Brompton Energy Split Corp. Establishes At-The-Market Equity Program
19 Diciembre 2024 - 9:50AM
(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.
The investment objectives for the Class A Shares
are to provide their holders with regular monthly non-cumulative
cash distributions and to provide holders of Class A Shares with
the opportunity for growth in net asset value per Class A
Share.
The investment objectives for the Preferred
Shares are to provide their holders with fixed cumulative
preferential quarterly cash distributions and to return the
original issue price of $10.00 to holders of Preferred Shares on
March 30, 2027.
About Brompton Funds
Founded in 2000, Brompton is an experienced
investment fund manager with income and growth focused investment
solutions including exchange-traded funds (ETFs) and other TSX
traded investment funds. For further information, please contact
your investment advisor, call Brompton’s investor relations line at
416-642-6000 (toll-free at 1-866-642-6001), email
info@bromptongroup.com or visit our website at
www.bromptongroup.com.
You will usually pay brokerage fees to your
dealer if you purchase or sell shares of the Fund on the TSX or
other alternative Canadian trading system (an “exchange”). If the
shares are purchased or sold on an exchange, investors may pay more
than the current net asset value when buying shares of the Fund and
may receive less than the current net asset value when selling
them.
There are ongoing fees and expenses associated
with owning shares of an investment fund. An investment fund must
prepare disclosure documents that contain key information about the
fund. You can find more detailed information about the Fund in its
public filings available at www.sedarplus.ca. Investment funds are
not guaranteed, their values change frequently and past performance
may not be repeated.
Certain statements contained in this document
constitute forward-looking information within the meaning of
Canadian securities laws. Forward-looking information may relate to
matters disclosed in this document and to other matters identified
in public filings relating to the Fund, to the future outlook of
the Fund and anticipated events or results and may include
statements regarding the future financial performance of the Fund.
In some cases, forward-looking information can be identified by
terms such as “may”, “will”, “should”, “expect”, “plan”,
“anticipate”, “believe”, “intend”, “estimate”, “predict”,
“potential”, “continue” or other similar expressions concerning
matters that are not historical facts. Actual results may vary from
such forward-looking information. Investors should not place undue
reliance on forward-looking statements. These forward-looking
statements are made as of the date hereof and we assume no
obligation to update or revise them to reflect new events or
circumstances.
The securities offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or any
applicable exemption from the registration requirements. This news
release does not constitute an offer to sell or the solicitation of
an offer to buy securities nor will there be any sale of such
securities in any state in which such offer, solicitation or sale
would be unlawful.
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