SALE OF COMMON SHARES

RNS Number : 6675I

Touchstone Exploration Inc.

20 April 2022

 

SALE OF COMMON SHARES

CALGARY, ALBERTA (April 20, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) reports that Mr. Scott Budau, the Company's Chief Financial Officer, sold 42,900 Company common shares of no par value ("Common Shares"). The proceeds from the sale of Common Shares were to satisfy a portion of the costs and withholding taxes associated with Mr. Budau's share option exercise announced on April 11, 2022. Mr. Budau sold an aggregate 42,900 Common Shares at a weighted average price of C$1.53 (approximately 93.3 pence) per Common Share on the Toronto Stock Exchange between April 11, 2022 and April 14, 2022.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the 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)

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.

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Scott Budau
2	Reason for the notification
a)	Position/status	Chief Financial 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.  Sale of 6,800 common shares from personal holdings 2.  Sale of 31,800 common shares from personal holdings 3.  Sale of 4,300 common shares from personal holdings
c)	Prices and volumes	Effective Price Volume 1. C$1.53 (93.3p) 6,800 2. C$1.53 (93.3p) 31,800 3. C$1.53 (93.3p) 4,300
d)	Aggregated information -  Aggregated volume -  Price	1.  Aggregated volume: 6,800 common shares Aggregated price: C$1.53 (93.3p) each Aggregate total C$10,404 (£6,344) 2.  Aggregated volume: 31,800 common shares Aggregated price: C$1.53 (93.3p) each Aggregate total C$48,654 (£29,669) 3.  Aggregated volume: 4,300 common shares Aggregated price: C$1.53 (93.3p) each Aggregate total C$6,579 (£4,012)
e)	Date of the transaction	1.  April 11, 2022 2.  April 13, 2022 3.  April 14, 2022
f)	Place of the transaction	Toronto Stock Exchange

 

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