Pembina Pipeline Corporation 7.35% Convertible Debentures to Mature December 31, 2010
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
All financial figures are in Canadian dollars.
CALGARY, Dec. 15 /CNW/ - Further to its press release of November 29, 2010 (the "Prior Release"), Pembina Pipeline Corporation ("Pembina" or the "Corporation") (TSX: PPL) wishes to confirm that, in connection with the upcoming maturity of its 7.35% convertible unsecured subordinated debentures (TSX: PPL.DB.B) (the "Debentures") on December 31, 2010, the Debentures may be converted by holders thereof at any time prior to 5:00 p.m. (Calgary time) on December 31, 2010. In the event the Debentures are not converted by holders prior to such time, Pembina will proceed to repay the indebtedness in cash as outlined in the Prior Release.
The Prior Release had incorrectly identified 12:00 pm Eastern Daylight Savings Time on December 30, 2010 as the deadline for conversion of the Debentures.
Pembina Pipeline Corporation transports crude oil and natural gas liquids produced in Western Canada, owns and operates oil sands pipelines and has a growing presence in midstream and natural gas services sectors.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and statements ("forward-looking statements") that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking statements can be identified by terminology such as "will", "shall" and similar expressions.
In particular, this document contains certain forward-looking statements made by Pembina with respect to repayment of the outstanding Debentures based on certain assumptions that Pembina has made in respect thereof as at the date of this document. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation or completion of third-party projects; regulatory environment and inability to obtain required regulatory approvals; tax laws and treatment; fluctuations in operating results; the ability of Pembina to raise sufficient capital to complete future projects and satisfy future commitments; construction delays; labour and material shortages; and certain other risks detailed from time to time in Pembina's public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Pembina's management's discussion and analysis for the year ended December 31, 2009, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements and are made as of the date of this news release. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. Management of Pembina approved the financial outlook contained herein. Readers should be aware the information contained in the financial outlook contained herein may not be appropriate for other purposes.
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