14 Dec 2012 07:00
Grant of Options
Toronto, December 14, 2012 - Touchstone Gold Limited ("Touchstone" or the "Company") (AIM: TGL) (TSX:TCH) announces that it has granted share options to directors for the issue of up to 7,400,000 new common shares of no par value ("Common Shares") representing 3.68 per cent of the total common shares in issue (the "Options"). Immediately preceding this grant of Options, no share options existed for directors.
The Options have an exercise price of 11 pence per Common Share and shall lapse ten years from the grant date. Half of the Options vest immediately and the remaining half shall vest one year from the grant date.
The following Directors have been granted Options under the Company's share option plan:
Options Granted | Total Options Holding Post Grant | % of Common Shares in Issue | |
David Wiley | 4,000,000 | 4,000,000 | 1.99% |
Ilyas Khan | 1,000,000 | 1,000,000 | 0.50% |
Robert Buchan | 800,000 | 800,000 | 0.40% |
Fraser Buchan | 800,000 | 800,000 | 0.40% |
The Earl of Clanwilliam | 800,000 | 800,000 | 0.40% |
Paul Cowley | 800,000 | 800,000 | 0.40% |
Following this grant of Options, the total number of options outstanding over Common Shares is 16,066,840, which represents 7.98% of Touchstone's current issued share capital.
For further information please contact:
Touchstone Gold | |
David Wiley Chief Executive Officer | Tel. +1 647 260 1247 |
Canaccord Genuity Limited (Joint Broker and Nominated Adviser) | |
Andrew Chubb Adam Miller | Tel. +44 20 7523 8350 |
Northland Capital Partners Limited (Joint Corporate Broker) | |
Gavin Burnell Edward Hutton John-Henry Wicks | Tel. +44 20 7796 8800
|
College Group | |
David Simonson Anca Spiridon | Tel. +44 20 7457 2020
|
About Touchstone
Touchstone is a gold exploration company and its primary assets, which collectively comprise its Segovia Gold Project, are the Rio Pescado, El Cinco, San Miguel, and Frontino Norte properties along the Segovia-Remedios Gold Belt in Colombia. Rio Pescado is comprised of four mining concessions, the El Cinco property is comprised of one mining concession, the San Miguel property is comprised of one mining concession and one proposed mining concession, and the Frontino Norte property is comprised of five mining concessions. Touchstone owns further options on the Santa Rosa Project, in the South Bolivar area of Colombia, comprised of four proposed mining concessions and one mining concession. With a philosophy of creating value by the systematic exploration and development of Touchstone's existing assets as well as the acquisition of suitable exploration and development mineral projects, Touchstone's long-term intention is to build a significant gold exploration and production company.