RCS - Polaris Renewable - Polaris Announces Fixed Income Meetings

S&P GlobalAnnouncement

08/11/2024 08:00

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RNS Number : 4794L  Polaris Renewable Energy Inc  08 November 2024

Polaris Renewable Energy Announces Fixed Income Meetings

 

TORONTO, ON / ACCESSWIRE / November 8, 2024 / Polaris Renewable Energy Inc.
(TSX:PIF) ("Polaris" or the "Company") announces today that it has engaged
Pareto Securities as lead manager to arrange a series of fixed income meetings
with potential eligible investors. Subject to market conditions and acceptable
terms, the Company may issue a rated five-year tenor green bond on a private
placement basis. The use of proceeds would be used to refinance certain
existing debt facilities, the acquisition of the Punta Lima wind farm in
Puerto Rico and other investments in renewable energy assets. S&P Global
Ratings is expected to provide corporate and instrument ratings. The
contemplated bond would be issued under the Company's green finance framework
with second-party opinion from Morningstar Sustainalytics.

The bonds have not been and will not be qualified for distribution in any
province or territory of Canada. Accordingly, the bonds may not be offered or
sold within any such province or territory except in transactions exempt from
the prospectus requirements of applicable securities laws. No securities
regulatory authority has either approved or disapproved the contents of this
press release. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the bonds in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any
such jurisdiction.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in
the development, construction, acquisition, and operation of renewable energy
projects in five countries in Latin America and the Caribbean.

The Company's operations include a geothermal plant (~82 MW), four run-of
river hydroelectric plants (~40 MW), three solar (photovoltaic) projects in
operation (~35 MW) and one wind park (26 MW) following closing of the Puerto
Rico acquisition.

For more information, contact:

Investor Relations

Polaris Renewable Energy Inc.

Phone: +1 647-245-7199

Email: 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, the issuance by the Company of any bonds, the expected use
of proceeds or rating(s) of any such issuance, and the Company's acquisition
and other investment plans. 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 ability of the Company to reach acceptable
terms for any issuance of bonds, 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, labour disputes and other risks of the geothermal and
hydro power industries; political instability or insurrection or war; labour
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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