Tamarack Valley Energy Ltd. Announces $125 million Bought Deal Offering of Common Shares TSX: TVE |NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW| CALGARY, AB , Sept. 12, 2022 |CNW| - Tamarack Valley Energy Ltd. (" Tamarack " or the " Company ") has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and National Bank Financial Inc. (the " Underwriters "), pursuant to which the Underwriters have agreed to purchase, for resale to the public, on a bought-deal basis, approximately 33 million common shares (" Common Shares ") of Tamarack at a price of $3.75 per Common Share for gross proceeds of approximately $125.0 million (the " Offering "). The net proceeds from the Offering will be used to partially fund the acquisition of Deltastream Energy Corporation (" Deltastream "), as separately announced today (the " Acquisition "). The Underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at a price of $3.75 per Common Share to cover over-allotments exercisable in whole or in part at any time until 30 days after the closing.