Ms. Patricia Lemaire reports

BORALEX ANNOUNCES PARTIAL EXERCISE OF OVER-ALLOTMENT OPTION IN CONNECTION WITH ITS PUBLIC OFFERING OF COMMON SHARES

Of Boralex Inc.'s overallotment option, 85 per cent has been exercised from its previously announced public offering of 8.43 million Class A common shares on a bought-deal basis for gross proceeds of approximately $110-million, which closed on Jan. 12, 2015.

The syndicate of underwriters, led by National Bank Financial Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Desjardins Securities Inc., TD Securities Inc. and Cormark Securities Inc., has exercised in part the overallotment option and purchased an additional 1,075,000 Class A common shares of Boralex, at a price of $13.05 per option share, for total net proceeds to the corporation of $13,467,600, after deduction of the underwriters' fee. The exercise of the overallotment option brings the total gross proceeds of the offering to approximately $124-million.

The net proceeds from the sale of the option shares will be used for working capital and general corporate purposes. The shares and the option shares have been offered in all provinces of Canada by way of a short form prospectus.

Following this partial exercise of the overallotment option, Boralex will have approximately 48 million shares issued and outstanding.

Availability of documents

Copies of related documents, such as the final short form prospectus and the underwriting agreement, are available on SEDAR as part of the public filings of Boralex.

We seek Safe Harbor.