Tidewater Midstream and Infrastrucutre Ltd.

In connection with the acquisition and liquids handling expansion, Tidewater is pleased to announce that it has entered into a $75 million bought-deal financing of five-year convertible unsecured subordinated debentures with a syndicate of underwriters co-led by CIBC Capital Markets and National Bank Financial Inc. The debentures will have a coupon of 5.5% per annum, and a conversion price of $1.86 per Tidewater common share. The corporation has granted the underwriters an over-allotment option to purchase up to an additional $11.25 million aggregate principal amount of the debentures, on the same terms, exercisable in whole or in part at any time up to the 30th day following initial closing of the convertible debenture financing.