AltaGas Announces Extension of Take-over Bid for Landis Energy Corporation and Take Up of Deposited Shares
CALGARY, ALBERTA--(Marketwire - March 10, 2010) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. AltaGas Income Trust (AltaGas or the Trust) (TSX:ALA.UN) is pleased to announce that 24,426,172 Landis Energy Corporation (Landis) (TSX VENTURE:LIS) common shares, which represent approximately 88.4 percent of the outstanding shares on a fully diluted basis, have been tendered to the offer dated February 2, 2010 (the Offer) made by AltaGas Ltd. (the Offeror), an indirect wholly-owned subsidiary of AltaGas. AltaGas Ltd. has taken up all such shares that were validly tendered to the Offer and not withdrawn. AltaGas is also pleased to announce that the expiry date for the Offer has been extended until March 22, 2010. The Offer is now open for acceptance until 5:00 p.m. on March 22, 2010, unless withdrawn or further extended. A notice announcing the extension of the Offer will be mailed to Landis shareholders on March 11, 2010. The notice will also be available for review on SEDAR at www.sedar.com. AltaGas Income Trust is one of Canada's largest and fastest growing energy infrastructure organizations. The Trust creates value by acquiring, growing and optimizing gas and power infrastructure, including a focus on renewable energy sources. AltaGas Income Trust's units are listed on the Toronto Stock Exchange under the symbol ALA.UN. The Trust is included in the S&P/TSX Composite Index, the S&P/TSX Income Trust Index and the S&P/TSX Capped Energy Trust Index. This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Trust or an affiliate of the Trust, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Trust's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Trust's public disclosure documents. Many factors could cause the Trust's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Trust does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Media AltaGas Income Trust Adrianne Lovric (403) 691-9873 firstname.lastname@example.org or Investment Community AltaGas Income Trust Sheena McKellar (403) 691-9855 email@example.com or AltaGas Income Trust Investor Relations 1-877-691-7199 firstname.lastname@example.org www.altagas.ca