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Just Energy Announces Closing of $100M Convertible Unsecured Senior Subordinated Debentures

February 23,2018



Just Energy Group Inc. (“Just Energy” or the "Company") announced that it has closed its previously announced $100,000,000 (all $ Canadian) public offering (the “Offering”) of convertible unsecured senior subordinated debentures (the “Debentures”) at a price of $1,000 per Debenture, bearing interest at 6.75% per annum and maturing on March 31, 2023 (the “Maturity Date”).

Each $1,000 principal amount of the Debentures is convertible at the option of the holder at any time prior to the close of business on the last business day immediately preceding the earlier of the Maturity Date and the date fixed for redemption, into 112.3596 common shares of Just Energy, representing a conversion price of $8.90 per common share, subject to certain anti-dilution adjustments. The Debentures are listed on the Toronto Stock Exchange under the symbol JE.DB.D.

Just Energy also announced today that it will redeem on March 27, 2018 (the “Redemption Date”) its 5.75% Convertible Debentures scheduled to mature on September 30, 2018 (TSX:JE.DB.B) (the “Redemption Debentures”). On the Redemption Date, Just Energy will pay in cash to the holders of Redemption Debentures a redemption price equal to $1028.0411 for each $1,000 principal amount of Redemption Debentures, being equal to the aggregate of $1,000 plus all accrued unpaid interest thereon to but excluding the Redemption Date, in each case less any taxes required to be deducted or withheld. Formal notice of redemption is being delivered to the holders of Redemption Debentures in accordance with the terms of the trust indenture governing such debentures.

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