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Exchange Bulletin

Pinnacle Renewable Holdings Inc. (PL) To Trade On Toronto Stock Exchange

February 2, 2018
Issuer: Pinnacle Renewable Holdings Inc. (the "Company")
Security: Common Shares
Symbol: PL
Issue price per security: $11.25
Number of securities issued and outstanding: 32,903,221
Number of securities reserved for issuance: 3,290,322
Listing category: Industrial
CUSIP: 72349P 10 3
Trading currency: CDN $
Transaction: Initial public offering of Common Shares (the "Offering")
Listing date: February 5, 2018 (as at 5:01 p.m.) in anticipation of closing of the Offering
Anticipated closing date: February 6, 2018 (prior to the opening)
Posted for trading date: February 6, 2018 (at the opening) subject to confirmation of closing of the Offering
Other market(s): None
Temporary market maker: Questrade Inc.
Security ownership registration: Non-Certificated Inventory System
Investor relations: Andrea Johnston
(604) 270-9613
Incorporation: Business Corporations Act (British Columbia)
Fiscal year end: December 31
Nature of business: The Company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by global utilities and large-scale power generators to produce renewable and reliable baseload power.
Transfer agent and registrar: TSX Trust Company at its principal offices in Toronto and Vancouver.
Dividends: The Company anticipates paying quarterly cash dividends, with annualized aggregate dividend payments of approximately $19,740,000. The first dividend that would be payable would be the dividend for the period beginning on the Closing Date and ending on March 30, 2018. The first dividend is expected to be in the aggregate amount of approximately $2,870,000 (or approximately $0.09 per Common Share). Subsequent payments are expected to equal an aggregate amount of approximately $4,940,000 per quarter (or approximately $0.15 per Common Share).
Sponsorship: Not applicable
Disclosure document: Prospectus dated January 30, 2018 which is available at Capitalized terms not otherwise defined herein are as defined in the disclosure document.
Initial public offering: Pursuant to the Offering, 13,335,000 Common Shares will be sold at a price of $11.25 per Common Share, of which 6,223,889 Common Shares will be issued by the Company from treasury for gross proceeds of approximately $70 million and 7,111,111 Common Shares will be sold by the Selling Shareholders. The Company will not receive any proceeds from the Secondary Offering.
TSX contact: Julie K. Shin,
Director, Listed Issuer Services,
Toronto Stock Exchange