Finance & Investing | Capital Markets
TAG Oil Raises Capital to Accelerate Taranaki Drilling
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TAG Oil Ltd. has announced that it has entered into an agreement with Dundee Securities Ltd., on behalf of a syndicate of underwriters co-led by Dundee Securities Ltd. and Casimir Capital Ltd., and including Credit Suisse Securities Inc., Cormark Securities Inc., Mackie Research Capital Corporation and M Partners Inc., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis for resale to the public, 5,700,000 common shares of the Company at a price of $4.40 per Common Share for aggregate gross proceeds of $25,080,000.
The Company has also granted the Underwriters an option to purchase, on the same terms as the Offering, up to an additional 855,000 Common Shares at a price of $4.40 per Common Share for additional gross proceeds of $3,762,000. The Over-Allotment…
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