CALGARY,
AB, May 19, 2022 /CNW/ - Enbridge Inc. (TSX:
ENB) (NYSE: ENB) (Enbridge or the Company) announced today that,
after taking into account all election notices received prior to
5:00 p.m. (EST) on May 17, 2022, 107,904 of its 18,269,812
Cumulative Redeemable Preference Shares, Series B (Series B Shares)
were tendered for conversion, on a one-for-one basis, into
Cumulative Redeemable Preference Shares, Series C of Enbridge
(Series C Shares) and 1,188,789 of its 1,730,188 Series C Shares
were tendered for conversion, on a one-for-one basis, into Series B
Shares of Enbridge, effective on June 1,
2022.
Enbridge, after taking into account all Series B Shares and all
Series C Shares tendered for conversion, has determined that there
will be less than 1,000,000 Series C Shares outstanding after
June 1, 2022. Consequently, all
remaining Series C Shares will automatically be converted into
Series B Shares on a one-for-one basis on June 1, 2022, and no Series B Shares will be
converted into Series C Shares. The Series B Shares and the Series
C Shares are currently listed on the Toronto Stock Exchange under
the symbols ENB. PR.B. and ENB.PR.C, respectively.
Forward-Looking
Statements
Forward-looking information, or forward-looking statements,
have been included in this news release to provide information
about Enbridge, including statements with respect to the automatic
conversion of certain Series C Shares into Series B Shares on
June 1, 2022. This information may
not be appropriate for other purposes. Although Enbridge believes
these forward-looking statements are reasonable based on the
information available on the date such statements are made and on
processes used to prepare the information, such statements are not
guarantees of future events and readers are cautioned against
placing undue reliance on forward-looking statements. By their
nature, these statements involve a variety of assumptions, known
and unknown risks and uncertainties and other factors, which may
cause actual events to differ materially from those expressed or
implied by such statements.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including, but not limited to those risks and
uncertainties discussed in this news release and in the Company's
other filings with Canadian and United
States securities regulators. The impact of any one risk,
uncertainty or factor on a particular forward-looking statement is
not determinable with certainty as these are interdependent and
Enbridge's future course of action depends on management's
assessment of all information available at the relevant time.
Except to the extent required by applicable law, Enbridge assumes
no obligation to publicly update or revise any forward-looking
statements made in this news release or otherwise, whether as a
result of new information, future events or otherwise. All
subsequent forward-looking statements, whether written or oral,
attributable to Enbridge or persons acting on its behalf, are
expressly qualified in their entirety by these cautionary
statements.
About Enbridge
Inc.
Enbridge Inc. is a leading North American energy
infrastructure company. We safely and reliably deliver the energy
people need and want to fuel quality of life. Our core businesses
include Liquids Pipelines, which transports approximately 30
percent of the crude oil produced in North America; Gas Transmission and Midstream,
which transports approximately 20 percent of the natural gas
consumed in the U.S.; Gas Distribution and Storage, which serves
approximately 3.9 million retail customers in Ontario and Quebec; and Renewable Power Generation, which
owns approximately 1,766 MW (net) in renewable power generation
capacity in North America and
Europe. The Company's common
shares trade on the Toronto and
New York stock exchanges under the
symbol ENB. For more information, visit www.enbridge.com.
FOR FURTHER INFORMATION PLEASE
CONTACT:
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Toll Free: (888)
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Toll Free: (800)
481-2804
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Email:
media@enbridge.com
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Email:
investor.relations@enbridge.com
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SOURCE Enbridge Inc.