Just Energy Group Inc. Announces Renewal of Its Normal Course Issuer Bid for Its Common Shares and Initiation of a Normal Course Issuer Bid for Its 6.75% Convertible Unsecured Senior Subordinated D...

TORONTO, March 15, 2018 (GLOBE NEWSWIRE) -- Just Energy Group Inc. ("Just Energy") (TSX:JE) (NYSE:JE), announced today that it has received TSX approval to initiate a normal course issuer bid ("NCIBs") for (i) its 6.75 % convertible unsecured senior subordinated debentures due December 31, 2021 (the "Debentures") (TSX:JE.DB.C); and renewal of its NCIB for common shares (the "Common Shares") (TSX:JE) (NYSE:JE) expiring March 16, 2018.

All Debentures and all Common Shares purchased under each of the above referenced NCIBs will be cancelled. The following table indicates the principal amount of the Debentures and number of Common Shares that were outstanding at close of trading February 28, 2018 and that may be purchased during the year starting March 19, 2018 and ending March 15, 2019.

Under each NCIB, Just Energy may purchase Debentures and Common Shares representing 10% of the outstanding public float at the close of business February 28, 2018, up to the following limits:

Outstanding - Close of Trading - February 28, 2018	Limit on Purchases  Between March 19, 2018 to March 15, 2019 (Principal Amount)
	Total Limit (1)			Daily Limit (2) (3)
(a) $6.75% $160,000,000 Debentures	$16,000,000			$38,565
(b) 148,346,420 Common Shares	9,733,847			115,449

Notes:

1. Represents 10% of the public float at February 28, 2018.
2. The average daily trading volume ("ADTV") for the 6.75% Debentures was $154,260 at February 28, 2018.
3. The ADTV for the Common Shares was 461,797 at February 28, 2018.

In addition to providing shareholder liquidity, Just Energy believes that its Common Shares trade in a price range which does not adequately reflect the value of such Common Shares in relation to Just Energy's business and its current annual $0.50 dividend per Common Share, and accordingly, Just Energy's future business prospects.  As a result, depending upon future price movements and other factors, Just Energy believes that Just Energy's Common Shares represent an attractive investment. In addition to providing Debenture holder liquidity, Just Energy believes that the Debentures may trade in a price range which does not adequately reflect the value of such Debentures in relation to Just Energy's business, and accordingly Just Energy's future business prospects.  As a result, depending upon future price movements and other factors, Just Energy believes that Just Energy's Debentures represent an attractive investment and will enable Just Energy to continue to deleverage its balance sheet.