NIBE completes acquisition of Waterfurnace

Markaryd, Sweden–August 22, 2014 – NIBE Industrier AB (publ) of Sweden ("NIBE") is pleased to announce that it has acquired all of the issued and outstanding shares of WaterFurnace Renewable Energy, Inc. ("WaterFurnace") (TSX: WFI; TSX: WFI.U) pursuant to a plan of arrangement under the Canada Business Corporations Act.

It is expected that the common shares of WaterFurnace will be delisted from the Toronto Stock Exchange within two to three business days.

WaterFurnace will be consolidated in the NIBE Group with effect from 1 September 2014.

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