Fortis Inc 6-K, filed Nov 1, 2023
Fortis Inc. (FTS)
About this 6-K
Fortis Inc filed this 6-K on November 1, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2023
Commission File Number: 001-37915
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Fortis Inc.
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Fortis Place, Suite 1100
5 Springdale Street
St. John's, Newfoundland and Labrador
Canada, A1E 0E4
(Address of Principal Executive Office)
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☐ Form 40-F ☒
EXHIBITS
| Exhibit | Description |
| 99.1 | Fortis Inc. Press Release dated November 1, 2023. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Fortis Inc. (Registrant) |
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| Date: November 1, 2023 | /s/James R. Reid | ||||
| By: | James R. Reid | ||||
| Title: | Executive Vice President, Sustainability and Chief Legal Officer | ||||
Exhibit 99.1
St. John's, NL – November 1, 2023
FORTIS INC. COMPLETES SALE OF AITKEN CREEK
NATURAL GAS STORAGE FACILITIES IN BRITISH COLUMBIA
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022.
Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) today announced that FortisBC Holdings Inc. has completed the sale of its 93.8% interest in the Aitken Creek Natural Gas Storage Facility in British Columbia and its 100% interest in the Aitken Creek North Gas Storage Facility (collectively "Aitken Creek") to a subsidiary of Enbridge Inc. (TSX/NYSE: ENB) for approximately $400 million plus working capital and closing adjustments, following the satisfaction of all regulatory requirements.
As indicated earlier this year, the sale of Aitken Creek further strengthens our balance sheet and provides additional funding flexibility to support our regulated utility growth strategy.
CIBC Capital Markets and Fasken acted as the exclusive financial and legal advisors, respectively, to Fortis.
About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry with 2022 revenue of $11 billion and total assets of $66 billion as at September 30, 2023. The Corporation's 9,200 employees serve utility customers in five Canadian provinces, ten U.S. states and three Caribbean countries.
Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedarplus.ca, or www.sec.gov.
For further information contact
Investor Enquiries: Ms. Stephanie Amaimo Vice President, Investor Relations Fortis Inc. 248.946.3572 investorrelations@fortisinc.com |
Media Enquiries: Ms. Karen McCarthy Vice President, Communications & Government Relations Fortis Inc. 709.737.5323 media@fortisinc.com |