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Topaz Energy Corp. Announces Closing of Over-Allotment Option
Topaz Energy Corp. Announces Closing of Over-Allotment Option Canada NewsWire ...
About this update from Topaz Energy Corp
[{"type":"text","content":"\n \n \n \n Topaz Energy Corp. Announces Closing of Over-Allotment Option\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Nov. 9, 2020\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 9, 2020\n \n /CNW/ - Topaz Energy Corp. (\"Topaz\" or the \"Company\") is pleased to announce that further to its recently completed initial public offering (the \"Offering\") consisting of a treasury offering by the Company and a secondary offering by its majority shareholder Tourmaline Oil Corp. (\"Tourmaline\") of common shares of the Company (\"Common Shares\"), the over-allotment option granted to the Underwriters (as defined below) to purchase up to an additional 2,509,650 Common Shares at a price of\n \n $13.00\n \n per Common Share (the \"Over-Allotment Option\") was exercised in full, generating additional gross proceeds to the Company of\n \n $32,625,450\n \n .\n \n \n \n \n \n \n \n \n \n Pursuant to the Offering and closing of the Over-Allotment Option, the Company issued an aggregate of 19,240,650 Common Shares and Tourmaline sold 1,000,000 Common Shares at a price of\n \n $13.00\n \n per Common Share for gross proceeds to the Company and Tourmaline of approximately\n \n $250.1 million\n \n and\n \n $13.0 million\n \n , respectively.\n \n \n The Offering was made through a syndicate of underwriters co-led by Peters & Co. Limited and Scotiabank (the \"Co-Bookrunners\") and including 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 –\n \n Canada\n \n , ULC (collectively, with the Co-Bookrunners, the \"Underwriters\").\n \n \n Following the closing of the Over-Allotment Option, there are 112,448...