EXERCISE OF SHARE OPTIONS

RNS Number : 2091Z

Touchstone Exploration Inc.

20 May 2021

 

EXERCISE OF SHARE OPTIONS

CALGARY, ALBERTA (May 20, 2021) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces that on May 18, 2021, a non-executive director exercised share options representing a total of 75,000 common shares of no par value in the Company ( " Common Shares " ).

Non-executive director Thomas Valentine exercised share options representing 75,000 Common Shares at a price of C$0.23 per Common Share (approximately 13.5 pence per Common Share). The share options were previously granted in 2016 in accordance with the Company's Share Option Plan.

Application has been made for the 75,000 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"). These new Common Shares are expected to be admitted to trading on AIM on May 28, 2021. Immediately following Admission, the Company's issued share capital will consist of 209,474,627 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.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Thomas E. Valentine
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	Exercise of 75,000 common share options
c)	Prices and volumes	Effective Price Volume 1 C$0.23 (13.5p) 75,000
d)	Aggregated information -  Aggregated volume -  Price	Aggregated volume: exercise of 75,000 share options Aggregated price: C$0.23 (13.5p) each Aggregated total: C$17,250 (£10,125)
e)	Date of the transaction	18 May 2021
f)	Place of the transaction	Off market transaction

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)

Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin  Tel: [phone]

Corporate Broking: Jerry Keen

Canaccord Genuity (Joint Broker) 

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

Camarco (Financial PR)

Nick Hennis / Billy Clegg    Tel: [phone]

Advisory

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.71 to 1.00.

 

END

 

 

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