CALGARY, AB – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce that it will be added to the S&P/TSX Composite Index effective Monday, December 20, 2021, prior to the open of trading on the Toronto Stock Exchange (the “TSX”). The S&P/TSX Composite Index is the headline index for Canada and is the principal benchmark measure for the Canadian equity markets, represented by the largest companies on the TSX. Inclusion in the S&P/TSX Composite Index can potentially broaden participation in a company’s investor base by enabling investment from index funds and similar investment vehicles.
Marty Staples, Topaz’s President, Chief Executive Officer and Director, stated, “On behalf of the Board of Directors and our employees, we are honored to be included in the S&P/TSX Composite Index. This represents a major achievement for Topaz and its shareholders, and we believe an important milestone acknowledging Topaz’s significant growth and diversification of its asset portfolio over its first year as a public entity. We are also of the view that the addition of Topaz to the S&P/TSX Composite may increase the Company’s exposure to a broader range of potential investors and should provide better trading liquidity for all shareholders.”
Credit Facility Expansion & Extension
Topaz is also pleased to announce that it has entered into an amended and restated credit agreement with a syndicate of Canadian banks providing for a $500 million combined operating and syndicated unsecured credit facility, due December 6, 2025 (“Expanded and Extended Credit Facility”). The Expanded and Extended Credit Facility provides for a permitted increase to $700 million, subject to agent consent, and is subject to covenants which are consistent with the covenants under its prior credit facility. The Expanded and Extended Credit Facility replaces the Company’s prior syndicated secured credit facility, which provided for aggregate borrowing capacity of $400 million and was due February 19, 2024.
The Company’s business model is supported by its conservative capital structure which currently has moderate debt and significant free cash flow which, together, provide financial flexibility. The Expanded and Extended Credit Facility provides enhanced financial flexibility at attractive pricing to position the Company to strategically execute accretive growth transactions.
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 Canada’s largest natural gas producer, 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.