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TOURMALINE AND TOPAZ ANNOUNCE THE CLOSING OF $230 MILLION BOUGHT DEAL SECONDARY OFFERING OF TOPAZ COMMON SHARES
TOURMALINE AND TOPAZ ANNOUNCE THE CLOSING OF $230 MILLION BOUGHT DEAL SECONDARY OFFERING OF TOPAZ...
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"\n\n\nTOURMALINE AND TOPAZ ANNOUNCE THE CLOSING OF $230 MILLION BOUGHT DEAL SECONDARY OFFERING OF TOPAZ COMMON SHARES\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\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, AB, Oct. 28, 2025 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"Tourmaline\" or the \"Selling Shareholder\") and Topaz Energy Corp. (TSX: TPZ) (\"Topaz\" or the \"Company\") announced today the closing of the previously announced secondary offering (the \"Offering\") of common shares of the Company (the \"Common Shares\").\nPursuant to the Offering, the Selling Shareholder sold a total of 9,200,000 Common Shares, comprised of 8,000,000 Common Shares in addition to 1,200,000 Common Shares sold pursuant to the exercise in full of an over-allotment option granted to the underwriters, at a price of $25.10 per Common Share for total gross proceeds to the Selling Shareholder of approximately $230 million. Topaz has not and will not receive any of the proceeds of the Offering.\nThe Offering was made, on a bought deal basis, pursuant to an underwriting agreement dated effective October 8, 2025 among the Company, the Selling Shareholder and Peters & Co. Limited and Scotiabank (together, the \"Lead Underwriters\"), BMO Nesbitt Burns Inc., National Bank Financial Inc., ATB Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Jefferies Securities, Inc., RBC Dominion Securities Inc., and Tudor, Pickering, Holt & Co. Securities – Canada, ULC  (collectively with the Lead Underwriters, the \"Underwriters\").\nFollowing the closing of the Offering, the Selling Shareholder holds 23,529,494 Common Shares, representing approximately 15.3% of the issued and outstanding Common Shares.\nTourmaline sold the Common Shares as part of a long-term plan to reduce its equity position as Topaz develops and continues to succeed as an independent royalty and infrastructure company. The use of proceeds therefrom will remain as previously disclos...