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Order in Council 1945/2016

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Pursuant to subsection 22(1) of the Financial Administration Act , the Minister of Finance, on behalf of Ontario, is authorized to guarantee to one or more financial institutions authorized to do business in Ontario (the “Lender(s)”), the repayment by Coral Rapids Power Corporation (the “Borrower”) of a loan made to it by the Lender(

s) for the purpose of investing in a hydroelectric generating facility and related transmission facilities proposed to be located on New Post Creek near its confluence with the Abitibi River in Ontario together with interest thereon and the costs and expenses relating to the loan in accordance with the terms of this Order.

The Minister of Finance is authorized to determine the terms, conditions and amount of the guarantee authorized under paragraph 1 of this Order, provided that the maximum aggregate principal amount guaranteed shall not exceed twenty million dollars ($20,000,000) and the maximum term of the guarantee shall not exceed twenty (20) years commencing from the date that any portion of such funds are advanced to the Borrower.

Treasury Board Secretariat

Approved and Ordered:

December 14, 2016

Updated: June 29, 2022

Published: September 12, 2017