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TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- (TSX: ESP, ESP.PR.A) Brompton Energy Split Corp. (the “Fund”) is pleased to announce it has established an at-the-market equity program (“ATM Program”) so that the Fund can issue class A and preferred shares (the “Class A Shares” and “Preferred Shares”, respectively) to the public from time to time, at the Fund’s discretion. Any Class A Shares or Preferred Shares sold under the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Class A Shares and Preferred Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale. Sales of Class A Shares and Preferred Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated December 18, 2024 (the “Equity Distribution Agreement”) with RBC Capital Markets Inc. (the “Agent”).
Sales of Class A Shares and Preferred Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Class A Shares and Preferred Shares in Canada. Since the Class A Shares and Preferred Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated December 18, 2024 to the Fund’s short form base shelf prospectus dated December 18, 2024. The maximum gross proceeds from the issuance of the shares will be $25 million for each of the Class A and Preferred Shares. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor or from representatives of the Agent and are available on SEDAR+ at www.sedarplus.ca.
The volume and timing of distributions under the ATM Program, if any, will be determined at the Fund’s sole discretion. The ATM Program will be effective until January 18, 2027, unless terminated prior to such date by the Fund. The Fund intends to use the proceeds from the ATM Program in accordance with the investment objectives and investment strategies of the Fund, subject to the investment restrictions of the Fund.
The Fund invests in an actively managed portfolio (the “Portfolio”) consisting primarily of equity securities of dividend-paying (at the time of investment) global energy issuers with a market capitalization of at least $2 billion (at the time of investment) which may include companies operating in energy subsectors and related industries such as oil and gas exploration and production, equipment, services, pipelines, transportation, infrastructure, utilities, among others. The Fund may also invest up to 25% of the value of the Portfolio, as measured at the time of investment, in equity securities of other global natural resource issuers which include companies that own, explore, mine, process or develop natural resource commodities or supply goods and services to those companies, including directly or indirectly through exchange-traded funds.