Not for distribution to U.S. news wire
services or dissemination in the United
States
CALGARY, AB, Oct. 6, 2021
/CNW/ - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the
"Company") is pleased to announce that it has agreed with
the syndicate of underwriters co-led by Peters & Co. Limited
and National Bank Financial Inc. to increase the size of the
previously announced bought-deal equity financing (the "Equity
Financing"). Topaz will now issue 8,800,000 common shares (the
"Common Shares") at a price of $17.10 per Common Share for gross proceeds of
$150.5 million pursuant to the Equity
Financing.
The underwriters will have an option to purchase up to an
additional 15% of the Common Shares issued under the Equity
Financing at a price of $17.10 per
Common Share to cover over-allotments exercisable and for market
stabilization purposes in whole or in part at any time until 30
days after the closing.
In all other respects, the terms of the Equity Financing and use
of proceeds therefrom will remain as previously disclosed in the
Company's October 5, 2021 press
release.
The Common Shares issued pursuant to the Equity Financing will
be distributed by way of a short form prospectus in all provinces
of Canada and may also be placed
privately in the United States to
Qualified Institutional Buyers (as defined under Rule 144A under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act")) pursuant to the exemption provided by Rule 144A
under the U.S. Securities Act, and may be distributed outside
Canada and the United States on a basis which does not
require the qualification or registration of any of the Company's
securities under domestic or foreign securities laws. The Common
Shares have not been and will not be registered under the U.S.
Securities Act, and this news release does not constitute an offer
of securities for sale in the United States. The Common
Shares may not be offered or sold in the
United States absent registration or an exemption from
registration.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
Additional information
Additional information about Topaz, including the financial
statements and management's discussion and analysis for the three
and six months ended June 30, 2021 as
well as the Company's 2020 Annual Information Form are available
electronically under the Company's profile on SEDAR, www.sedar.com,
and on Topaz's website, www.topazenergy.ca.
ABOUT THE COMPANY
Topaz is a unique royalty and energy
infrastructure company focused on generating free cash flow growth
and paying reliable and sustainable dividends to its shareholders,
through its strategic relationship with one of Canada's largest natural gas producers,
Tourmaline Oil Corp., an investment grade senior Canadian E&P
company, and leveraging industry relationships to execute
complementary acquisitions from other high-quality energy
companies, while maintaining its commitment to environmental,
social and governance best practices. For further information,
please visit the Company's website
www.topazenergy.ca.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") that relate to the Company's current expectations and
views of future events. These forward-looking statements relate to
future events or the Company's future performance. Any statements
that express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance
(often, but not always, through the use of words or phrases such as
"will likely result", "are expected to", "expects", "will
continue", "is anticipated", "anticipates", "believes",
"estimated", "intends", "plans", "forecast", "projection",
"strategy", "objective" and "outlook") are not historical facts and
may be forward-looking statements and may involve estimates,
assumptions and uncertainties which could cause actual results or
outcomes to differ materially from those expressed in such
forward-looking statements. No assurance can be given that these
expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly
relied upon. These statements speak only as of the date of this
news release.
Such risks and uncertainties include, but are not limited to,
the failure to complete acquisitions on the terms or on the
timing announced or at all and the failure to realize some or all
of the anticipated benefits of acquisitions including estimated
royalty production, royalty production revenue growth, and the
factors discussed in the Company's recently filed Management's
Discussion and Analysis (See "Forward-Looking Statements" therein),
Annual Information Form (See "Risk Factors" and "Forward-Looking
Statements" therein) and other reports on file with applicable
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com) or Topaz's website
(www.topazenergy.ca).
Topaz does not undertake any obligation to update such
forward–looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
SOURCE Topaz Energy Corp.