Topaz Energy Corp.

Entered an agreement with a syndicate of underwriters co-led by Peters & Co. Ltd. and National Bank Financial Inc., pursuant to which the underwriters have agreed to purchase for resale to the public, on a bought-deal basis, 7.7 million common shares at $17.10 per share. Underwriters will have an option to purchase up to an additional 15% of the common shares issued to cover over-allotments. Proceeds from the equity financing will be used to fund a portion of the acquisition of a newly-created 5% gross overriding royalty interest on Whitecap Resources Inc.’s working interest in the Weyburn Unit.