Exchange Bulletin

Transeastern Power Trust (TEP.UN) To Trade On Toronto Stock Exchange


June 2, 2014

TRANSEASTERN POWER TRUST ("TEP.UN") ("TEP.DB")
BULLETIN TYPE: New Listing-IPO-Trust Units, New listing- Debentures
BULLETIN DATE: May 30, 2014
TSX Venture Tier 2 Company

The Trust's Initial Public Offering ('IPO') Prospectus dated March 31, 2014, had been filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Securities Commission on April 1, 2014, pursuant to the provisions of the Securities Act in the respective jurisdiction.

The gross proceeds received by the Company for the Offering were $22,808,800 (11,045,800 Trust Units at $1 per Trust Unit and $11,763,000 aggregate principal amount of 7.5% convertible unsecured subordinate debentures.

The Issuer is classified as a 'Hydro-Electric Power Generation" Issuer.

Commence Date: At the opening on Monday, June 2, 2014, the Trust Units and the debentures will commence trading on TSX Venture Exchange.

Corporate Jurisdiction: Ontario

Capitalization: Unlimited number of Trust Units authorized
11,045,800 Trust Units issued and outstanding
$11,763,000 7.5% convertible unsecured subordinate debentures are issued and outstanding

Transfer Agent: Equity Financial Trust Company

Trust Unit Trading Symbol: TEP.UN

Trust Unit CUSIP Number: 89366 N 100

Debentures Trading Symbol: TEP.DB

Debentures CUSIP Number: 89366 NAA8

Underwriters: Canaccord Genuity Corp. and GMP Securities L.P.

Underwriter's Commission: A cash commission equal to

(i) 6.5% of the gross proceeds from the sale of the Units and
(ii) 5% of the gross proceeds from the sale of the Debentures

Details of the Debentures:

Terms: Due on May 28, 2019 (the "Maturity Date").

Redemption: The Debentures are not redeemable by the Trust before
June 30, 2016. On or after June 30, 2016 and at any time prior to the Maturity Date, the Debentures may be redeemed at the option of the Trust, in whole or in part from time to time, on not more than 60 days and not less than 30 days prior notice at a redemption price equal to 100% of their principal amount plus accrued and unpaid interest thereon up to (but excluding) the date set for redemption, provided that the Current Market Price is at least 125% of the Conversion Price.

Interest: 7.5% per annum payable in equal installments semi-annually in arrears on June 30 and December 31 each year, commencing June 30, 2014. The first interest payment will include only interest accrued from the Closing Date to, but excluding, June 30, 2014.

Unless otherwise specifically provided in the terms of the Debentures or any series of Debentures interest shall be computed on the basis of a 365-day year. Except in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date, which shall be equal to $6.78 for each $1,000 principal amount of Initial Debentures, with respect to any Debentures or series of Debentures, whenever interest is computed on the basis of a year (the "deemed year") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year.

Subordination: The payment of the principal and premium, if any, of and interest on, the Debentures will be subordinated in right of payment, as set forth in the Debenture Indenture, to the prior payment in full of all Senior Indebtedness of the Trust, if any. The Debentures will also be effectively subordinated to claims of creditors of the Trust's subsidiaries except to the extent the Trust is a creditor of such subsidiaries ranking at least pari passu with such other creditors.

Conversion: The Debentures are convertible into Units at any time prior to the close of business on the earlier of: (a) the business day immediately preceding the Maturity Date (b) if called for redemption, the business day immediately preceding the date specified by the Trust for redemption of the Debentures; and (c) if called for repurchase pursuant to a Change of Control, the business day immediately preceding the date specified by the Trust for repurchase of -the Debentures, based on an initial conversion rate of 800 Units per $1,000 principal amount of Debentures (equivalent to an initial Conversion Price of $1.25 per Unit), subject to the satisfaction of certain conditions. Holders converting their Debentures will receive all accrued and unpaid interest thereon to, but excluding, the date of conversion.

Clearing and Settlement: The Debentures will clear and settle through CDS and DTC.

Board Lot: The Debentures will trade in a board lot size of $1,000 face value.

For further information, please refer to the Company's Prospectus dated March 31, 2014.

Company Contact: J. Colter Eadie, CEO
Company Address: 181 Bay Street, Suite 1800, Toronto, Ontario, Canada M5J 2T9
Company Phone Number: 647-987-7663
Company Fax Number: 416-863-1515
Company Email Address: jceadie@transeastern.com