Northland Power Renews Preliminary Base Shelf Prospectus
May 15, 2018
Not for distribution to U.S. newswire services or for dissemination in the United States or its possessions. Any failure to comply with this restriction may constitute a violation of U.S. securities law.
TORONTO, May 15, 2018 — Northland Power Inc. (“Northland” or the “Company”) (TSX:NPI) today filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada. This filing, when made final, will replace Northland’s expiring $500 million base shelf prospectus and will enable Northland to offer an aggregate of up to $1 billion of debentures, preferred shares, common shares and subscription receipts, or any combination thereof, over a 25-month period.
Northland has no immediate intent to issue securities as a result of this renewal filing. The increase in size from $500 million to $1 billion is commensurate with the relative growth in Northland’s enterprise value since the first $500 million base shelf prospectus was filed in 2012.
This renewal filing of Northland’s existing short form base shelf prospectus maintains Northland’s financial flexibility and shall provide efficient access to the Canadian capital markets when capital is required.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. All sales will be made through registered securities dealers in jurisdictions where an offering has been qualified for distribution.
Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates facilities that produce ‘clean’ (natural gas) and ‘green’ (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.
The Company owns or has a net economic interest in 2,029 MW of operating generating capacity and 252 MW of generating capacity under construction, representing the Deutsche Bucht offshore wind project, in addition to the 300 MW (net 180 MW) just awarded to the Hai Long 2 offshore wind project. Northland’s cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe.
Northland’s common shares, Series 1, Series 2 and Series 3 preferred shares and Series B and Series C convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C, respectively.
For further information, please contact:
Barb Bokla, Manager, Investor Relations, (647) 288-1438