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TOURMALINE AND TOPAZ ANNOUNCE UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL SECONDARY OFFERING TO $300 MILLION
TOURMALINE AND TOPAZ ANNOUNCE UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL SECONDARY OFFERING TO $3...
About this update from Topaz Energy Corp
[{"type":"text","content":"\n\n\n\n TOURMALINE AND TOPAZ ANNOUNCE UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL SECONDARY OFFERING TO $300 MILLION\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\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. NEWSWIRE 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 Nov. 26, 2024\n \n\n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"\n \n Tourmaline\n \n \" or the \"\n \n Selling Shareholder\n \n \") and Topaz Energy Corp. (TSX: TPZ) (\"\n \n Topaz\n \n \" or the \"\n \n Company\n \n \") are pleased to announce that they have agreed with the syndicate of underwriters co-led by Peters & Co. Limited and BMO Capital Markets (collectively, the \"\n \n Underwriters\n \n \") to increase the size of the previously announced bought deal secondary offering of Topaz common shares. The Underwriters will now purchase, on a bought deal basis, from Tourmaline 10,800,000 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price of\n \n $27\n \n .80 per Common Share (the \"\n \n Offering Price\n \n \") for total gross proceeds to the Selling Shareholder of approximately\n \n $300 million\n \n (the \"\n \n Offering\n \n \").\n \n\n\n\n\n\n\n\n\n The Underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at the Offering Price to cover over-allotments and for market stabilization purposes exercisable in whole or in part at any time until 30 days after the closing. The Company will not receive any of the proceeds of the Offering.\n \n\n The Selling Shareholder currently holds 45,149,494 common shares of Topaz, representing approximately 29.4% of the issued and outstanding common shares. Following the closing of the Offeri...