TAG Oil Provides Update on Recently Closed Public Offering

VANCOUVER, BC, Dec. 13, 2024 /CNW/ – TAG Oil Ltd. TAO 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.