REG - Touchstone Explrtn. - Changes to the Board of Directors

Touchstone ExplorationAnnouncement

09/04/2025 07:00

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RNS Number : 2820E  Touchstone Exploration Inc.  09 April 2025

 

CHANGES TO THE BOARD OF DIRECTORS

 

CALGARY, ALBERTA (April 9, 2025) - Touchstone Exploration Inc. ("Touchstone",
"we", "our" or the "Company") (TSX, LSE: TXP) announces that Mr. John D.
Wright has retired as a member and Chair of the Board of Directors, effective
immediately.

 

We extend our sincere gratitude to Mr. Wright for his invaluable contributions
and dedicated service. His leadership and strategic insight have been
instrumental in guiding Touchstone through key phases of our growth and
development.

 

Touchstone is pleased to announce the appointment of Mr. Kenneth R. McKinnon,
K.C., ICD.D, as Chair of the Board of Directors. A member of our Board of
Directors (the "Board") since 2012, Mr. McKinnon brings extensive experience
in corporate governance, financial oversight, and strategic advisory roles.
His service on numerous public company boards and committees has provided him
with the insight and leadership required to guide Touchstone through our
continued growth. With a strong commitment to governance excellence and an
independent perspective, Mr. McKinnon is well-positioned to support the
Company's long-term growth strategy.

 

Additionally, following a comprehensive review of the Company's governance in
light of our operations, geographic footprint, strategic direction, and scale,
we intend to reduce the size of our Board to six members at the upcoming
Annual Meeting of Shareholders on June 18, 2025 (the "2025 Meeting"). This
strategic decision aims to streamline decision-making, enhance Board
efficiency, and support a more agile governance framework aligned with the
Company's long-term goals. As part of this process, Touchstone is conducting a
thorough evaluation of the skills and expertise required to support our future
Board governance and committee needs. The Company intends to nominate six
current members of the Board for re-election at the 2025 Meeting.

 

Paul Baay, President and Chief Executive Officer, commented:

 

"On behalf of Touchstone, I extend our sincere gratitude to John for his
leadership and unwavering dedication as Chair of the Board since 2012. With a
career in executive leadership across the energy sector, John's strategic
vision and industry insight have been instrumental in driving Touchstone's
growth. His contributions to the Company and to the broader industry through
both his leadership and philanthropy continue to leave a meaningful and
lasting legacy.

 

I am also pleased to welcome Mr. Ken McKinnon as the new Chair of our Board.
Ken brings extensive experience, proven strategic leadership, and deep
industry knowledge that will be invaluable as we advance our growth strategy.
I look forward to working closely with him as we begin this next chapter in
Touchstone's evolution."

 

Ken McKinnon, Chair of the Board, commented:

 

"I would like to thank John for his outstanding service and exemplary
leadership. His guidance has been pivotal in navigating the Company through
key phases of development, and his dedication and expertise have left a
lasting impact on both the Board and the organization. We are deeply grateful
for his many contributions.

 

It is an honour to assume the role of Chair of the Board, and I am appreciated
of the trust and confidence placed in me. I look forward to supporting the
Company's continued progress and long-term success."

 

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 Information

 

The information provided in this announcement may contain 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",
"plan", "anticipate", "believe", "intend", "maintain", "continue to",
"pursue", "design", "result in", "sustain" "estimate", "potential", "growth",
"near-term", "long-term", "forecast", "contingent" 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. 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 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.

 

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