WaterFurnace Renewable Energy, Inc. Suspends Future Dividends

FORT WAYNE, IN, July 3, 2014 /CNW/ - WaterFurnace Renewable Energy, Inc. ("WaterFurnace") (TSX: WFI; TSX: WFI.U) announces that it has determined to suspend future dividends pending the completion of the proposed transaction pursuant to the arrangement agreement (the "Arrangement Agreement") entered into with NIBE Industrier AB (publ) ("NIBE") which was announced on June 23, 2014.  Under the Arrangement Agreement, subject to certain conditions, NIBE will acquire 100% of the outstanding shares of WaterFurnace by way of a plan of arrangement under the Canada Business Corporations Act. Please refer to the joint press release issued June 23, 2014 for more information.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the completion of the arrangement with NIBE. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the ability to complete the arrangement, the receipt of necessary approvals, the ability to satisfy conditions to the arrangement, the ability to achieve the benefits of the arrangement and the risks identified in WaterFurnace's annual information form dated March 25, 2014. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. WaterFurnace disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: WaterFurnace Renewable Energy, Inc.