EXERCISE OF SHARE OPTIONS AND SALE OF COMMON SHARES
CALGARY, ALBERTA (April 1, 2020) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces that on March 31, 2020, certain employees and directors exercised share options representing a total of 286,300 common shares of no par value in the Company ("Common Shares").
As part of this exercise of options, Non-Executive Director Thomas Valentine exercised share options representing 75,000 Common Shares at a price of C$0.33 per Common Share (approximately 18.9 pence per share). The share options were previously granted in 2015 in accordance with the Company's Share Option Plan. On March 31, 2020, Mr. Valentine sold 60,000 common shares at a price of C$0.46 per share (approximately 26.3 pence per share) on the Toronto Stock Exchange.
Application has been made for the 286,300 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 April 3, 2020. Immediately following Admission, the Company's issued share capital will consist of 183,489,395 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 |
Thomas E. Valentine |
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 Identification code |
Common Shares of no par value CA89156L1085 |
b) |
Nature of the transaction |
1. Exercise of 75,000 share options 2. Sale of 60,000 common shares |
c) |
Prices and volumes |
|
Prices |
Volumes |
1 |
18.9p each |
75,000 |
2 |
26.3p each |
60,000 |
|
d) |
Aggregated information - Aggregated volume - Price |
1. Aggregated volume: 75,000 share options exercised Aggregated price: 18.9p each Aggregated total: £14,175 2. Aggregated volume: 60,000 common shares Aggregated price: 26.3p each Aggregated total: £15,780 |
e) |
Date of the transaction |
1. 31 March 2020 2. 31 March 2020 |
f) |
Place of the transaction |
1. Off market transaction 2. Toronto Stock Exchange |
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary 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: +1 (403) 750-4487
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Adviser and Broker)
Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin Tel: +44 (0) 207 408 4090
Corporate Broking: Jerry Keen
Camarco (Financial PR)
Nick Hennis / Bill Clegg Tel: +44 (0) 203 781 8330
Advisories
For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.00 to 1.75.
