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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (3107)	10/23/2013 6:27:25 PM
From: Goose94	Read Replies (1) \| Respond to of 203432

TAG Oil (TAO-T) 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 (Canada) Inc., Cormark Securities Inc., Mackie Research Capital Corp. and M Partners Inc., pursuant to which the underwriters have agreed to purchase, on a bought-deal basis for resale to the public, 5.7 million common shares of the company at a price of $4.40 per common share for aggregate gross proceeds of $25.08-million. 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 overallotment option is exercisable in whole or in part at any time prior to 30 days after the closing date. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be approximately $28,842,000. Net proceeds of the offering shall be primarily used to: Carry out and accelerate Taranaki basin drilling, completion and commercialization projects, including TAG's deep Kapuni projects; Build TAG's East Coast basin unconventional project team; Build a longer-term, clearly defined and executable exploration and development program in the East Coast and Canterbury basins in New Zealand; Increase TAG's land position in the East Coast and Taranaki basins; For general corporate purposes. Closing of the offering is expected to occur on or about Nov. 13, 2013, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities. We seek Safe Harbor.