VANCOUVER, April 28, 2017 /PRNewswire/ - TAG Oil Ltd.
(the "Company" or "TAG Oil") (TSX: TAO and OTCQX: TAOIF) announces
that the Company will distribute approximately 2,785,029 common
shares of Coronado Resources Ltd. (the "Coronado Shares") to its
shareholders of record (the "Dividend") at the close of business on
May 9, 2017 (the "Record Date"). The
ex-distribution date will be May 5,
2017, and the payment or distribution date of the Dividend
will be on or about May 25, 2017.
Upon completion of the Dividend, TAG Oil's shareholders will
receive approximately 0.0326 of a Coronado
Share for each common share of TAG Oil held as of the Record
Date.
Coronado Resources is a Canadian domiciled publicly traded
company that recently disposed of its hydro-electric and mining
assets, and the Coronado Shares are listed on the NEX board of the
TSX Venture Exchange ("TSX-V") under the symbol "CRD.H". The NEX
board is part of the TMX Group and is a unique trading platform for
companies seeking new business opportunities and looking to
ultimately graduate to the TSX-V or the Toronto Stock Exchange main
board.
The Coronado Shares that will be distributed as part of the
Dividend are not an eligible dividend for the purposes of the
Income Tax Act (Canada),
and TAG Oil's shareholders are cautioned to seek the advice of
their own taxation and legal advisors.
The Company has engaged Computershare Investor Services Inc.
("Computershare") to distribute the securities representing a TAG
Oil shareholder's applicable portion of the Dividend to the
addresses shown on the register of the Company's shareholders
maintained by Computershare. Fractional Coronado Shares will not be
distributed, and the number of Coronado Shares to be distributed
will be rounded down to the nearest whole number of Coronado
Shares.
Computershare may be contacted at 1-800-564-6253 (inside
North America) or 1-514-982-7555
(Outside North America) or by e-mail to the
corporateactions@computershare.com.
About TAG Oil
TAG Oil (http://www.tagoil.com/) is a development-stage
international oil and gas producer with established high netback
production, development and exploration assets, including
production infrastructure in New
Zealand and Australia. TAG
Oil is poised for significant reserve and production growth with
several oil and gas fields under development and high-impact
exploration in proven oil and gas fairways. TAG Oil is debt-free
and currently has 85,282,252 shares outstanding.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of TAG Oil.
Such statements can generally, but not always, be identified by
words such as "expects", "plans", "anticipates", "intends",
"estimates", "forecasts", "schedules", "prepares", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. All estimates and statements that
describe the Company's plans relating to the Dividend are
forward-looking statements under applicable securities laws and
necessarily involve risks and uncertainties. Actual results may
vary materially from the information provided in this release, and
there is no representation by TAG Oil that the actual results
realized in the future will be the same in whole or in part as
those presented herein.
Other factors that could cause actual results to differ from
those contained in the forward-looking statements are also set
forth in filings that TAG Oil and its independent evaluator have
made, including TAG Oil's most recently filed reports in
Canada under National Instrument
51-101, which can be found under TAG Oil's SEDAR profile at
www.sedar.com. TAG Oil undertakes no obligation, except as
otherwise required by law, to update these forward-looking
statements in the event that management's beliefs, estimates or
opinions, or other factors change.
SOURCE TAG Oil Ltd.