REG - Touchstone Explrtn. - Private Placement Update

Touchstone ExplorationAnnouncement

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RNS Number : 9586M  Touchstone Exploration Inc.  16 June 2025

Touchstone Exploration PROVIDES PRIVATE PLACEMENT UPDATE

 

CALGARY, ALBERTA (June 16, 2025) - Touchstone Exploration Inc. ("Touchstone"
or the "Company") (TSX, LSE: TXP) provides the following update regarding its
previously announced private placement.

 

Further to the Company's May 8, 2025 announcement regarding a £15.375 million
private placement arranged by Portillion Capital and OAK Securities, the
Company advises that £10.325 million of the gross proceeds remains
outstanding. Touchstone has been informed that Portillion Capital and OAK
Securities are finalizing documentation related to the settlement of proceeds
from certain institutional investors. The Company expects to receive the
outstanding funds on or before the close of business on June 20, 2025.

 

To date, the Company has received £5.05 million in gross proceeds, with the
corresponding settlement completed through the issuance of new Touchstone
common shares of no-par value. These proceeds have been allocated to the
ongoing Cascadura drilling program and for general working capital purposes.
The delay in receiving the remaining funds has not impacted the Company's
current capital activities.

 

On May 16, 2025, the Company issued 75,000,000 new common shares to the
settlement agent acting on behalf of OAK Securities. Of these, 24,636,586
common shares have been distributed to investors. The remaining 50,363,414
shares are being held by the settlement agent and will be issued upon receipt
of the outstanding funds.

 

The Toronto Stock Exchange has extended its conditional approval of the
private placement, permitting the Company to complete the offering on or
before June 20, 2025.

 

Touchstone will provide a further update in due course.

 

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
(http://www.touchstoneexploration.com) or contact:

 

Touchstone Exploration Inc.

Paul Baay, President and Chief Executive Officer
    Tel: +1 (403) 750-4405

Scott Budau, Chief Financial Officer

 

Shore Capital (Nominated Advisor and Joint Broker)

Daniel Bush / Toby Gibbs / Tom Knibbs
             Tel: +44 (0) 207 408 4090

 

Canaccord Genuity (Joint Broker)

Adam James / Charlie
Hammond
   Tel: +44 (0) 207 523 8000

 

FTI Consulting (Financial PR)

Nick Hennis / Ben Brewerton / Lucy Wigney
          Tel: +44 (0) 203 727 1000

Email: touchstone@fticonsulting.com (mailto:touchstone@fticonsulting.com)

 

Advisory Regarding Forward-Looking Statements

 

The information provided in this announcement contains certain forward-looking
statements and information (collectively, "forward-looking statements") within
the meaning of applicable securities laws. Such forward-looking statements
include, without limitation, forecasts, estimates, expectations and objectives
for future operations that are subject to assumptions, risks and
uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expect", "believe",
"estimate", "potential", "anticipate", "forecast", "pursue", "aim", "intends",
and similar expressions, or are events or conditions that "will", "would",
"may", "could" or "should" occur or be achieved. The forward-looking
statements contained in this announcement speak only as of the date hereof and
are expressly qualified by this cautionary statement.

 

Specifically, this announcement includes, but is not limited to,
forward-looking statements relating to the Company's business plans,
strategies, priorities and development plans; the expected completion of the
private placement and the timing thereof; and Touchstone's current and future
financial position, including the sufficiency of resources to fund future
capital expenditures and maintain financial liquidity. The Company's actual
decisions, activities, results, performance, or achievement could differ
materially from those expressed in, or implied by, such forward-looking
statements and accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur or, if
any of them do, what benefits that Touchstone will derive from them.

 

Although the Company believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance should
not be placed on the forward-looking statements because the Company can give
no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of factors and
risks. Certain of these risks are set out in more detail in the Company's 2024
Annual Information Form dated March 19, 2025 which is available online under
the Company's profile on SEDAR+ (www.sedarplus.ca (http://www.sedarplus.ca) )
and on the Company's website (www.touchstoneexploration.com
(http://www.touchstoneexploration.com) ). The forward-looking statements
contained in this announcement are made as of the date hereof, and except as
may be required by applicable securities laws, the Company assumes no
obligation or intent to update publicly or revise any forward-looking
statements made herein or otherwise, whether as a result of new information,
future events or otherwise.

 

This announcement contains information that qualified or may have qualified as
inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 ("MAR") as it forms part of UK domestic law by virtue
of the EUWA ("UK MAR"), encompassing information relating to the Company's
preliminary annual 2025 capital budget and financial guidance. For the
purposes of UK MAR and Article 2 of the binding technical standards published
by the Financial Conduct Authority in relation to MAR as regards Commission
Implementing Regulation (EU) 2016/1055, the person responsible for the release
of this announcement is Paul Baay, President and Chief Executive Officer.

 

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