AltaGas Ltd. Announces Closing of $460 Million Common Share Offering

August 28, 2014

CALGARY, ALBERTA--(Marketwired - Aug. 28, 2014) -


AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has closed its previously announced public offering of 9,027,500 common shares (the "Common Shares") at a price of $51.00 per Common Share (the "Offering Price") for total gross proceeds of approximately $460 million (the "Offering").

The Offering is comprised of the previously announced offering of 7,850,000 Common Shares at the Offering Price for gross proceeds of approximately $400 million, together with the underwriters exercising the over-allotment option for the sale of an additional 1,177,500 Common Shares at the Offering Price for additional gross proceeds of approximately $60 million.

The Offering was first announced on August 19, 2014 when AltaGas entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc., BMO Capital Markets and RBC Capital Markets.

The net proceeds resulting from the Offering will be used to partially fund AltaGas' capital growth program, reduce bank indebtedness and for general corporate purposes.

The Common Shares will begin trading on the Toronto Stock Exchange today under the symbol ALA.

AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit:

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 AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the use of proceeds of the Offering. 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 AltaGas' 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 AltaGas' public disclosure documents. 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. AltaGas 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.

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