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Attention Business/Financial Editors
Brookfield Renewable Power Fund Announces Completion of Preferred Share Offering for Gross Proceeds of $250 Million
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
GATINEAU, QC, March 10 /CNW Telbec/ - (BRC.UN) - Brookfield Renewable
Power Fund (the "Fund") today announced the closing of the previously
announced public offering of 10 million Class A Preference Shares, Series 1
(the "Series 1 Preferred Shares") of Brookfield Renewable Power Preferred
Equity Inc., at $25.00 per share for gross proceeds of $250 million. The
offering was made on a bought deal basis through a syndicate of underwriters
led by Scotia Capital Inc., CIBC, RBC Capital Markets and TD Securities Inc.
The Series 1 Preferred Shares commence trading on the Toronto Stock
Exchange today under the symbol BRF.PR.A.
The Series 1 Preferred Shares have not been and will not be registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
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.
About Brookfield Renewable Power Fund
Brookfield Renewable Power Fund (www.brpfund.com) is a premier Canadian
income fund and one of the largest power income funds in North America with
more than 1,600 megawatts of power generating capacity and average annual
production exceeding 6,300 gigawatt hours.
The Fund produces electricity exclusively from environmentally friendly
and renewable resources. The Fund indirectly owns or holds interests in 42
high quality hydroelectric generating stations and one wind farm in four
distinct geographic regions across North America: Quebec, Ontario, British
Columbia and New England.
Brookfield Renewable Power Inc., which comprises all of the power
operations of Brookfield Asset Management, owns 50.01% of the Fund's
outstanding units on a fully-exchanged basis.
The Units are listed for trading on the TSX under the symbol BRC.UN.
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/For further information: Zev Korman, Director, Investor Relations and
Communications, Brookfield Renewable Power Fund, (416) 359-1955,
zkorman@brookfield.com; www.brpfund.com/
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