REG - Touchstone Explrtn. - SALE OF COMMON SHARES

Touchstone ExplorationAnnouncement

20/04/2022 07:00

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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 (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.

 

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  Common Shares of Touchstone Exploration Inc.

     Identification code

                                                                  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                                       1.   Aggregated volume: 6,800 common shares

     -  Aggregated volume                                         Aggregated price: C$1.53 (93.3p) each

     -  Price                                                     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

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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