Fortis Inc. Announces Extension of Deadline for Exchange of Subscription Receipts

Fortis Inc. Announces Extension of Deadline for Exchange of Subscription 
Receipts 
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 06/20/13 --
Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced today
that the holders of its outstanding subscription receipts (the
"Subscription Receipts") have approved the extension of the deadline
for exchanging the Subscription Receipts from 5:00 p.m. (Toronto
time) on June 30, 2013 until 5:00 p.m. (Toronto time) on August 30,
2013.  
The extended deadline was approved by extraordinary resolution at a
meeting of the holders of Subscription Receipts held today, with
99.98% of the holders of Subscription Receipts present in person or
represented by proxy at the meeting voting in favour of such
extension. The subscription receipt agreement dated as of June 27,
2012 (the "Subscription Receipt Agreement"), which governs the terms
of the Subscription Receipts, was also amended today to reflect the
extended deadline.  
The Subscription Receipts were issued by Fortis to partially finance
its acquisition (the "Acquisition") of CH Energy Group, Inc. ("CH
Energy"), an energy delivery company headquartered in Poughkeepsie,
New York. As previously announced, the New York State Public Service
Commission (the "NYSPSC") recently, in a unanimous vote, approved the
Acquisition. The NYSPSC is expected to issue its official written
order approving the Acquisition the week of June 23, 2013. Closing of
the Acquisition is expected to occur shortly after receipt, review
and acceptance of the official written order. 
Further information regarding the Acquisition and the Subscription
Receipts, including copies of the Subscription Receipt Agreement, as
amended, and the materials sent to the holders of Subscription
Receipts in connection with today's meeting, is available under the
Corporation's issuer profile at www.sedar.com. 
About Fortis  
Fortis is the largest investor-owned distribution utility in Canada,
with total assets of more than $15 billion and fiscal 2012 revenue
totaling approximately $3.7 billion. The Corporation serves more than
2 million gas and electricity customers. Its regulated holdings
include electric distribution utilities in five Canadian provinces
and two Caribbean countries and a natural gas utility in British
Columbia, Canada. Fortis owns and operates non-regulated generation
assets in Canada, Belize and Upstate New York. The Corporation also
owns hotels across Canada and commercial office and retail space
primarily in Atlantic Canada. Additional information can be accessed
at www.fortisinc.com or under Fortis' issuer profile at
www.sedar.com. 
Forward Looking Information 
Fortis includes forward-looking information in this press release
within the meaning of applicable securities laws in Canada
("forward-looking information"). The purpose of the forward-looking
information is to provide management's expectations regarding the
completion of the Acquisition, the satisfaction of the release
conditions applicable to the Subscription Receipts and the expected
timing and benefits thereof, the Corporation's future growth, results
of operations, performance, business prospects and opportunities, and
it may not be appropriate for other purposes. All forward-looking
information is given pursuant to the safe harbour provisions of
applicable Canadian securities legislation. The words "anticipates",
"believes", "budgets", "could", "estimates", "expects", "forecasts",
"intends", "may", "might", "plans", "projects", "schedule", "should",
"will", "would" and similar expressions are often intended to
identify forward-looking information, although not all
forward-looking information contains these identifying words. The
forward-looking information reflects management's current beliefs and
is based on assumptions developed using information currently
available to the Corporation's management. Although Fortis believes
that the forward-looking statements are based on information and
assumptions which are current, reasonable and complete, these
statements are necessarily subject to a variety of risks and
uncertainties. For additional information on risk factors that have
the potential to affect the Corporation, reference should be made to
the Corporation's continuous disclosure materials filed regularly
with Canadian securities regulatory authorities and to the heading
"Business Risk Management" in the Corporation's annual and quarterly
Management Discussion and Analysis. Except as required by law, the
Corporation undertakes no obligation to revise or update any
forward-looking information as a result of new information, future
events or otherwise after the date hereof.
Contacts:
Mr. Barry Perry
Vice President, Finance and Chief Financial Officer
Fortis Inc.
(709) 737-2822
 
 
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