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Just Energy to Sell Terra Grain Fuels


Just Energy Group (NYSE: JE) is pleased to announce that it has entered into a Share Purchase Agreement (the "Purchase Agreement") pursuant to which it has agreed to sell all of the issued and outstanding shares of Terra Grain Fuels Inc. ("Terra Grain"), an ethanol producer located in Belle Plaine, Saskatchewan, to a group of Saskatchewan businesses (the "Purchaser"). The sale resulted from a process involving a number of interested parties. Pursuant to the Purchase Agreement, the Purchaser will acquire Terra Grain, including all of its outstanding debt, for a nominal purchase price. Additionally, Just Energy will be released from all of its obligations to service providers to Terra Grain under letters of credit and guarantees. The closing is expected to occur on or before December 24, 2013.Rebecca MacDonald, Executive Chair of Just Energy, noted: "We are pleased to announce the sale of Terra Grain. From the time that we indirectly acquired the facility with the acquisition of Universal Energy Group Ltd., we have worked to bring the plant up to its production capacity. This was done thereby supporting employment in Saskatchewan and offering a ready market for local wheat

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