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Just Energy Group Announces Public Offering, Proceeds To Be Used To Address Maturing Instruments
January 27,2017 Just Energy Group Inc. announced that it has commenced a public offering of Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (the "Preferred Shares") pursuant to a preliminary prospectus supplement to its shelf registration statement on Form F-10, as amended through the date hereof, previously filed with the United States Securities and Exchange Commission (the "SEC"), and its short form base shelf prospectus filed in the Provinces of Canada. Just Energy has granted the underwriters a 30-day option, exercisable in whole or in part, to purchase additional Preferred Shares representing up to 15% of the aggregate number of Preferred Shares issued upon the closing of the offering. In addition, concurrently with the public offering of Preferred Shares, Just Energy intends to sell, on a non-brokered private placement basis, up to 400,000 Preferred Shares to one or more insiders of Just Energy at the same price per share as the Preferred Shares are sold to the public in the public offering, for gross proceeds of up to US$10 million. Just Energy intends to use the net proceeds of this offering for general corporate purposes, a majority of which will be applied to refinancing or repurchasing its 2018 and 2019 maturing instruments if determined appropriate by Just Energy, and for growth and working capital.
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