/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
CALGARY, AB, Sept. 15, 2021 /CNW/ - Tidewater Renewables
Ltd. ("Tidewater Renewables" or the "Company") (TSX:
LCFS), today announced that, further to its recently completed
initial public offering (the "Offering") of an aggregate of
10,000,000 common shares (the "Common Shares") at a price of
$15.00 per Common Share (the
"Offering Price"), Tidewater Renewables has issued an
additional 735,000 Common Shares at the Offering Price pursuant to
the over-allotment option granted by the Company to the
Underwriters (as defined herein), in connection with the
Offering, for additional gross proceeds of $11,025,000. The exercise of the over-allotment
option has increased the total gross proceeds of the Offering to
$161,025,000.
CIBC Capital Markets and National Bank Financial acted as
lead underwriters and joint bookrunners for the Offering with a
syndicate that included ATB Capital Markets., RBC Capital Markets,
Acumen Capital Partners, Canaccord Genuity, Scotia Capital Inc.,
Stifel FirstEnergy, Tudor, Pickering, Holt & Co., Echelon
Wealth Partners Inc., iA Private Wealth Inc., INFOR Financial
Inc., and Paradigm Capital Inc. (collectively, the
"Underwriters").
The Common Shares of Tidewater Renewables trade on the Toronto
Stock Exchange under the symbol "LCFS".
The Offering was completed pursuant to the Company's
supplemented PREP prospectus dated August 12, 2021 (the
"Prospectus"), filed with the securities regulators in each
of the provinces of Canada, a copy of which is available under the
Company's profile on SEDAR at www.sedar.com.
The securities under the Offering have not been, and will not
be, registered under the United
States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or the securities laws of any state of the
United States and may not be offered, sold or delivered, directly
or indirectly, in the United
States (as such term is defined in Regulation S under the
U.S. Securities Act) or to, or for the account or benefit of, U.S.
Persons (as defined in the U.S. Securities Act), except pursuant to
an exemption from the registration requirements of the U.S.
Securities Act and applicable state securities laws. This news
release does not constitute an offer to sell or solicitation of an
offer to buy any of these securities in any jurisdiction in which
the offering or sale is not permitted.
Forward-Looking Information
This news release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") that relate to Tidewater Renewables' and Tidewater
Midstream's current expectations and views of future events. These
forward-looking statements relate to future events or the Tidewater
Renewables' 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 Tidewater Renewables' business as described under the
heading "About Tidewater Renewables" below. Forward-looking
information is based on a number of assumptions 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 factors discussed under "Risk
Factors" in the Company's supplemented PREP prospectus dated
August 12, 2021 filed on SEDAR. Neither Tidewater Renewables nor
Tidewater Midstream 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 laws.
About Tidewater Renewables
Tidewater Renewables is a multi-faceted, energy transition
company. The Company is focused on the production of low carbon
fuels, including renewable diesel, renewable hydrogen and
renewable natural gas, as well as carbon capture through future
initiatives. The Company was created in response to the growing
demand for renewable fuels in North
America and to capitalize on its potential to efficiently
turn a wide variety of renewable feedstocks (such as tallow, used
cooking oil, distillers corn oil, soybean oil, canola oil and
other biomasses) into low carbon fuels.
Additional information relating to Tidewater Renewables is
available on SEDAR at www.sedar.com.
SOURCE Tidewater Renewables Ltd.