Exchange Bulletin
Topaz Energy Corp. (TPZ) To Trade On Toronto Stock Exchange
October 22, 2020
| Issuer: | Topaz Energy Corp. (the "Company") |
| Security: | Common shares (the "Common Shares") |
| Symbols: | TPZ |
| Issue price per security: | $13.00 |
| Number of securities issued and outstanding: | 109,939,296 |
| Number of securities reserved for issuance: | 11,854,490 |
| Listing category: | Oil and Gas, Exempt |
| Trading currency: | CDN$ |
| Transaction: | Initial public offering of Common Shares (the "Offering") |
| Listing date: | October 23, 2020 (as at 5:01 p.m.) in anticipation of closing of the Offering |
| Anticipated closing date: | October 26, 2020 (prior to the opening) |
| Posted for trading date: | October 26, 2020 (at the opening) subject to confirmation of closing of the Offering |
| End of trading on an "if, as and when issued" basis: | The Common Shares commenced trading on TSX on an "if, as and when issued" basis on Tuesday, October 20, 2020. Subject to the closing of the Offering occurring as scheduled prior to the opening of business on Monday, October 26, 2020, trading on an "if, as and when issued" basis will conclude at the close of business on, Friday October 23, 2020, unless the Offering closing has been delayed. |
| Other market(s): | None |
| Temporary market maker: | W.D. Latimer Co. Ltd. |
| Security ownership registration: | Uncertificated Issue – Non Certificated Inventory |
| Investor relations: | Cheree Stephenson Vice President, Finance and Chief Financial Officer (587) 323-8099 Email: stephenson@topazenergy.ca |
| Incorporation: | Business Corporations Act (Alberta) on October 13, 2006 |
| Fiscal year end: | December 31 |
| Nature of business: | The Company is a royalty and energy infrastructure company focused on generating low-risk income and paying dividends to its shareholders, while strategically investing in additional revenue generating assets to provide growth. |
| Transfer agent and registrar: | AST Trust Company (Canada) at its principal offices in Calgary and Toronto |
| Dividends: | The Board has established a dividend policy pursuant to which the Company intends to pay an annual dividend in the amount of $0.80 per Common Share on a quarterly ($0.20 per share) basis. Following Closing, the next scheduled dividend will be for the quarter ending December 31, 2020 and is expected to be paid on or about December 31, 2020 to shareholders of record on December 15, 2020 in the amount of $0.20 per Common Share. The payment of dividends is not guaranteed and the amount and timing of any dividends payable is at the discretion of the Board. |
| Sponsorship: | Not applicable. |
| Disclosure document: | Supplemented PREP prospectus dated October 19, 2020, which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the disclosure document. |
| Initial public offering: | The Offering will be comprised of a treasury offering by the Company of 16,731,000 Common Shares and a secondary offering by the Selling Shareholder of 1,000,000 Common Shares, at an Offering price of $13.00 per Common Share (the "Offering Price") for gross proceeds of $217.5 million to the Company. In addition, the Company has granted the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to 2,509,650 additional Common Shares at the Offering Price. |
| TSX contact: | Chris Birkett, Managing Director, Toronto Stock Exchange |