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TAG Oil Announces Upsize of Offering to $10 Million 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 3, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that, due to strong investor demand, it has upsized its previously announced brokered, best-efforts offering to $10,000,000 of units of the Company (the "Units") at a price of $0.10 per Unit. The Offerings (as defined herein) are led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate.
About this update from Tag Oil Ltd
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 3, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that, due to strong investor demand, it has upsized its previously announced brokered, best-efforts offering to $10,000,000 of units of the Company (the "Units") at a price of $0.10 per Unit. The Offerings (as defined herein) are led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents"). The Offerings shall consist of:","length":616,"tagName":"p"},{"type":"text","content":"a) $5,640,000 of Units, to be issued on a prospectus-exempt basis pursuant to the LIFE Exemption (defined below) under applicable Canadian securities laws (the "LIFE Offering"); and","length":191,"tagName":"p","attribs":{}},{"type":"text","content":"b) $4,360,000 of Units, to be 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":242,"tagName":"p","attribs":{}},{"type":"text","content":"Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.13 per Common Share for a period of 48 months following the closing of the Offering. In addition, the Company will use commercially reasonable efforts to obtain the necessary approvals to list the Warrants on the TSX Venture Exchange (the "Exchange").","length":513,"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"), 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 Abu Roash "F" ("ARF") resource play targeting lighter gravity crude in a high intensity nat...