Lifting of Stock Restriction

RNS Number : 5681D

Touchstone Exploration Inc.

27 June 2019

 

27 June 2019

Touchstone Exploration Inc.

("Touchstone" or the "Company")

Lifting of Stock Restriction

On February 19, 2019, Touchstone Exploration Inc. (TSX / LSE: TXP), an oil and gas exploration and production company active in the Republic of Trinidad and Tobago, announced a £3.8 million (approximately US$5.0 million) private placement through the issuance of 31,666,667 new common shares of no par value (the "Placing Shares").

On February 26, 2019 the Placing Shares were admitted to trading on the AIM market of the London Stock Exchange. The Placing Shares ranked pari passu in all respects with the existing common shares save that there was a temporary restriction on the transfer of the Placing Shares into Canada for a period of four months and one day from the day on which the Placing Shares were issued (the "Initial Restriction Period").

The Initial Restriction Period has lapsed today. Consequently, all of the Company's common shares are now freely transferable on the Toronto Stock Exchange.

Touchstone is using the net proceeds of the private placement to fund the first exploration well on its Ortoire property.

For further information:

Touchstone Exploration Inc.

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

Mr. Scott Budau, Chief Financial Officer

www.touchstoneexploration.com

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".

 

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