TAG Oil Reports Q2 2021 Results

About this update from Tag Oil Ltd

[{"type":"text","content":"\n \n \n \n TAG Oil Reports Q2 2021 Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 16, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 16, 2020\n \n /CNW/ - TAG Oil Ltd. (\"TAG Oil\" or the \"Company\") (TSXV: TAO) (OTCQX: TAOIF) is pleased to report the filing of its second quarter results for the interim period ending\n \n September 30, 2020\n \n . Highlights over the period include:\n \n \n \n At\n \n September 30, 2020\n \n , the Company had\n \n C$15.1 million\n \n (\n \n June 30, 2020\n \n :\n \n C$15.0 million\n \n ) in cash and cash equivalents and\n \n C$17.6 million\n \n (\n \n June 30, 2020\n \n :\n \n C$17.4 million\n \n ) in working capital. The Company has no debt.\n \n \n Capital expenditures totaled\n \n C$0.05 million\n \n for the quarter ended\n \n September 30, 2020\n \n , compared to\n \n C$0.10 million\n \n for the quarter ended\n \n June 30, 2020\n \n . Most of the expenditures during the quarter related to the ATP 2037/2038 seismic acquisition program for 2021.\n \n \n On\n \n September 1, 2020\n \n , the Company announced the following corporate updates:\n \n \n \n Mr.\n \n Abdel (Abby) Badwi\n \n joined the Company as Executive Chairman of the board of directors, along with Mr.\n \n Suneel Gupta\n \n who was appointed as VP and COO of the Company. Messrs.\n \n Shawn Reynolds\n \n and\n \n Thomas Hickey\n \n were also appointed to TAG's board of directors as non-executive directors.\n \n \n The Company completed a non-brokered private placement of 6.25 million units (\"Units\") at a price of\n \n C$0.16\n \n per Unit for aggregate gross proceeds of\n \n C$1.0 million\n \n . Each Unit consists of one common share (\"Common Share\") and one common share purchase warrant (\"Warrant\"), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of\n \n C$0.16\n \n per Common Share for a period of three years from the date of closing.\n \n \n The grant of 4.85 million stock options exercisable for a period of five yea...

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