Touchstone Exploration Inc. EXERCISE OF SHARE OPTIONS (6373A)

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RNS Number : 6373A

Touchstone Exploration Inc.

02 June 2021

EXERCISE OF SHARE OPTIONS

CALGARY, ALBERTA (June 2, 2021) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces that on June 1, 2021, a non-executive director exercised share options representing a total of 80,000 common shares of no par value in the Company ( " Common Shares " ).

Non-executive director Dr. Harrie Vredenburg exercised share options representing 80,000 Common Shares at a price of C$0.23 per Common Share (approximately 13.5 pence per Common Share). The share options were previously granted in 2016 in accordance with the Company's Share Option Plan.

Application has been made for the 80,000 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"). These new Common Shares are expected to be admitted to trading on AIM on June 8, 2021. Immediately following Admission, the Company's issued share capital will consist of 209,714,627 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 their 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                        Harrie Vredenburg 
       --------------------------  ---------------------------------------- 
 2      Reason for the notification 
       -------------------------------------------------------------------- 
 a)     Position/status             Non-Executive Director 
       --------------------------  ---------------------------------------- 
 b)     Initial notification        Initial notification 
         /Amendment 
       --------------------------  ---------------------------------------- 
 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          Common Shares of Touchstone Exploration 
         financial instrument,       Inc. 
         type of instrument 
 
         Identification code         CA89156L1085 
       --------------------------  ---------------------------------------- 
 b)     Nature of the transaction   Exercise of 80,000 common share options 
       --------------------------  ---------------------------------------- 
                                         Effective Price   Volume 
   c)     Prices and volumes          1   C$0.23 (13.5p)    80,000 
                                         ----------------  ------- 
       --------------------------  ---------------------------------------- 
 d)     Aggregated information      Aggregated volume: exercise of 80,000 
          *    Aggregated volume     share options 
                                     Aggregated price: C$0.23 (13.5p) each 
                                     Aggregated total: C$18,400 (GBP10,800) 
          *    Price 
       --------------------------  ---------------------------------------- 
 e)     Date of the transaction     1 June 2021 
       --------------------------  ---------------------------------------- 
 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 or contact:

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer Tel: [phone]

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Advisor and Joint Broker)

   Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin   Tel: [phone] 

Corporate Broking: Jerry Keen

Canaccord Genuity (Joint Broker)

Adam James / Henry Fitzgerald O'Connor / Thomas Diehl Tel: [phone]

Camarco (Financial PR)

Nick Hennis / Billy Clegg Tel: [phone]

Advisory

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.71 to 1.00.

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June 02, 2021 11:46 ET (15:46 GMT)