CALGARY, AB – 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.