REG - Touchstone Explrtn. - SHARE OPTIONS AND DIRECTOR / PDMR PURCHASE

Touchstone ExplorationAnnouncement

04/04/2022 07:00

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RNS Number : 0565H  Touchstone Exploration Inc.  04 April 2022

 

EXERCISE OF SHARE OPTIONS AND DIRECTOR / PDMR PURCHASE

 

CALGARY, ALBERTA (April 4, 2022) - Touchstone Exploration
Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that on April
1, 2022, Non-executive Directors exercised share options representing a total
of 177,500 common shares of no par value in the Company ("Common Shares").

 

Non-executive Director Dr. Harrie Vredenburg exercised share options
representing a total of 80,000 Common Shares at a price of C$0.15
(approximately 9.1 pence) per Common Share. Dr. Vredenburg's share options
were previously granted in 2017 in accordance with the Company's Share Option
Plan. Non-executive Director Kenneth McKinnon exercised share options
representing 97,500 Common Shares at a price of C$0.25 (approximately 15.2
pence) per Common Share.  Mr. McKinnon's share options were previously
granted in 2018 in accordance with the Company's Share Option Plan.

 

Application has been made for the 177,500 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 8, 2022. Immediately
following Admission, the Company's issued share capital will consist of
211,341,027 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.

 

Touchstone was informed that on April 1, 2022, Ms. Beverley Smith,
Non-executive Director, purchased 11,662 common shares.

 

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                                                         1. Harrie Vredenburg

                                                                   2. Kenneth McKinnon

                                                                   3. Beverley Smith
 2    Reason for the notification
 a)   Position/status                                              1. Non-executive Director

                                                                   2. Non-executive Director

                                                                   3. 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  1. Common shares of no par value

                                                                   2. Common shares of no par value

      Identification code                                          3. Common shares of Touchstone Exploration Inc.

                                                                   CA89156L1085
 b)   Nature of the transaction                                    1.  Exercise of 80,000 common share options

                                                                   2.  Exercise of 97,500 common share options

                                                                   3.  Purchase of common shares on the open market
 c)   Price(s) and volume(s)                                       Effective Price  Volume

                                                            1.  C$0.15 (9.1p)    80,000
                                                                   2.  C$0.25 (15.2p)   97,500
                                                                   3.  C$1.41 (85.7p)   11,662
 d)   Aggregated information                                       1. Aggregated volume: 80,000 share options exercised

      - Aggregated volume                                              Aggregated price: C$0.15 (9.1p) each

      - Price                                                          Aggregated total C$12,000 (£7,317)

                                                                   2. Aggregated volume: 97,500 share options exercised

                                                                       Aggregated price: C$0.25 (15.2p) each

                                                                       Aggregated total C$24,375 (£14,863)

                                                                   3. N/A (single transaction)
 e)   Date of the transaction                                      1.  01 April 2022

                                                                   2.  01 April 2022

                                                                   3.  01 April 2022
 f)   Place of the transaction                                     1.  Off market transaction

                                                                   2.  Off market transaction

                                                                   3.  AIM

d)

 

Aggregated information

- Aggregated volume

- Price

1. Aggregated volume: 80,000 share options exercised

    Aggregated price: C$0.15 (9.1p) each

    Aggregated total C$12,000 (£7,317)

2. Aggregated volume: 97,500 share options exercised

    Aggregated price: C$0.25 (15.2p) each

    Aggregated total C$24,375 (£14,863)

3. N/A (single transaction)

e)

Date of the transaction

1.  01 April 2022

2.  01 April 2022

3.  01 April 2022

f)

Place of the transaction

1.  Off market transaction

2.  Off market transaction

3.  AIM

 

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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