VANCOUVER, BC, Dec. 13,
2024 /CNW/ - TAG Oil Ltd. (TSXV: TAO) (OTCQX:
TAOIF) (FSE: T0P) ("TAG Oil" or the "Company")
announces an update to the recently closed public offering of
40,093,900 units of TAG Oil ("Units"), with each Unit
consisting of one common share of the Company ("Common
Share") and one Common Share purchase warrant entitling the
holder thereof to purchase one Common Share at an exercise price of
$0.25 at any time up to 24 months
following the closing (the "Offering").
Pursuant to the terms of the agency agreement dated effective
October 17, 2024, Research Capital
Corporation (the "Lead Agent"), as the Lead Agent and sole
bookrunner, on behalf of a syndicate of agents including Beacon
Securities Limited, Canaccord Genuity Corp., Haywood Securities
Inc., Ventum Financial Corp., and Tennyson Securities (collectively
with the Lead Agent, the "Agents") received: (a) an
aggregate cash commission of $375,501.78, which is equal to 6.0% of the
aggregate gross proceeds of the Offering, including proceeds on
subscriptions from certain subscribers on a president's list (the
"President's List"), for which the Agents received cash
commission equal to 3.0% of the aggregate gross proceeds raised
from the President's List; and (b) 2,208,834 broker warrants (the
"Broker Warrants"), which is equal to 6.0% of the aggregate
number of Units sold under the Offering, including Units sold to
the President's List, for which the Agents received such number of
Broker Warrants equal to 3.0% of the number of Units sold to
subscribers on the President's List. Each Broker Warrant is
exercisable to acquire one Common Share at a price of $0.17 for a period of 24 months from the closing
date.
About TAG Oil Ltd.
TAG Oil (http://www.tagoil.com/) is a Canadian based
international oil and gas exploration company with a focus on
operations and opportunities in the Middle East and North Africa.
Website: http://www.tagoil.com/
LinkedIn: https://www.linkedin.com/company/tag-oil-ltd
X: https://twitter.com/tagoilltd
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of TAG Oil.
All estimates and statements that describe the Company's operations
are forward-looking statements under applicable securities laws and
necessarily involve risks and uncertainties. Actual results may
vary materially from the information provided in this release, and
there is no representation by TAG Oil that the actual results
realized in the future will be the same in whole or in part as
those presented herein. TAG Oil undertakes no obligation, except as
otherwise required by law, to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors change.
SOURCE TAG Oil Ltd.
