GRANT OF SHARE OPTIONS

RNS Number : 3556V

Touchstone Exploration Inc.

08 April 2019

 

GRANT OF SHARE OPTIONS

Calgary, Alberta - April 8, 2019 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) announces the grant of 2,550,000 share options on April 5, 2019 to its executive officers, non-executive directors and key employees in accordance with the Company's shareholder approved stock option plan. The grant was awarded to the following recipients:

Recipient	Number of share options granted
Paul R. Baay, President, Chief Executive Officer and Director	450,000
Scott Budau, Chief Financial Officer	300,000
James Shipka, Chief Operating Officer	300,000
Kenneth R. McKinnon, Non-Executive Director	132,500
Peter Nicol, Non-Executive Director	132,500
Stanley T. Smith, Non-Executive Director	127,500
Thomas E. Valentine, Non-Executive Director	135,000
Dr. Harrie Vredenburg, Non-Executive Director	115,000
John D. Wright, Non-Executive Director	137,500
Employees	720,000
Total	2,550,000

The share options were issued with an exercise price of C$0.23 per common share, which was measured by reference to the five-day weighted average trading price of the Company's common shares on the Toronto Stock Exchange to the close of trading on April 4, 2019. The share options have a five-year term and vest one third on each of the next three anniversaries of the grant date.

Following this grant, the Company has a total of 11,099,640 share options and incentive share options outstanding, representing approximately 6.9% of the Company's outstanding common shares.

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

For Further Information:

Touchstone Exploration Inc.

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

Mr. James Shipka, Chief Operating Officer

www.touchstoneexploration.com

Shore Capital (Nominated Advisor and Joint Broker)

Nominated Advisor: Edward Mansfield / Mark Percy / Daniel Bush Tel: [phone]

Corporate Broking: Jerry Keen

GMP FirstEnergy (Joint Broker)

Jonathan Wright / Hugh Sanderson                                                          Tel: [phone]

Camarco (Financial PR)

Nick Hennis / Jane Glover / Billy Clegg                                                    Tel: [phone]

About Touchstone

Touchstone Exploration Inc. is a Calgary 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".

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.   Paul R. Baay 2.   Scott Budau 3.   James Shipka 4.   Kenneth R. McKinnon 5.   Peter Nicol 6.   Stanley T. Smith 7.   Thomas E. Valentine 8.   Dr. Harrie Vredenburg 9.   John D. Wright
2.	Reason for the notification
a)	Position/status	1.   Chief Executive Officer 2.   Chief Financial Officer 3.   Chief Operating Officer 4.   Non-Executive Director 5.   Non-Executive Director 6.   Non-Executive Director 7.   Non-Executive Director 8.   Non-Executive Director 9.   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	Options over common shares of no par value in the capital of Touchstone Exploration Inc., each with an exercise price of C$0.23 and an expiry date of 4 April 2024. CA89156L1085
b)	Nature of the transactions	Grant of share options to executive directors/officers
c)	Price(s) and volume(s)	Effective price Volume(s) 1. Nil 450,000 2. Nil 300,000 3. Nil 300,000 4. Nil 132,500 5. Nil 132,500 6. Nil 127,500 7. Nil 135,000 8. Nil 115,000 9. Nil 137,500
d)	Aggregated information - Aggregated volume - Price	Aggregate volumes 1.   450,000 2.   300,000 3.   300,000 4.   132,500 5.   132,500 6.   127,500 7.   135,000 8.   115,000 9.   137,500 Aggregate prices 1.   Nil 2.   Nil 3.   Nil 4.   Nil 5.   Nil 6.   Nil 7.   Nil 8.   Nil 9.   Nil
e)	Date of the transaction	5 April 2019
f)	Place of the transaction	Outside a trading venue

 

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