EnerCare Inc. Announces Expansion of Commercial Rental Program to Nova Scotia and Intention to Repay its $60,000,000 6.20% Series 2009-1 Senior Notes
TORONTO, ONTARIO -- (Marketwire) -- 04/24/12 --
EnerCare Inc. ("EnerCare") (TSX: ECI) today announced that it, through its service provider, Direct Energy Marketing Limited, will be originating commercial water heaters and HVAC equipment in Nova Scotia.
"We are very pleased to be able to build on last year's successful rental program introduction in New Brunswick by pursuing this new opportunity in Nova Scotia," said John Macdonald, President and Chief Executive Officer.
EnerCare and EnerCare Solutions Inc. ("EnerCare Solutions") also today announced that EnerCare Solutions intends to repay its $60,000,000 6.20% Series 2009-1 Senior Notes maturing on April 30, 2012 with cash on hand.
About EnerCare Inc.
EnerCare owns a portfolio of approximately 1.2 million installed water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns EnerCare Connections Inc., a leading sub-metering company, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.
You can find information about EnerCare and EnerCare Solutions on SEDAR at www.sedar.com, on our investor website at www.enercareinc.com or on our rentals and sub-metering business website at www.enercare.ca.
This news release contains certain forward-looking statements that involve various risks and uncertainties. The forward-looking information in this news release includes statements that reflect management's expectation regarding EnerCare and EnerCare Solutions' growth, results of operations, performance, business prospects and opportunities. Such forward-looking information reflects management's current beliefs and is based on information available to them and/or assumptions management believes are reasonable. Many factors could cause results to differ materially from the results discussed in the forward-looking information. Although the forward-looking information is based on what management believes to be reasonable assumptions, EnerCare and EnerCare Solutions cannot assure investors
that actual results will be consistent with this forward- looking information. All forward-looking information in this news release is made as of the date hereof. Except as required by applicable securities laws, EnerCare and EnerCare Solutions do not intend and do not assume any obligations to update or revise the forward-looking information, whether as a result of new information, future events or otherwise. A thorough discussion in respect of the material risks relating to the business and structure of EnerCare and EnerCare Solutions can be found in EnerCare's and EnerCare Solutions' respective current Annual Information Forms, which are available on SEDAR at www.sedar.com.
Source: EnerCare Inc.
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