EXERCISE OF SHARE OPTIONS

RNS Number : 9224C

Touchstone Exploration Inc.

24 June 2021

 

EXERCISE OF SHARE OPTIONS

CALGARY, ALBERTA (June 24, 2021) - Touchstone Exploration Inc. ("Touchstone" or the "Company") reports that on June 15, 2021, our executive officers exercised an aggregate 700,000 share options representing 700,000 common shares of no par value in the Company ("Common Shares") which were set to expire on June 16, 2021.

As part of this exercise, President and Chief Executive Officer Paul R. Baay exercised share options representing 300,000 Common Shares, Chief Financial Officer Scott Budau exercised share options representing 200,000 Common Shares and Chief Operating Officer James Shipka exercises share options representing 200,000 Common Shares, all at a price of C$0.23 (approximately 13.4 pence) per Common Share.

Application has been made for the 700,000 new Common shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"), which is expected on June 25, 2021. Immediately following Admission, the Company's issued share capital will consist of 210,731,727 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	1.  Paul R. Baay 2.  Scott Budau 3.  James Shipka
2	Reason for the notification
a)	Position/status	1.  President, Chief Executive Officer and Executive Director 2.  Chief Financial Officer 3.  Chief Operating Officer
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.  Exercise of 300,000 share options 2.  Exercise of 200,000 share options 3.  Exercise of 200,000 share options
c)	Prices and volumes	Effective Prices Volumes 1. C$0.23 (13.4p) 300,000 2. C$0.23 (13.4p) 200,000 3. C$0.23 (13.4p) 200,000
d)	Aggregated information -  Aggregated volume -  Price	1.  Aggregated volume: 300,000 share options exercised Aggregated price: C$0.23 (13.4p) each Aggregate total C$69,000 (£40,200) 2.  Aggregated volume: 200,000 share options exercised Aggregated price: C$0.23 (13.4p) each Aggregated total: C$46,000 (£26,800) 3.  Aggregated volume: 200,000 share options exercised Aggregated price: C$0.23 (13.4p) each Aggregated total: C$46,000 (£26,800)
e)	Date of the transaction	1.  15 June 2021 2.  15 June 2021 3.  15 June 2021
f)	Place of the transaction	1.  Off market transaction 2.  Off market transaction 3.  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 1.72 to 1.00.

 

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