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Northland Power Announces Closing of $150 Million of Convertible Debentures

By: Lewis Holdsworth 23/01/2015 Northland Power

General Windfarms

Northland Power Inc are pleased to announce the closing of the previously announced bought deal offering (the "Offering") of $150,000,000 aggregate principal amount of 4.75% convertible unsecured subordinated debentures, series C (the "Debentures"). The Debentures commence trading on the TSX today under the symbol NPI.DB.C.

Northland intends to use the net proceeds of the Offering to fund a portion of its investments in the 332 megawatt (282 megawatt net to Northland) offshore wind development project located approximately 40 kilometers north of Juist Island in German territorial waters in the North Sea ("Nordsee One") and the Grand Bend wind farm in Ontario, to replenish working capital and for general corporate purposes.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

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Northland Power Announces Closing of $150 Million of Convertible Debentures

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