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Topaz Energy Corp. Announces Strategic Acquisition of Additional Montney Royalty Assets in NEBC which Provides 8% Per Share Growth to 2022 Free Cash Flow
Topaz Energy Corp. Announces Strategic Acquisition of Additional Montney Royalty Assets i...
About this update from Topaz Energy Corp
[{"type":"text","content":"\n \n \n \n Topaz Energy Corp. Announces Strategic Acquisition of Additional Montney Royalty Assets in NEBC which Provides 8% Per Share Growth to 2022 Free Cash Flow\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.prngen4{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr8{\nPADDING-RIGHT:0.67em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n July 15, 2021\n \n /CNW/ - Topaz Energy Corp. (TSX: TPZ) (\"Topaz\" or the \"Company\") is pleased to announce that in furtherance of its growth strategy of acquiring low-risk, premium royalty interests to generate free cash flow\n \n (1)\n \n growth, it has entered into definitive agreements with Tourmaline Oil Corp. (\"Tourmaline\") for the purchase of gross overriding royalty interests on approximately 296,000 gross acres in the NEBC Montney play area, for total cash consideration of\n \n $145.0 million\n \n (the \"NEBC Montney Royalty Acquisition\"), which will be funded through Topaz's existing credit facilities. The NEBC Montney Royalty Acquisition lands were recently acquired by Tourmaline pursuant to its ongoing NEBC consolidation strategy, including the acquisition of privately owned Black Swan Energy as well as developed and undeveloped acreage from Paramount Resources in the Birch area of the\n \n North Montney\n \n trend.  Upon close of the acquisition, Topaz wi...