SHARE OPTIONS AND DIRECTOR / PDMR PURCHASE

RNS Number : 0565H

Touchstone Exploration Inc.

04 April 2022

 

EXERCISE OF SHARE OPTIONS AND DIRECTOR / PDMR PURCHASE

CALGARY, ALBERTA (April 4, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that on April 1, 2022, Non-executive Directors exercised share options representing a total of 177,500 common shares of no par value in the Company ("Common Shares").

Non-executive Director Dr. Harrie Vredenburg exercised share options representing a total of 80,000 Common Shares at a price of C$0.15 (approximately 9.1 pence) per Common Share. Dr. Vredenburg's share options were previously granted in 2017 in accordance with the Company's Share Option Plan. Non-executive Director Kenneth McKinnon exercised share options representing 97,500 Common Shares at a price of C$0.25 (approximately 15.2 pence) per Common Share.  Mr. McKinnon's share options were previously granted in 2018 in accordance with the Company's Share Option Plan.

Application has been made for the 177,500 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 8, 2022. Immediately following Admission, the Company's issued share capital will consist of 211,341,027 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 the interest in, the Company.

Touchstone was informed that on April 1, 2022, Ms. Beverley Smith, Non-executive Director, purchased 11,662 common shares.

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	1. Harrie Vredenburg 2. Kenneth McKinnon 3. Beverley Smith
2	Reason for the notification
a)	Position/status	1. Non-executive Director 2. Non-executive Director 3. 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	1. Common shares of no par value 2. Common shares of no par value 3. Common shares of Touchstone Exploration Inc. CA89156L1085
b)	Nature of the transaction	1.  Exercise of 80,000 common share options 2.  Exercise of 97,500 common share options 3.  Purchase of common shares on the open market
c)	Price(s) and volume(s)	Effective Price Volume 1. C$0.15 (9.1p) 80,000 2. C$0.25 (15.2p) 97,500 3. C$1.41 (85.7p) 11,662
d)	Aggregated information - Aggregated volume - Price	1. Aggregated volume: 80,000 share options exercised   Aggregated price: C$0.15 (9.1p) each   Aggregated total C$12,000 (£7,317) 2. Aggregated volume: 97,500 share options exercised   Aggregated price: C$0.25 (15.2p) each   Aggregated total C$24,375 (£14,863) 3. N/A (single transaction)
e)	Date of the transaction	1.  01 April 2022 2.  01 April 2022 3.  01 April 2022
f)	Place of the transaction	1.  Off market transaction 2.  Off market transaction 3.  AIM

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]

Advisory

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.64 to 1.00.

 

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