YF FINANCE LIMITED ANNOUNCES DISPOSITION OF COMMON SHARES OF TAG OIL LTD.

HONG KONG, Dec. 13, 2022 /CNW/ - YF Finance Limited ("YFF") reports that, on December 6, 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 21,500,500 Common Shares, representing approximately 13.87% 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 13,006,500 Common Shares, representing approximately 8.39% 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.

SOURCE YF Finance Limited

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: [phone]