Regime de Rentes du Mouvement Desjardins

December 06, 2007 18:25 ET

Regime de Rentes du Mouvement Desjardins Acquires a Participation Interest in Innergex Renewable Energy Inc.

LEVIS, QUEBEC--(Marketwire - Dec. 6, 2007) - Regime de Rentes du Mouvement Desjardins ("RRMD") announced today that, concurrently with the closing of the initial public offering of Innergex Renewable Energy Inc. ("Innergex"), it has acquired, by way of private placement, ownership and control over 2,544,009 common shares of Innergex (the "Shares") representing approximately 10.8% of Innergex's currently outstanding Shares. This news release is being issued under the early warning provisions of Canadian provincial securities legislation.

RRMD has subscribed for the Shares for investment purposes only. Depending on market conditions and other factors that RRMD may deem material to its investment decisions, RRMD may in the future acquire Shares or other securities of Innergex, in the open market or in privately negotiated purchases or otherwise, and may also, depending on then current circumstances, dispose of all or a portion of the Shares or other securities of Innergex, in one or more transactions, in each case to the extent then permitted by applicable law and regulation.

RRMD, subject to certain exceptions, has agreed that it will not, without the prior consent of BMO Nesbitt Burns Inc. and CIBC World Markets Inc. (on behalf of the underwriters to the initial public offering of Innergex), which consent may not be unreasonably withheld, sell or issue Shares, or grant any options, warrants or other rights to acquire any Shares for a period of 12 months following the issuance of the Shares to RRMD.

Contact Information

  • Regime de Rentes du Mouvement Desjardins
    Francois Girouard
    Chief Investment Officer
    418-835-8444, ext. 8346