/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
CALGARY, AB, Sept. 15, 2021 /CNW/ - Tidewater Midstream
and Infrastructure Ltd. ("Tidewater Midstream") (TSX: TWM)
is pleased to announce that its majority-owned subsidiary,
Tidewater Renewables Ltd. ("Tidewater Renewables" or the
"Company"), has today announced that, further to Tidewater
Renewables' recently completed initial public offering (the
"Offering") of an aggregate of 10,000,000 common shares (the
"Common Shares") at a price of $15.00 per Common Share (the "Offering
Price"), Tidewater Renewables has issued an additional 735,000
Common Shares at the Offering Price pursuant to the
over-allotment option granted by the Company to the Underwriters
(as defined herein), in connection with the Offering, for
additional gross proceeds of $11,025,000. The exercise of the over-allotment
option has increased the total gross proceeds of the Offering to
$161,025,000. After giving
effect to the issuance of additional Common Shares pursuant to the
over-allotment option, the Common Shares held by Tidewater
Midstream represents approximately 69.01% of the Common Shares.
CIBC Capital Markets and National Bank Financial acted as lead
underwriters and joint bookrunners for the Offering with a
syndicate that included ATB Capital Markets., RBC Capital Markets,
Acumen Capital Partners, Canaccord Genuity, Scotia Capital Inc.,
Stifel FirstEnergy, Tudor, Pickering, Holt & Co., Echelon
Wealth Partners Inc., iA Private Wealth Inc., INFOR Financial
Inc., and Paradigm Capital Inc. (collectively, the
"Underwriters").
The Offering was completed pursuant to the Company's
supplemented PREP prospectus dated August 12, 2021 (the
"Prospectus"), filed with the securities regulators in each
of the provinces of Canada, a copy of which is available under the
Company's profile on SEDAR at www.sedar.com.
The Common Shares of Tidewater Renewables trade on the Toronto
Stock Exchange under the symbol "LCFS".
The securities under the Offering have not been, and will not
be, registered under the United
States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or the securities laws of any state of the
United States and may not be offered, sold or delivered, directly
or indirectly, in the United States (as such term is defined in
Regulation S under the U.S. Securities Act) or to, or for the
account or benefit of, U.S. Persons (as defined in the U.S.
Securities Act), except pursuant to an exemption from the
registration requirements of the U.S. Securities Act and
applicable state securities laws. This news release does not
constitute an offer to sell or solicitation of an offer to buy any
of these securities in any jurisdiction in which the offering or
sale is not permitted.
Forward-Looking Information
This news release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") that relate to Tidewater Renewables' and Tidewater
Midstream's current expectations and views of future events. These
forward-looking statements relate to future events or the Tidewater
Renewables' future performance. Any statements that express, or
involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance (often, but
not always, through the use of words or phrases such as "will
likely result", "are expected to", "expects", "will continue", "is
anticipated", "anticipates", "believes", "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
which could cause actual results or outcomes to differ materially
from those expressed in such forward-looking statements. No
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news
release should not be unduly relied upon. These statements speak
only as of the date of this news release. In particular and without
limitation, this news release contains forward-looking statements
pertaining to Tidewater Midstream's business as described under the
heading "About Tidewater Midstream" below. Forward-looking
information is based on a number of assumptions and is subject to a
number of risks and uncertainties, many of which are beyond
Tidewater Midstream's and the Company's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Risk Factors" in the Company's
supplemented PREP prospectus dated August 12, 2021. Tidewater
Midstream does not undertake any obligation to update such
forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
About Tidewater Midstream
Tidewater Midstream is traded on the TSX under the symbol "TWM".
Tidewater Midstream's business objective is to build a diversified
midstream and infrastructure company in the North American natural
gas, natural gas liquids, crude oil, refined product and renewable
space. Its strategy is to profitably grow and create shareholder
value through the acquisition and development of oil and gas
infrastructure. Tidewater Midstream plans to achieve its business
objective by providing customers with a full service, vertically
integrated value chain, including gas plants, pipelines, railcars,
export terminals, storage, downstream facilities and various
renewable initiatives.
Additional information relating to Tidewater Midstream is
available on SEDAR at www.sedar.com and at
www.tidewatermidstream.com.
SOURCE Tidewater Midstream and Infrastructure Ltd.