HONG KONG, June 28, 2022 /CNW/ - YF Finance Limited ("YFF") reports that, on June 24, 2022, YFF disposed of ownership and control of 8,494,000 common shares (the "Common Shares") of TAG Oil Ltd. ("TAG") by way of in-kind distribution of assets to its shareholder.
Immediately prior to the disposition, YFF owned 16,988,000 Common Shares, representing approximately 18.51% of the then issued and outstanding Common Shares of TAG on a non-diluted basis. Following the disposition, YFF owns and exercises control over an aggregate of 8,494,000 Common Shares, representing approximately 9.26% of the issued and outstanding Common Shares of TAG on a non-diluted basis. As a result of the disposition, YFF is no longer subject to the 10.0% threshold requiring disclosure under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103").
YFF's disposition of the Common Shares was solely for investment management restructuring purposes. YFF may take actions in the future in respect of its security holdings in TAG based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of Common Shares, whether in the open market, by privately negotiated agreement or otherwise.
YFF's head office is located at Market Square, 3rd Floor, Yamraj Building, P.O. Box 3175, Road Town, Tortola, British Virgin Islands, VG1110. TAG's head office is located at 2040-885 West Georgia Street, Vancouver, British Columbia V6C 3E8.
This press release is being issued pursuant to NI 62-103 which requires an early warning report to be filed under YFF'S profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters. For a copy of such report or further information, you may contact:
YF Finance Limited
Level 37, 41 Heung Yip Road
Wong Chuk Hang, Hong Kong
Attention: Paul Marchand
Phone: 852 2239 5300
SOURCE YF Finance Limited
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