Director/PDMR Shareholding

RNS Number : 7344G

Touchstone Exploration Inc.

31 March 2022

 

EXERCISE OF SHARE OPTIONS AND DIRECTOR / PDMR SHAREHOLDING

CALGARY, ALBERTA (March 31, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) reports that certain employees exercised share options representing a total of 151,800 common shares of no par value in the Company ( " Common Shares " ) on March 30, 2022.

Application has been made for the 151,800 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"), which is expected on April 5, 2022. Immediately following Admission, the Company's issued share capital will consist of 210,978,527 Common Shares. The Company does not hold any Common Shares in treasury. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company.

Touchstone was informed that on March 30, 2022, Mr. John Wright, Non-executive Director and Chair of the Board of Directors of the Company, purchased 250,000 Common Shares into a registered retirement savings plan ("RRSP") and concurrently sold 250,000 Company Common Shares from his personal holdings. Following this transaction there was no change to Mr. Wright's beneficial holding, and his interest in the Company remains at 5,010,348 Common Shares, representing approximately 2.4% of the Company's issued share capital.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail of the transactions.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John D. Wright
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Touchstone Exploration Inc.
b)	LEI	2138008URBSUC1J24J73
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Common shares of Touchstone Exploration Inc. CA89156L1085
b)	Nature of the transaction	1.  Purchase of Common Shares into a RRSP 2.  Sale of Common Shares from a personal holding
c)	Price(s) and volume(s)	Effective Price Volumes 1. C$1.47 250,000 2. C$1.45 250,000
d)	Aggregated information - Aggregated volume - Price	N/A (equal purchase and sale)
e)	Date of the transaction	March 30, 2022
f)	Place of the transaction	Toronto Stock Exchange

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol " TXP " .

For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer  Tel: [phone]

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Advisor and Joint Broker)

Daniel Bush / Toby Gibbs / Michael McGloin      Tel: [phone]

Canaccord Genuity (Joint Broker) 

Adam James / Henry Fitzgerald O'Connor / Thomas Diehl   Tel: [phone]

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily Pettifar    Tel: [phone]

 

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