contained in this press release, including those regarding future results and performance and use of proceeds of the Offering, 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 main factors that could lead to a material difference between the Corporation's actual results and the projections or expectations set forth in the forward-looking statements include, but are not limited to, the general impact of economic conditions, raw material price increases and availability, currency fluctuations, volatility in the selling price of energy, the Corporation's financing capacity, negative changes in general market conditions and regulations affecting the industry, as well as other factors discussed in the Corporation's filings with the various securities commissions.

Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made.

There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. 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.

Media: Patricia Lemaire, Director, Public Affairs and Communications, Boralex Inc., 514-985-1353, [email protected]; Investors: Marc Jasmin, Director, Investor Relations, Boralex Inc., 514-284-9868, [email protected]