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TAG Oil Announces Closing of $11.5 Million Offering, Including Full Exercise of the Over-Allotment Option, to Advance Unconventional Development Activities on Its Large Oil-In-Place Resource Play at BED-1 and SERQ Concessions, Egypt
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that it has closed its previously announced brokered, best-efforts offering of units of the Company (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of $11,500,000, including the full exercise of the over-allotment option. The Offerings (as defined herein) was led by Research Capital Corporation as the...
About this update from Tag Oil Ltd
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that it has closed its previously announced brokered, best-efforts offering of units of the Company (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of $11,500,000, including the full exercise of the over-allotment option. The Offerings (as defined herein) was led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents"). The Offerings consisted of:","length":662,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"$5,640,000 of Units, issued on a prospectus-exempt basis pursuant to the "listed issuer financing exemption" set out in Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") and CSA Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption under applicable Canadian securities laws (the "LIFE Offering"); and","length":413,"tagName":"p"}]},{"val":[{"type":"text","content":"$5,860,000 of Units, issued under a private placement pursuant to applicable prospectus exemptions in accordance with NI 45-106 ("Private Placement Offering", and together with the LIFE Offering, the "Offerings").","length":233,"tagName":"p"}]}],"tagName":"ol","bulletedList":false,"length":646},{"type":"text","content":"Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitle the holder thereof to purchase one Common Share at an exercise price of $0.13 per Common Share until February 18, 2030.","length":286,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds of the Offerings to advance appraisal and development activities at both the Badr Oil Field ("BED-1") and the Southeast Ras Qattara concessions ("SERQ Concession"), in the Western Desert, Egypt and for working capital and general corporate purposes. Activities to be advanced with the financing proceeds include a) the drilling of a new vertical delineation well at BED-1 in the unconventional...