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TOPAZ ENERGY CORP. CLOSES EQUITY FINANCING INCLUDING EXERCISE IN FULL OF OVER-ALLOTMENT OPTION
TOPAZ ENERGY CORP. CLOSES EQUITY FINANCING INCLUDING EXERCISE IN FULL OF OVER-ALLOTMENT OPTION ...
About this update from Topaz Energy Corp
[{"type":"text","content":"\n\n\n\n TOPAZ ENERGY CORP. CLOSES EQUITY FINANCING INCLUDING EXERCISE IN FULL 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\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\n\n CALGARY, AB\n \n\n ,\n \n\n Oct. 22, 2024\n \n\n /CNW/ - Topaz Energy Corp. (TSX: TPZ) (\"Topaz\" or the \"Company\") is pleased to announce that it has completed its previously announced bought-deal equity financing (the \"Equity Financing\") of common shares (\"Common Shares\").\n \n\n\n\n\n\n\n\n\n Pursuant to the Equity Financing, Topaz issued 7,000,000 Common Shares, in addition to 1,050,000 Common Shares issued pursuant to the exercise in full of an over-allotment option granted to the underwriters. The Common Shares were issued at a price of\n \n $25.05\n \n per Common Share for total gross proceeds of approximately\n \n $201.7 million\n \n . The Equity Financing was made through a syndicate of underwriters co-led by Peters & Co. Limited and National Bank Financial Inc. and included BMO Nesbitt Burns Inc., Scotia Capital Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., TD Securities Inc., ATB Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Raymond James Ltd., and Tudor, Pickering, Holt & Co. Securities –\n \n Canada\n \n , ULC.\n \n\n Concurrent with the closing of the Equity Financing, certain directors, officers, employees and their associates of the Company purchased a total of 209,177 Common Shares at a price of\n \n $25.05\n \n per Common Share on a private placement basis for gross proceeds of approximately\n \n $5.2 million\n \n . The aggregate gross proceeds from the Equity Financing and concurrent private placement totalled approximately\n \n $206.9 million\n \n , with the proceeds to be used to fund a portion of the previously announced acquisition of gross overriding royalty interests on approximately 3.0 million gross acres, over 50% undeveloped, in its NEBC Montney, Alberta Dee...