Société Hydro-Canyon Saint Joachim Inc.

Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $57.8 million, 20-year fixed-rate debt financing for the construction and operation of the Hydro-Canyon Saint-Joachim run-of-river hydroelectric project, a 23.2MW facility located near the Sainte-Anne Falls on the Sainte-Anne du Nord River in the MRC de La Côte-de-Beaupré, Québec (the “Project”).

Sponsored by AXOR Group Inc. and developed by Société Hydro-Canyon Saint-Joachim Inc. in partnership with the Municipalité de Saint-Joachim and the MRC de La Côte-de-Beaupré, the Project will utilize two double horizontal Francis turbines to generate energy that will be sold to Hydro-Québec Distribution under a 20-year power purchase agreement (the “PPA”). Funding for the Project was provided by Desjardins Financial Security Life Assurance Company, Industrial Alliance Insurance and Financial Services Inc. and Stonebridge Infrastructure Debt Fund II L.P.

Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $3.0 billion of project debt financing.

Stonebridge Infrastructure Debt Fund II L.P. (“SIDF II”) is an open-ended fund with capital commitments provided by a number of Canadian institutional investors including pension funds, insurance companies and the Business Development Bank of Canada. SIDF II provides its institutional investors with access to investment grade Canadian private infrastructure debt transactions, with long-term, predictable cash flows and premium returns over comparable publicly traded bonds.