CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) (TSX: TWM) is pleased to announce that it will be upsizing its previously announced bought deal public offering (the “Public Offering”) of units (“Units”). Under the Public Offering, a syndicate of underwriters (the “Underwriters”), led by CIBC Capital Markets, National Bank Financial, RBC Capital Markets and ATB Capital Markets, have agreed to buy on a bought deal basis 42,080,000 Units of the Company, at a price of $1.20 per Unit for gross proceeds of $50.5 million. The terms of the previously announced private placement (the “Private Placement”) remain unchanged. In total, the Company will issue $85 million of Units at a price of $1.20 per Unit (the “Issue Price”) under the Public Offering and Private Placement (collectively the “Offering”).