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Press release from CNW Group

Valener shareholders approve all resolutions submitted at the Annual and Special Shareholders Meeting

Wednesday, March 14, 2012

Valener shareholders approve all resolutions submitted at the Annual and Special Shareholders Meeting11:50 EDT Wednesday, March 14, 2012MONTREAL, March 14, 2012 /CNW Telbec/ - Valener Inc. ("Valener") (TSX: VNR) is pleased to announce that the three resolutions proposed, i.e. the election of directors, the appointment of external auditors and the ratification of the Shareholder Rights Plan, have all been adopted by majority at its Annual and Special Meeting of Shareholders that was held today.Nicolle Forget, François Gervais, Pierre Monahan and Réal Sureau have been re-elected as directors and the accounting firm Raymond Chabot Grant Thornton LLP has been re-appointed as auditors.The Board of Directors of Valener has appointed Mr. Pierre Monahan as Chairman of the Board for a second year. The Board of Directors also re-appointed the four directors as members of the Audit Committee and Mr. Réal Sureau has been re-confirmed as Chairman of the Committee.About ValenerValener owns an economic interest of approximately 29% in Gaz Métro Limited Partnership ("Gaz Métro"). Valener therefore has a stake in the energy industry and benefits from Gaz Métro's diversified profile, both in terms of geography and business segment. Valener also owns a 24.5% indirect interest in the wind power projects developed with Gaz Métro and Boralex Inc. on the private lands of Séminaire de Québec. Valener may also pursue its own development projects and acquisition strategies subject to a non-competition agreement in favour of Gaz Métro and to applicable limitations under its credit facility. Valener's common shares are listed on the Toronto Stock Exchange under the "VNR" trading symbol. www.valener.comFor further information: Investors and analysts Caroline Warren Senior advisor, Investor Relations 514-598-3324Media Audrey Giguère Advisor, Media and Public Relations 514-598-3449