NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Northland Power Inc.
TSX SYMBOL: NPI
TSX SYMBOL: NPI.PR.A
TSX SYMBOL: NPI.PR.C
TSX SYMBOL: NPI.DB.A
TSX SYMBOL: NPI.DB.B
APRIL 10, 2014
Northland Power Renews Preliminary Base Shelf Prospectus
TORONTO, ONTARIO--(Marketwired - April 10, 2014) -
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.
Northland Power Inc. ("Northland")
(TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.PR.C)(TSX:NPI.DB.A)(TSX:NPI.DB.B) 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 enable Northland to offer an aggregate of up to $500 million of common
shares, preferred shares, debentures and subscription receipts, or any
combination thereof, over a 25-month period. Northland has no immediate
intention to issue securities as a result of this filing.
This filing is a renewal of Northland's existing short form base shelf
prospectus which maintains Northland's financial flexibility and provides
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 1,349 MW of operating
generating capacity, with an additional 110 MW (80 MW net to Northland) of
generating capacity currently in construction, and another 150 MW (79 MW net to
Northland) of wind and run-of-river hydro projects with awarded power
contracts. In addition, Northland has acquired the rights to a majority equity
stake in Gemini, a 600 MW off-shore wind project under development off the
coast of the Netherlands in the North Sea. Northland's cash flows are
diversified over five geographically separate regions and regulatory
jurisdictions in Canada, Europe and the United States.
Northland's common shares, Series 1 and Series 3 preferred shares and
convertible debentures trade on the Toronto Stock Exchange under the symbols
NPI, NPI.PR.A, NPI.PR.C, NPI.DB.A and NPI.DB.B, respectively.
This release contains certain forward-looking statements which are provided for
the purpose of presenting information about management's current
expectations and plans. Readers are cautioned that such statements may not be
appropriate for other purposes. Forward-looking statements include statements
that are predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects,"
"anticipates," "plans," "believes,"
"estimates," "intends," "targets,"
"projects," "forecasts" or negative versions thereof and
other similar expressions, or future or conditional verbs such as
"may," "will," "should," "would" and
"could." These statements may include, without limitation, statements
regarding plans for raising capital. These statements are based upon certain
material factors or assumptions that were applied in developing the
forward-looking statements, including management's current plans, its
perception of historical trends, current conditions and expected future
developments, as well as other factors that are believed to be appropriate in
the circumstances. Although these forward-looking statements are based upon
management's current reasonable expectations and assumptions, they are
subject to numerous risks and uncertainties. Some of the factors that could
cause results or events to differ from current expectations include, but are
not limited to, operational risks, foreign exchange rates, regulatory risks,
and the variability of revenues from generating facilities powered by
intermittent renewable resources and the other factors described in the
"Risks and Uncertainties" section of Northland's 2013 Annual
Report and Annual Information Form, both of which can be found at www.sedar.com
under Northland's profile and on Northland's website
www.northlandpower.ca. Northland's actual results could differ materially
from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur.
The forward-looking statements contained in this release are based on
assumptions that were considered reasonable on April 10, 2014. Other than as
specifically required by law, Northland undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after such date
or to reflect the occurrence of unanticipated events, whether as a result of
new information, future events or results, or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Northland Power Inc.
Manager, Investor Relations
Northland Power Inc.
Director of Finance
Northland Power Inc.
Fax: (416) 962-6266
INDUSTRY: Energy and Utilities - Alternative Energy, Energy and Utilities -
Utilities, Energy and Utilities - Pipelines
-0- Apr/10/2014 23:03 GMT
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