Exchange Bulletin
PrairieSky Royalty Ltd. (PSK) To Trade On Toronto Stock Exchange
May 29, 2014
PrairieSky Royalty Ltd. (the "Company") - An application has been granted for the original listing in the oil and gas category of 143,000,000 common shares, of which 130,000,000 common shares are issued and outstanding and 13,000,000 common shares will be reserved for issuance.
The common shares of the Company will be listed and posted for trading at the opening on Thursday, May 29, 2014.
The Company will be exempt from the reporting requirements of Section 501 of the TSX Company Manual.
Additional information on the Company and the common shares may be found in the Company's prospectus dated May 22, 2014, which is available at www.SEDAR.com.
| Stock Symbol: "PSK" | CUSIP: 739721 10 8 | Trading Currency: CDN$ |
| Temporary Market Maker: | RBC Capital Markets Inc. |
| Other Markets: | None |
| Head Office Address: | Suite 1900, 411 - 1st Street SE Calgary, AB T2G 4Y5 |
| Head Office Telephone Number: | (403) 645-2187 |
| Fax Number: | (587) 293-4001 |
| Website: | www.prairiesky.com |
| Investor Relations: | Cameron M. Proctor Tel.: (403) 645-2187 Email: cam.proctor@prairiesky.com |
| Chief Financial Officer & Secretary: | L. Geoffrey Barlow |
| Corporate Secretary: | Cameron M. Proctor |
| Incorporation: | The Company was incorporated pursuant to the Business Corporations Act (Alberta) on November 27, 2013 as "1786071 Alberta Ltd." and on April 11, 2014, the Company changed its name to "PrairieSky Royalty Ltd." |
| Fiscal Year End: | December 31 |
| Nature of Business: | The Company has been formed to acquire, from Encana Corporation ("Encana"), a royalty business whose assets are comprised of:
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| Transfer Agent & Registrar: | Equity Financial Trust Company at its offices in Calgary and Toronto. |
| Dividends: | The board of directors is expected to establish a dividend policy pursuant to which the Company will pay a monthly dividend, initially estimated to be in the amount of $1.27 per common share on an annualized basis, which is anticipated to be financed from internally-generated free cash flow. The amount of cash to be distributed will be determined at the discretion of the board of directors. The Company intends to pay dividends monthly to shareholders of record as of the close of business on the last business day of each calendar month, which dividends are expected to be paid to shareholders on or about the 15th day (or next business day) of each month. |
| Initial Public Offering: | Pursuant to the terms of the Prospectus, 52,000,000 common shares are to be sold to the public by Encana (the "Selling Shareholder"). The common shares are being offered at a price of $28.00 per common share (the "Offering Price"), through TD Securities Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., Peters & Co. Limited, AltaCorp. Capital Inc., FirstEnergy Capital Corp. and GMP Securities L.P. (collectively, the "Underwriters"). In addition, the Selling Shareholder has granted the Underwriters an option exercisable for a 30-day period following the closing of the offering of common shares to purchase up to an additional 7,800,000 common shares at the Offering Price. |
