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SERVICES OR DISSEMINATION IN THE UNITED
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CALGARY, AB, June 8, 2021 /CNW/ - Topaz Energy Corp. (TSX:
TPZ) ("Topaz" or the "Company") is pleased to announce it has
completed its previously announced $175.0
million bought deal equity financing ("Equity Financing")
whereby Topaz issued 12,281,000 Common Shares at a price of
$14.25 per Common Share. In
addition, the over-allotment option granted to the underwriters to
purchase up to an additional 1,842,150 Common Shares (the
"Over-Allotment Option") was exercised in full, generating
additional gross proceeds to the Company of $26.3 million for aggregate gross proceeds to the
Company of approximately $201.3
million.
Concurrent with the closing of the Equity Financing, certain
directors, officers and employees of the Company and their
associates, purchased a total of 211,000 Common Shares at a price
of $14.25 per Common Share on a
private placement basis. The aggregate gross proceeds from the
Equity Financing and concurrent private placement totalled
approximately $204.3 million.
The Equity Financing was made through a syndicate of
underwriters co-led by Peters & Co. Limited and BMO Nesbitt
Burns Inc. and included Scotiabank, National Bank Financial Inc.,
CIBC World Markets Inc., RBC Dominion Securities Inc., Stifel
Nicolaus Canada Inc., TD Securities Inc., ATB Capital Markets Inc.,
Desjardins Securities Inc., Canaccord Genuity Corp., iA Private
Wealth Inc., Raymond James Ltd., and Tudor, Pickering, Holt &
Co. Securities – Canada, ULC.
ADDITIONAL INFORMATION
Additional information about Topaz, including the financial
statements and management's discussion and analysis for the year
ended December 31, 2020 and the three
months ended March 31, 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, 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. In particular and without limitation, this news
release contains forward-looking statements pertaining to the
Company's business as described under the heading "About the
Company" above. Forward–looking information is based on a number of
assumptions including those highlighted in this news release and is
subject to a number of risks and uncertainties, many of which are
beyond the Company's control, which could cause actual results and
events to differ materially from those that are disclosed in or
implied by such forward–looking information. 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