REG - Touchstone Explrtn. - PRIVATE PLACEMENT UPDATE

Touchstone ExplorationAnnouncement

23/06/2025 07:00

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RNS Number : 9348N  Touchstone Exploration Inc.  23 June 2025

PRIVATE PLACEMENT UPDATE

 

CALGARY, ALBERTA (June 23, 2025) - Touchstone Exploration Inc. ("Touchstone"
or the "Company") (TSX, LSE: TXP) provides an update regarding its previously
announced private placement.

 

Further to the Company's June 16, 2025 announcement, £10.325 million of the
£15.375 million in gross proceeds from the private placement remains
outstanding. Touchstone has been advised by OAK Securities and Portillion
Capital that the settlement of proceeds from certain investors has taken
longer than anticipated. The Company has received assurances that the
outstanding funds are expected to be received by close of business on June 27,
2025.

 

The Toronto Stock Exchange extended its conditional approval of the private
placement, allowing the Company to complete the offering on or before June 27,
2025.

 

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

 

Operationally, Touchstone has completed running intermediate casing to
approximately 5,800 feet at the Cascadura-5 development well. The Company will
now proceed to drill the primary target zone.

 

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
(https://url.avanan.click/v2/___http:/www.touchstoneexploration.com/___.YXAxZTpzaG9yZWNhcDphOm86NzY3MDI3ZGJhNjJkMTBmN2M5YjgzOTJiZGY5NzNkZDg6NjphOTg1OjlmZDcwMWJhZDA2YzEwMDg1MjJhMGQzMzZjNWZjZTVlMzYyMDBhZTlkZDUzNDBlNjQ5OTc0OWEzOWVjOTNmYTI6cDpUOk4)
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
(https://url.avanan.click/v2/___http:/www.sedarplus.ca/___.YXAxZTpzaG9yZWNhcDphOm86YmQ5MDlmZDBkODY2OWU4NTAwYzQwMDAzYjI0MjU0MmM6Njo4MGY2OjdmNTMwNmYyOWQ4ODllYTgyNzllMzYwMWZhODNmNDc1N2I0NzEyMzNjODZlNmI0MDI3NDBlYjBkNGMxMTQ3NmI6cDpGOk4)
) and on the Company's website (www.touchstoneexploration.com
(https://url.avanan.click/v2/___http:/www.touchstoneexploration.com/___.YXAxZTpzaG9yZWNhcDphOm86YmQ5MDlmZDBkODY2OWU4NTAwYzQwMDAzYjI0MjU0MmM6Njo0YjI4OmNjYzljOTBhYWFhMDQ5OTBiMjhkYTIzYzY5YTI0MzdkOWY2ZjViMjYyMGYzOWE0NzQyM2RjMzFhZTdiNmY4OGM6cDpGOk4)
). 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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