REG - Touchstone Explrtn. - EXERCISE OF SHARE OPTIONS

Touchstone ExplorationAnnouncement

01/04/2022 17:30

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RNS Number : 0447H  Touchstone Exploration Inc.  01 April 2022

 

EXERCISE OF SHARE OPTIONS

 

CALGARY, ALBERTA (April 1, 2022) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that on March
31, 2022, non-executive director Stanley Smith exercised share options
representing a total of 185,000 common shares of no par value in the Company
("Common Shares") at a weighted average price of C$0.23 (approximately 14
pence) per Common Share. The share options were previously granted in 2017 and
2018 in accordance with the Company's Share Option Plan.

 

Application has been made for the 185,000 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 April 7, 2022. Immediately
following Admission, the Company's issued share capital will consist of
211,163,527 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 the 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                                                         Stanley Smith
 2    Reason for the notification
 a)   Position/status                                              Non-Executive Director
 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  Common shares of no par value

      Identification code

                                                                   CA89156L1085
 b)   Nature of the transaction                                    Exercise of 185,000 common share options
 c)   Price(s) and volume(s)                                       Effective Price  Volume

                                                            1.  C$0.21 (12.8p)   92,500
                                                                   2.  C$0.25 (15.2p)   92,500
 d)   Aggregated information                                       Aggregated volume: exercise of 185,000 share options

      - Aggregated volume                                          Aggregated price: C$0.23 (14p) each

      - Price                                                      Aggregated total: C$42,550 (£25,945)
 e)   Date of the transaction                                      31 March 2022
 f)   Place of the transaction                                     Off market transaction

d)

 

Aggregated information

- Aggregated volume

- Price

Aggregated volume: exercise of 185,000 share options

Aggregated price: C$0.23 (14p) each

Aggregated total: C$42,550 (£25,945)

e)

Date of the transaction

31 March 2022

f)

Place of the transaction

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

 

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive
Officer                             Tel: +1 (403)
750-4487

Mr. Scott Budau, Chief Financial Officer

 

Shore Capital (Nominated Advisor and Joint Broker)

Daniel Bush / Toby Gibbs / Michael McGloin
                        Tel: +44 (0) 207 408 4090

 

Canaccord Genuity (Joint Broker)

Adam James / Henry Fitzgerald O'Connor / Thomas
Diehl                       Tel: +44 (0) 207 523 8000

 

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily
Pettifar
                        Tel: +44 (0) 203 781 8330

 

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.

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