DEDHAM, Mass., Oct. 1, 2018 /CNW/ -- Atlantic Power Corporation
(NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") announced
today the receipt of exemptive relief from the securities
regulatory authorities in each of the provinces and territories of
Canada to allow the purchase of up
to 10% of its public float of common shares through the facilities
of the New York Stock Exchange (the "NYSE") and other trading
systems based in the United States
(collectively with the NYSE, the "U.S. Markets") as part of the
Company's normal course issuer bid announced on December 20, 2017 (the "NCIB"). Absent the
exemptive relief, purchases under the NCIB on markets other than
the Toronto Stock Exchange (the "TSX") were limited to a maximum of
5% of Atlantic Power's issued and outstanding common shares.
A substantial majority of the trading volume of the Company's
common shares occurs through the U.S. Markets.
Pursuant to the exemptive relief, which applies to normal course
issuer bids of Atlantic Power commenced within a period of 36
months from the date of the exemptive relief, purchases of common
shares through the U.S. Markets are required to be made in
compliance with U.S. rules governing normal course issuer bids,
Part 6 (Order Protection) of National Instrument 23-101
Trading Rules, and at a price which is not higher than the
price of the last standard trading unit of common shares
purchased.
Atlantic Power will file an amended notice of intention with the
TSX to reflect the exemptive relief.
The exemptive relief order was issued on September 27, 2018. A copy of the order has
been filed under Atlantic Power's profile at
www.sedar.com.
About Atlantic Power
Atlantic Power is an independent power producer that owns power
generation assets in nine states in the
United States and two provinces in Canada. The
generation projects sell electricity and steam to investment-grade
utilities and other creditworthy large customers predominantly
under long‑term PPAs that have expiration dates ranging from 2019
to 2037. The Company seeks to minimize its exposure to
commodity prices through provisions in the contracts, fuel supply
agreements and hedging arrangements. The projects are
diversified by geography, fuel type, technology, dispatch profile
and offtaker (customer). The majority of the projects in
operation are 100% owned and directly operated and maintained by
the Company. The Company has expertise in operating most fuel
types, including gas, hydro, and biomass, and it owns a 40%
interest in one coal project.
Atlantic Power's shares trade on the New York Stock Exchange
under the symbol AT and on the Toronto Stock Exchange under the
symbol ATP. For more information, please visit the Company's
website at www.atlanticpower.com or contact:
Atlantic Power Corporation
Investor Relations
(617) 977-2700
info@atlanticpower.com
Copies of the Company's financial data and other publicly filed
documents are available on SEDAR at www.sedar.com or on EDGAR at
www.sec.gov/edgar.shtml under "Atlantic Power Corporation" or on
the Company's website.
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SOURCE Atlantic Power Corporation