TransactionsTAG Oil Closes $20 Million Equity FinancingPublished: 06/18/2010 By Nancy Choi, Angela Chu, Andrea FitzGerald, Christopher B. Norton, John P. Vettese On May 5, 2010, TAG Oil Ltd. closed a previously announced equity offering. The Company sold, through a syndicate led by GMP Securities L.P. and including Cormark Securities Inc. a total of 7,700,000 units (which includes the exercise in full of the over-allotment option of 1,000,000 Units) at a price of $2.60 per Unit for gross proceeds of $20,020,000. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant will be exercisable at $3.60 and will entitle the holder thereof to acquire one Common Share for a period of 18 months following the closing of the Offering. Cassels Brock acted for GMP Securities L.P. and the syndicate of underwriters with a team that included John Vettese (Securities), Andrea Fitzgerald (Securities), Nancy Choi (Securities), Angela Chu (Securities) and Chris Norton (Tax). |