Exchange Bulletin
Tidewater Renewables Ltd. (LCFS) To Trade On Toronto Stock Exchange
August 16, 2021
| Issuer: | Tidewater Renewables Ltd. (the "Company") |
| Security: | Common shares (the "Shares") |
| Symbol: | LCFS |
| Issue price per security: | $15.00 |
| Number of securities issued and outstanding: | 33,900,000 |
| Number of securities reserved for issuance: | 4,890,000 |
| Listing category: | Industrial, Non-Exempt |
| Trading currencies: | CDN$ |
| Transaction: | Initial public offering of Shares (the "Offering") |
| Listing date: | August 17, 2021 (as at 5:01 p.m.) in anticipation of closing of the Offering |
| Anticipated closing date: | August 18, 2021 (prior to the opening) |
| Posted for trading date: | August 18, 2021 (at the opening) subject to confirmation of closing of the Offering |
| End of trading on an "if, as and when issued" basis: | The Shares commenced trading on Toronto Stock Exchange ("TSX") on an "if, as and when issued" basis on Friday August 13, 2021. Subject to the closing of the Offering occurring as scheduled prior to the opening of business on Wednesday August 18, 2021, trading on an "if, as and when issued" basis will conclude at the close of business on August 17, 2021, unless the Offering closing has been delayed. Upon closing of the Offering, a trader note will be issued to confirm that trading on an "if, as and when issued" basis has concluded. |
| Other markets: | None |
| Temporary market maker: | Citadel Securities Canada ULC |
| Security ownership registration: | Non-certificated inventory system administered by CDS. |
| Investor relations: | Joel Vorra Chief Financial Officer (587) 475-0210 jvorra@tidewatermidstream.com Krasen Chervenkov Executive Vice President, Business Development and Strategy (403) 200-5674 kchervenkov@tidewatermidstream.com |
| Incorporation: | The Company was incorporated under the Business Corporations Act (Alberta) on May 11, 2021. |
| Fiscal year end: | December 31 |
| Nature of business: | The Company intends to focus on the production of low carbon fuels as well as carbon capture through future initiatives. The Company was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to turn a wide variety of renewable feedstocks (such as tallow, used cooking oil, distillers corn oil, soybean oil, canola oil and other biomasses) into low carbon fuels and intends to pursue this objective through the ownership, development, and operation of clean fuels projects and related infrastructure utilizing existing proven technologies. |
| Transfer agent and registrar: | TSX Trust Company at its principal offices in Calgary and Toronto. |
| Dividends: | The Company does not currently anticipate paying dividends in the near future. |
| Sponsorship: | Waived |
| Offering documents: | Final Base PREP Prospectus dated August 12, 2021 and Supplemented PREP Prospectus dated August 12, 2021, which are available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the offering documents. |
| Initial public offering: | A total of 10,000,000 Shares are being sold to the public at a price of $15.00 per Share (the "Offering Price") for total gross proceeds of $150,000,000 pursuant to an initial public offering (the "Offering") that is scheduled to close before the opening on August 18, 2021. The Company has also granted the Underwriters an option, exercisable in whole or in part at any time for a period of 30 days after the Closing Date, to purchase up to an additional 1,500,000 Shares at the Offering Price. The Offering is being underwritten by CIBC World Markets Inc., National Bank Financial Inc., ATB Capital Markets Inc., RBC Dominion Securities Inc., Acumen Capital Finance Partners Limited, Canaccord Genuity Corp., Scotia Capital Inc., Stifel Nicolaus Canada Inc., Tudor, Pickering, Holt & Co. Securities – Canada, ULC, Echelon Wealth Partners Inc., iA Private Wealth Inc., INFOR Financial Inc., and Paradigm Capital Inc. |
| Additional information: | See TSX Bulletins 2021-0799 dated August 11, 2021 and 2021-0807 dated August 13, 2021. |
| TSX contact: | Chris Birkett, Managing Director, Toronto Stock Exchange |