TAG Oil Announces Closing of $25.3 Million Underwritten Offering of Common Shares
TAG Oil Ltd. (“TAG Oil” or the “Company”, TSXV: TAO and OTCQX: TAOIF) is pleased to announce the closing of its previously announced underwritten public offering (the “Offering”) of 63,250,000 common shares of the Company (the “Common Shares”), at a price of $0.40 per Common Share for aggregate gross proceeds of $25.3 million, including the full exercise of the over-allotment option. The Offering was conducted by a syndicate of underwriters led by Research Capital Corporation, as co-lead underwriter and sole-bookrunner and Echelon Capital Markets, as co-lead underwriter and Tennyson Securities. The Company intends to use the net proceeds of the Offering