Fortis Statement on Waneta Dam Agreement
Post# of 617763
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Aug. 1, 2017) - Fortis Inc. ("Fortis"), (TSX:FTS)(NYSE:FTS) has been given notice from Teck Resources Limited ("Teck") that BC Hydro has exercised its right of first offer to acquire Teck's two-thirds interest in the Waneta Dam. As a result, the purchase agreement between Fortis and Teck has been terminated and Teck will pay Fortis a break fee of approximately $28,000,000.
About Fortis
Fortis is a leader in the North American regulated electric and gas utility industry with total assets of approximately $48 billion. The Corporation's 8,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
Fortis shares are listed on the Toronto Stock Exchange and New York Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com , www.sedar.com , or www.sec.gov .
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