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TAG Oil Ltd (2)
Symbol TAO
Shares Issued 184,662,792
Close 2023-10-10 C$ 0.55
Market Cap C$ 101,564,536
Recent Sedar Documents

TAG Oil prospectus offering

2023-10-10 18:45 ET - Prospectus Approved

This is to confirm that effective Oct. 10, 2023, the company's final short form prospectus dated Aug. 21, 2023, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission. This receipt also evidences that the Ontario Securities Commission has issued a receipt for the prospectus. The prospectus has been filed under Multilateral Instrument 11-102, Passport System, in Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. A receipt for the prospectus is deemed to be issued by the regulator in those jurisdictions, if the conditions of the MI 11-102 have been satisfied.

The TSX Venture Exchange has been advised that closing occurred on Aug. 24, 2023, for gross proceeds of $12,253,394.36, including the gross proceeds from the partial exercise of the overallotment option within 30 days following the closing date.

Underwriters:  Research Capital Corp., Echelon Wealth Partners Inc., Canaccord Genuity Corp. and Haywood Securities Inc.

Offering:  21,126,542 shares (including partial exercise of the overallotment option)

Offering price:  58 cents per share

Underwriters' commissions:  an aggregate of $716,772.85 in cash

Overallotment option:  The company has granted the underwriters an option to purchase an additional 15 per cent of the common shares sold pursuant to the offering. The underwriters partially exercised the overallotment option to acquire 1,274,942 common shares at closing and 886,000 common shares on Sept. 22, 2023, raising $1,253,346.36 in aggregate.

For further information, please refer to the prospectus dated Aug. 21, 2023, and the company's news releases dated July 31, 2023, Aug. 1, 2023, Aug. 24, 2023, and Sept. 22, 2023, which are available under the company's profile on SEDAR+.

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