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services or dissemination in the United
States/
CALGARY, AB, Oct. 26, 2020 /CNW/ - Topaz Energy Corp. ("Topaz"
or the "Company") is pleased to announce that it has completed its
previously announced initial public offering consisting of a
treasury offering by the Company and a secondary offering by its
majority shareholder Tourmaline Oil Corp. ("Tourmaline" or the
"Selling Shareholder") of an aggregate of 17,731,000 common shares
("Common Shares") at a price of $13.00 per Common Share (the "Offering Price")
for gross proceeds to the Company and the Selling Shareholder of
approximately $217.5 million and
$13.0 million, respectively (the
"Offering").
![Unique royalty and energy infrastructure company (CNW Group/Topaz Energy Corp) Unique royalty and energy infrastructure company (CNW Group/Topaz Energy Corp)](https://mma.prnewswire.com/media/1319403/Topaz_Energy_Corp_Topaz_Energy_Corp__Completes__230_5_Million_In.jpg)
The Offering was made through a syndicate of underwriters co-led
by Peters & Co. Limited and Scotiabank (the "Co-Bookrunners")
and includes BMO Nesbitt Burns Inc., National Bank Financial Inc.,
RBC Dominion Securities Inc., CIBC World Markets Inc., TD
Securities Inc., Desjardins Securities Inc., Stifel Nicolaus Canada
Inc., ATB Capital Markets Inc., Canaccord Genuity Corp., Industrial
Alliance Securities Inc., Raymond James Ltd., and Tudor, Pickering,
Holt & Co. Securities – Canada, ULC (collectively, with the
Co-Bookrunners, the "Underwriters").
The Company has granted to the Underwriters an over-allotment
option, exercisable in whole or in part for a period of 30 days
following the closing of the Offering, to purchase up to an
additional 2,509,650 Common Shares at the Offering Price.
Upon closing of the Offering, Tourmaline holds 52.9% of the
common shares of Topaz. Tourmaline's ownership level in Topaz
would be reduced to 51.7% if the over-allotment option is exercised
in full.
The Common Shares trade on the Toronto Stock Exchange under the
symbol "TPZ".
No securities regulatory authority has either approved or
disapproved the contents of this news release. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws. Accordingly, these
securities may not be offered or sold within the United States unless registered under the
U.S. Securities Act and applicable state securities laws or except
pursuant to exemptions 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 a solicitation of
an offer to buy any of the securities offered hereby within
the United States.
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 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, failure to
complete the Offering, and the factors discussed under "Notice to
Investors – Forward-Looking Information" and "Risk Factors" in the
supplemented PREP prospectus dated October
19, 2020. 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