Boralex Inc. and Cascades Energie Inc. Announces a Special Meeting of its Shareholders.MONTREAL--(BUSINESS WIRE)--Nov. 16, 1995--BORALEX INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME:BLX BLX Business Line Expert BLX Basic Launch Complex BLX British Legion of Xbox (gaming clan) .A) CASCADES ENERGIE INC. (ME,TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAS) Boralex Inc. announces today that a special meeting of its shareholders will be held on December 20, 1995 in order for the shareholders to ratify ratify v. to confirm and adopt the act of another even though it was not approved beforehand. Example: An employee for Holsinger's Hardware orders carpentry equipment from Phillips Screws and Nails although the employee was not authorized to buy anything. the various transactions contemplated by the agreement signed on October 27, 1995 among Boralex Inc., the shareholders of 3089-8183 Quebec Inc. and Cascades Energie Inc. The record date for the purposes of this meeting has been set as November 15, 1995 and it is expected that the Boralex's management proxy circular will be mailed on or around November 24, 1995. As previously announced, Boralex Inc. has agreed to acquire the electricity producing assets of Cascades Energie Inc. as well as 3089-8183 Quebec Inc.'s interest in Megener Inc., a corporation owned in equal parts by Boralex Inc. and 3089-8183 Quebec Inc. This transaction is subject to the usual conditions, including a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review to be completed within 30 days, and the approval of various regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , including the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg . For the purposes of the proposed transaction, the electricity producing assets of Cascades Energie Inc. have been valued at $32,982,000 and the assets of the shareholders of 3089-8183 Quebec Inc. at $3,635,000. The assets of Cascades Energie Inc and those of 3089-8183 Quebec Inc.will be acquired in consideration of the issue of common shares of Boralex Inc. Upon the completion of the transaction, Megener Inc. will become a wholly-owned subsidiary of Boralex Inc. and Cascades Energie Inc. will be hold 82.5 percent, the shareholders of 3089-8183 Quebec Inc. will hold 10 percent and the current shareholders of Boralex Inc. will hold 7.5 percent of the issued and outstanding common shares of Boralex Inc. In connection with the foregoing, Boralex Inc. has also agreed to pay its shareholders of record before the completion of the transaction a dividend of $1,155,000 or $0.0922 per share on the 12,525,315 common shares currently outstanding. In light of the significance of this transaction on the operations of Boralex Inc., the Montreal Exchange has halted trading on the shares of Boralex Inc. The shares will resume trading once Boralex Inc. has satisfied the listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of the Montreal Exchange. The common shares of Boralex Inc. have been listed on the Montreal Exchange since 1984. Until 1991, its principal activity was the acquisition and development of oil properties located in Alberta. Since 1991, it has concentrated its efforts towards the development of hydroelectric projects. To that end, it incorporated Megener, which it owns equally with 3089-8183 Quebec Inc., a private company. Megener Inc. currently operates two power stations: Hydraska (St-Hyacinthe) Inc. having a capacity of 2.4 MW power and Hydraska (St-Lambert) Inc., having a capacity of 6 MW. Cascades Energie Inc., with its head office at Kingsey-Falls, is a major private electricity producer in Quebec. It has interests in a 4.2 MW power station on the Montmorency river in Beauport, a 1.5 MW station on the Saint-Francois river in the municipality MUNICIPALITY. The body of officers, taken collectively, belonging to a city, who are appointed to manage its affairs and defend its interests. of East-Angus and a 9.8 MW station on the Lievre river in the municipality of Buckingham. Cascades Energie Inc. also owns 50 percent of a 32 MW co-generation plant located in Kingsey-Falls. Pursuant various management contracts, Cascades Energie Inc. also operates eight hydroelectrical stations on the Sault-au-Cochon river in Forestville, the Jacques-Cartier river The Jacques-Cartier River is a river in the province of Quebec, Canada. It is 161 km long and its source is Jacques-Cartier Lake in Laurentides Wildlife Reserve, and flows in a predominantly southern direction before ending in the Saint Lawrence River at Donnacona, about 30 km in Donnacona, the Nicolet river in Sainte-Brigitte-des-Saults, the Winneway river in the municipality of Laforce and the St-Francois river in Windsor. These eight stations have a total a production capacity exceeding 30 MW. Cascades Energie Inc is a wholly-owned subsidiary of Cascades Inc., the head office of which is also located in Kingsey-Falls in Quebec. This consolidation will contribute to the development of several other hydroelectric projects in Quebec and throughout the rest of Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . It is expected that the new business combination will give Cascades Energie Inc. and Boralex Inc. a competitive advantage for the next few years. In addition, the geographic diversification of the various power stations will reduce the overall exposure to hydrologic risks and ensure a greater stability in revenues. CONTACT: Boralex Inc. Yvon Renaud, 514/871-8233 President and Chief Executive or Cascades Energie Inc. Jacques Gauthier Jacques Gauthier is a vertebrate paleontologist and systematist, and one of the founders of the use of cladistics in paleontology. He received a BS in Zoology at San Diego State University in 1973, a Masters of Science at the same institute in 1980, and a PhD in Paleontology , 514/282-2634 Executive Vice-President |
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