TAG Oil Announces Closing of $11.5 Million Offering, Including Full Exercise of the Over-Allotment Option, to Advance Unconventional Development Activities on its Large Oil-In-Place Resource Play at BED-1 and SERQ Concessions, Egypt
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TAG Oil Ltd. (TSXV: TAO, OTCQB: TAOIF, and FSE: T0P) (“TAG Oil” or the “Company”) is pleased to announce that it has closed its previously announced brokered, best-efforts offering of units of the Company (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $11,500,000, including the full exercise of the over-allotment option. The Offerings (as defined herein) was led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate of agents