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News ReleasesJune 2nd 2016

Parkland Announces "At-the-Market" Equity Financing Program Adding a Cost Effective and Flexible Financing Tool to Support Future Growth

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RED DEER, AB--(Marketwired - June 03, 2016) -


Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX: PKI), Canada's largest independent marketer of fuel and petroleum products, announced today that it has entered into an equity distribution agreement dated June 3, 2016 (the "Equity Distribution Agreement ") with Canaccord Genuity Corp. pursuant to which Parkland may from, time to time, until May 11, 2018, sell common shares (the "Common Shares") in the capital of the Corporation having aggregate gross proceeds of up to $110,000,000. The "At-the-Market" program is expected to enable Common Shares to be issued from treasury at lower cost to Parkland than traditional offerings, without discount and at prevailing market prices. The proceeds from the sale of the Common Shares are intended to be used by Parkland primarily for, but not limited to, the direct or indirect financing of future growth opportunities. As noted, the Common Shares will be distributed at market prices prevailing at the time of the sale and, as a result, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of Parkland's board and management. To date, no Common Shares have been distributed by Parkland pursuant to the Equity Distribution Agreement.

"Cash flow from operations, debt and the dividend reinvestment program will continue to be Parkland's preferred sources of capital for organic growth and acquisitions," said Mike McMillan, Chief Financial Officer of Parkland. "As Parkland continues to grow, adding the at-the-market distribution program, where shares may be issued at prevailing market prices, is a low-cost funding alternative that provides us with another tool that may be employed to fine tune our capital structure and maintain total debt within our target range of 2 - 3.5 times Adjusted EBITDA. While Parkland has no immediate need to access the program, we view it as important part of long-term capital management strategy."

Sales of Common Shares, if any, under the offering are anticipated to be made in transactions that are deemed to be "at-the-market distributions" as defined in National Instrument 44-102 -- Shelf Distributions, including sales made directly on the TSX or any other recognized "marketplace" within the meaning of National Instrument 21-101 -- Marketplace Operation in Canada. The offering is being made pursuant to a prospectus supplement ("Prospectus Supplement") dated June 3, 2016 to the Company's short form base shelf prospectus (the "Shelf Prospectus") dated April 11, 2016, filed with the securities regulatory authorities in each of the provinces of Canada, other than Quebec. The Shelf Prospectus and Prospectus Supplement are available on SEDAR at or may be obtained from Parkland upon written request from the Investor Inquiries contact below.


No securities regulatory authority has approved or disapproved the content of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Common Shares nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of such jurisdiction.


Certain statements made herein contain forward-looking information, including statements concerning the anticipated sale and distribution of Common Shares, the volume and timing of the sale and distribution of Common Shares,. Parkland's intended use of the net proceeds of any offering of Common Shares, the costs to Parkland of any offering of Common Shares and the anticipated benefits and impacts of the at-the-market distribution program.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Parkland does not undertake any obligation to update publicly or to revise any of the included forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

This news release refers to Adjusted EBITDA which is a Non-GAAP financial measure that is not determined in accordance with International Financial Reporting Standards ("IFRS") and does not have a standardized meaning prescribed by IFRS. See "Adjusted EBITDA" in Parkland's March 31, 2016 MD&A for a reconciliation of Adjusted EBITDA to net earnings, the IFRS measure most directly comparable to Adjusted EBITDA.


Parkland Fuel Corporation is one of North America's fastest growing independent marketers of fuel and petroleum products. We deliver gasoline, diesel, propane, lubricants, heating oil and other high-quality petroleum products to motorists, businesses, households and wholesale customers in Canada and the United States. Our mission is to be the partner of choice for our customers and suppliers, and we do this by building lasting relationships through outstanding service, reliability, safety and professionalism.

We are unique in our ability to provide customers with dependable access to fuel and petroleum products, utilizing a portfolio of supply relationships, storage infrastructure, and third party rail and highway carriers to rapidly respond to supply disruptions in order to protect our customers.

Contact Information:

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Inquiries Patricia van de Sande Vice President Investor & Government Relations & Compliance 403-567-2519 Email contact Media Inquiries Elizabeth Wilcox Manager Corporate Communications 403-567-2578 Email contact To sign up for Parkland new alerts please go to or visit

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