March 5, 2020

Gazoduq Project's Financing

Like other infrastructure projects in the energy sector in Canada, Gazoduq is not immune to the variety of challenges posed by the current situation. We confirm that a major potential investor who has shown significant interest, due to the project's undeniably powerful fundamentals, was seeking to invest long term with us in Quebec. Unfortunately, they withdrew at the last hour.

In this context, we believe it is important to take a step back and reassess our short-term priorities, which does not alter the viability of the project. Our initial investors are still present and remain favourable to its continuation. Our fundraising efforts are currently progressing with other potential investors.

Our respectful and transparent approach in listening to communities, expressed through our activities and our consultation processes, is part of our values and will continue to differentiate us. It is on these bases that we wish to pursue the development of our project.