Topaz Energy closes equity financing

June 08, 2021

Torys represented the syndicate of underwriters co-led by Peters & Co. and BMO Nesbitt Burns with a team that included Scott Cochlan, Mike Pedlow, Jennifer Baugh and Cassondra Lozynsky (corporate/securities).

On June 8, 2021, Topaz Energy Corp. ("Topaz") announced that it completed its previously announced bought deal equity financing whereby Topaz issued 12,281,000 common shares at a price of C$14.25 per share. In addition, the over-allotment option granted to the underwriters to purchase up to an additional 1,842,150 common shares was exercised in full, generating additional gross proceeds to the Topaz of C$26.3 million for aggregate gross proceeds of approximately C$201.3 million.

The financing was made through a syndicate of underwriters co-led by Peters & Co. Limited and BMO Nesbitt Burns Inc. and included Scotiabank, National Bank Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Stifel Nicolaus Canada Inc., TD Securities Inc., ATB Capital Markets Inc., Desjardins Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc., Raymond James Ltd., and Tudor, Pickering, Holt & Co. Securities – Canada, ULC.

Further information can be found on Canada Newswire’s website.

Topaz is a unique royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with one of Canada's largest natural gas producers, Tourmaline, an investment grade senior Canadian E&P company.