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Topaz Energy Corp. Closes Previously Announced Weyburn Royalty Acquisition and Equity Financing Including Exercise in Full of Over-Allotment Option
Topaz Energy Corp. Closes Previously Announced Weyburn Royalty Acquisition and Equity Fin...
About this update from Topaz Energy Corp
[{"type":"text","content":"\n \n \n \n Topaz Energy Corp. Closes Previously Announced Weyburn Royalty Acquisition and 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 CALGARY, AB\n \n ,\n \n Oct. 26, 2021\n \n /CNW/ - Topaz Energy Corp. (TSX: TPZ) (\"\n \n Topaz\n \n \" or the \"\n \n Company\n \n \") is pleased to announce it has completed its previously announced bought-deal equity financing (the \"\n \n Equity Financing\n \n \") of common shares (\"\n \n Common Shares\n \n \") and acquisition of a newly-created 5% gross overriding royalty interest on Whitecap Resources Inc.'s working interest in the Weyburn Unit for\n \n $188.0 million\n \n in cash (the \"\n \n \n Weyburn\n \n \n \n Royalty\n \n \n Acquisition\n \n \").\n \n \n \n \n \n \n \n \n \n Pursuant to the Equity Financing, Topaz issued 10,120,000 Common Shares, including 1,320,000 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 $17.10\n \n per Common Share for total gross proceeds of\n \n $173.1 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., ATB Capital Markets Inc., Desjardins Securities Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc. and TD Securities Inc.\n \n \n Concurrent with the closing of the Equity Financing and Weyburn Royalty Acquisition, certain directors, officers and employees of the Company and their associates purchased a total of 251,490 Common Shares at a price of\n \n $17.10\n \n per Common Share on a private placement basis for gross proceeds of\n \n $4.3 million\n \n . The aggregate gross proceeds from the Equity Financing and concurrent private placemen...