Date Closed

November 4, 2022

Lead Office

Calgary

Value

25.30 Million CAD

On November 4, 2022, TAG Oil Ltd. announced that it had closed its underwritten public offering (the “Offering”) of 63,250,000 common shares (each a “Share” and collectively, the “Shares”) at a price of $0.40 per Share (including 8,250,000 Shares sold in connection with the full exercise of the over-allotment option), for aggregate gross proceeds of C$25,300,000, pursuant to a short form prospectus dated October 28, 2022.

The Offering was conducted by a syndicate of underwriters co-led by Research Capital Corporation (as Sole Bookrunner) and Echelon Capital Markets, together with Tennyson Securities.

Research Capital Corporation is a leading, independent investment dealer, which provides a complete range of capital markets and wealth management services to private clients, institutions and growth companies.

McCarthy Tetrault advised Research Capital Corporation with a team led by Gordon Cameron that included Farhiyah Shariff, Simran Choongh, Matthew Hooker, and Karsten Carriere (Business).