TriSummit Utilities Inc. is approved by the Alaska Regulatory Commission for the acquisition of Alaska Utilities Business

Calgary, Alberta– (Newsfile Corp. – December 22, 2022). TriSummit Utilities Inc. (TSU) announced that the Regulatory Committee of Alaska (the ‘RCA”) approved the joint application by its wholly owned United States subsidiary, Alaska Utility Holdings Inc. (“AUHI”) and SEMCO Energy, Inc. (“SEMCO”), a United States subsidiary AltaGas Ltd. for AUHI (the ‘Acquisition”) ENSTAR Natural Gas Storage Alaska, LLC (“Alaska Utilities Business”), LLC (“Alaska Utilities Business”), LLC (“Alaska Utilities Business”), LLC (“Alaski Utilities Business”), LLC (“Alaska Utilities Business”), LLC (“Alaska Utilities Business” from SEMCO), subject to certain conditions and to comply with post-closing filingsing requirements and customary filings to SEMCO, including some of the “Alaska Utilities Business”) from SEMCO, LLC”), LLC (“Alaska Utilities Business”), LLC (“Alaska Utilities Business”), LLC (“Alities Business”) from SEMCO,subject to ensuresing filings, “Alaska Utilities Business” to be filed to SEMCO,, s, s, including certain, and post-closing, including.

TSU announced, on May 26, 2022: that AUHI had reached a definitive deal with SEMCO. This agreement would allow AUHI to acquire Alaska Utilities Business at approximately C$1billion (US$800m). Customary closing adjustments may apply. The Acquisition’s last regulatory closing condition was to receive RCA approval. Other customary closing conditions remain applicable to the Acquisition, which is expected to close on February 28, 2023.

TSU

TSU, a Canadian company, has natural gas distribution utilities and assets for renewable power generation. TSU provides low-carbon energy to approximately 133,000 customers in Canada.

For more information, visit: www.trisummit.ca.

Contact Us for More Information

TriSummit Utilities Inc.
[email protected]

FORWARD LOOKING INFO

Forward-looking statements can be found in this press release. Forward-looking statements are identified by the use of words such as “may”, “would”, “could”,” “intend”, [plan], “anticipate], “believe”,,”seek”, [estimate], “expect”, etc., in this press release if they relate to TSU and an affiliate thereof]. This press release includes forward-looking statements, including those regarding, among others, the acquisition closing. These statements are subject to known and unknown risks and uncertainties. Actual results and events may differ materially from those predicted in forward-looking statements. These statements represent TSU’s current views regarding future events and are based on certain factors and assumptions. They also involve risks and uncertainties such as changes in the market, competition, general economic conditions, and other factors that TSU has disclosed in its public disclosure documents. TSU’s actual performance, achievements, and results could vary depending on many factors, including those mentioned above. These factors should not be taken as exhaustive. You should not rely on forward-looking statements or any of these factors if they are incorrect. These statements are made as of the date this press release. TSU is not planning to, or under any obligation to, update these forward-looking statements. This cautionary statement is intended to disqualify forward-looking statements included in this press release.

NOT FOR DISTRIBUTION IN THE UNITED STATES NEWS WIRES SERVICES, NOR DISSEMINATION IN UNITED STATES.

You can view the source version by visiting https://www.newsfilecorp.com/release/149238