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Gaz Metro says it has completed an equity offering, by way of private placement, of 5 million new units from its treasury at a price of $15.00 per unit to Gmi (which holds an economic interest of approximately 71% in Gas Metro) and Valener Inc, based on their respective share of units outstanding, for aggregate gross proceeds of $75 million.

The proceeds of the offering will be used to fund a portion of the development of Green Mountain Power Corp.'s Kingdom Community Wind project - a 63 MW wind farm being built in Vermont - and for general corporate purposes.

GMi financed its subscription of new units by way of issuance of common shares to Noverco Inc. for gross proceeds of approximately $53 million.


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