RCS - Polaris Renewable - Polaris Renewable Energy Quarterly Dividend

Polaris Renewable EnergyAnnouncement

03/11/2022 12:45

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RNS Number : 2310F  Polaris Renewable Energy Inc  03 November 2022

Polaris Renewable Energy Declares Quarterly Dividend

TORONTO, ON / ACCESSWIRE / November 3, 2022 / Polaris Renewable Energy Inc.
(TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to
announce that its board of directors has declared a quarterly dividend of
US$0.15 per common share outstanding.

This dividend will be paid on November 25th, 2022, to shareholders of record
at the close of business on November 14th, 2022. The dividend is an "eligible
dividend" as designated for Canadian federal, provincial, and territorial
income tax purposes.

The board of directors of Polaris Renewable Energy remains committed to paying
a quarterly dividend and will evaluate further dividend increases, as
appropriate, going forward.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. (formerly, Polaris Infrastructure Inc.) is a
Canadian publicly traded company engaged in the acquisition, development, and
operation of renewable energy projects in the Americas. We are a
high-performing and financially sound contributor in the energy transition.

The Company's operations are in 5 Latin American countries and include a
geothermal plant (~72 MW), 4 run-of-river hydroelectric plants (39 MW), 1
solar (photovoltaic) project in operation (25 MWac) and 2 solar projects with
an expected total capacity of approximately 10 MWac, currently under
construction.

For more information, contact :

Investor Relations

Polaris Renewable Energy Inc.

Phone: +1 647-245-7199Email:

info@PolarisREI.com

Cautionary Statements

This press release contains certain "forward-looking information" which may
include, but is not limited to, statements with respect to future events or
future performance, management's expectations regarding the ability of the
Company to continue to pay dividends in the future.Such forward-looking
information reflects management's current beliefs and is based on information
currently available to management. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts", "predicts",
"intends", "targets", "aims", "anticipates" or "believes" or variations
(including negative variations) of such words and phrases or may be identified
by statements to the effect that certain actions "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved. A number of known
and unknown risks, uncertainties and other factors may cause the actual
results or performance to materially differ from any future results or
performance expressed or implied by the forward-looking information. Such
factors include, among others, the inability of the Company to pay or increase
dividends which may be affected by such factors as general business, economic,
competitive, political and social uncertainties; the actual results of current
geothermal, solar and hydro energy production, development and/or exploration
activities and the accuracy of probability simulations prepared to predict
prospective geothermal resources; changes in project parameters as plans
continue to be refined; possible variations of production rates; failure of
plant, equipment or processes to operate as anticipated; accidents, labor
disputes and other risks of the geothermal and hydro power industries;
political instability or insurrection or war; labor force availability and
turnover; delays in obtaining governmental approvals or in the completion of
development or construction activities, or in the commencement of operations;
the ability of the Company to continue as a going concern and general economic
conditions, as well as those factors discussed in the section entitled "Risk
Factors" in the Company's Annual Information Form. These factors should be
considered carefully and readers of this press release should not place undue
reliance on forward-looking information.

Although the forward-looking information contained in this press release is
based upon what management believes to be reasonable assumptions, there can be
no assurance that such forward-looking information will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. The information in this press
release, including such forward-looking information, is made as of the date of
this press release and, other than as required by applicable securities laws,
Polaris assumes no obligation to update or revise such information to reflect
new events or circumstances.

SOURCE: Polaris Renewable Energy Inc.

 

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