Topaz Energy Corp. Closes the previously announced royalty acquisition and equity financing of Weyburn, including the full exercise of the over-allotment option



CALGARY, AB, October 26, 2021 / CNW / – Topaz Energy Corp. (TSX: TPZ) (“Topaz“or the”Society“) is pleased to announce that it has finalized its previously announced bought deal financing (the”Equity financing“) ordinary shares (“Ordinary actions“) and the acquisition of a newly created 5% gross overriding royalty on Whitecap Resources Inc.’s working interest in the Weyburn unit for $ 188.0 million in cash (the “Weyburn Royalties Acquisition“).

Topaz Energy Corp. logo. (CNW Group / Topaz Energy Corp.)

Pursuant to the equity financing, Topaz issued 10,120,000 common shares, including 1,320,000 common shares issued following the full exercise of an over-allotment option granted to the underwriters. The ordinary shares were issued at a price of $ 17.10 per common share for total gross proceeds of $ 173.1 million. The equity financing was effected 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 Ltée, Stifel Nicolaus Canada Inc. and TD Securities Inc.

In conjunction with the closing of the equity financing and royalty acquisition of Weyburn, certain directors, officers and employees of the Company and their partners purchased a total of 251,490 common shares at a price of $ 17.10 per ordinary share as part of a private placement for gross proceeds of $ 4.3 million. The total gross proceeds of the equity financing and concurrent private placement totaled approximately $ 177.4 million, the proceeds being used to finance a portion of the purchase price of the Weyburn Royalty Acquisition.


Additional information on Topaz, including financial statements and MD&A for the three and six months ended June 30, 2021 as well as the Company’s 2020 Annual Information Form are available electronically under the Company’s profile on SEDAR,, and on the Topaz site,


Topaz is a unique energy royalties and infrastructure company focused on generating free cash flow growth and delivering reliable and sustainable dividends to its shareholders, through its strategic relationship with one of from Canada the largest natural gas producers, Tourmaline Oil Corp., a leading Canadian exploration and production company, and leveraging industry connections to make complementary acquisitions from other high quality energy companies, while maintaining its commitment to best environmental, social and governance practices. For more information, please visit the company website


This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views on future events. These forward-looking statements relate to future events or the future performance of the Company. All statements that express or involve discussion of expectations, beliefs, plans, goals, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as ” will probably result “,” are expected at “,” expects “,” will continue “,” is anticipated “,” anticipates “,” estimates “,” estimated “,” intends “,” plans “, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results differ materially from those expressed in these forward-looking statements. No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon. These statements speak only as of the date of this press release. In particular, and without limitation, this press release contains forward-looking statements relating to the business of the Company as described under “About the Company” above. Forward-looking information is based on a number of assumptions, including those highlighted in this press release and is subject to a number of risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results and events to differ materially from those disclosed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the inability to complete the acquisitions on the terms or at the time announced or not at all and the inability to realize some or all of the anticipated benefits of the acquisitions, including the production of estimated royalties, royalty production revenue growth and factors discussed in the Company’s recently filed MD&A (see “Forward-looking statements” contained therein), the Annual Information Form (see “Risk Factors” and “Forward-Looking Statements” contained therein) and other reports filed with applicable securities regulatory authorities and can be viewed on the SEDAR website ( or the Topaz website ( Topaz assumes no obligation to update this forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Topaz Energy Corp.



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Carol M. Barragan