HALIFAX, NOVA SCOTIA--(Marketwired - Dec. 1, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Emera Inc. ("Emera") (TSX:EMA) today announced that it has agreed to sell all of its approximately 12.9 million common
shares ("Common Shares") of Algonquin Power & Utilities Corp. ("APUC") (TSX:AQN), representing approximately 4.7% of the issued
and outstanding Common Shares of APUC, in a secondary sale on a "bought block trade" basis at $11.00 per Common Share, for
aggregate gross proceeds to Emera of approximately $142 million (the "Sale"). The proceeds to Emera will be used for general
corporate purposes. Upon completion of the Sale, Emera will no longer hold any equity interest in APUC. The Sale is expected to
close on December 8, 2016.
Scotiabank is the sole underwriter for the Sale.
The shares of APUC being sold by Emera have not been registered under the U.S. Securities Act of 1933, as amended. This news
release is not an offer of securities for sale in the United States and the shares of APUC may not be offered or sold in the
United States except pursuant to an exemption from registration.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. By its nature,
forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These
statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There
is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to
be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking
information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities
regulatory filings, including under the heading "Business Risks and Risk Management" in Emera's annual Management's Discussion
and Analysis, and under the heading "Principal Risks and Uncertainties" in the notes to Emera's annual and interim financial
statements, which can be found on SEDAR at www.sedar.com.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately
$28 billion in assets and 2015 pro-forma revenues of $6.3 billion. The company invests in electricity generation, transmission
and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from
high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera
continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera's common and preferred
shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C,
EMA.PR.E, and EMA.PR.F. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under
the symbol EMABDR. Additional Information can be accessed at www.emera.com or
at www.sedar.com.