Last checked at 29 Jun 2021 07:00
SALE OF COMMON SHARES
CALGARY, ALBERTA (June 29, 2021) - Touchstone Exploration Inc. ("Touchstone" or the "Company") reports that on June 28, 2021, the Company's executive officers sold an aggregate 242,000 Touchstone common shares of no par value ("Common Shares"). The sales of Common Shares were to satisfy the costs and withholding taxes associated with the executive officer share option exercises announced on June 24, 2021. Mr. Baay sold 104,000 Common Shares, and Mr. Budau and Mr. Shipka each sold 69,000 Common Shares at a weighted average price of C$1.36 (approximately 79.5 pence) per Common Share on the Toronto Stock Exchange.
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. Paul R. Baay 2. Scott Budau 3. James Shipka | ||||||||||||
2 | Reason for the notification | |||||||||||||
a) | Position/status | 1. President, Chief Executive Officer and Executive Director 2. Chief Financial Officer 3. Chief Operating 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
Identification code | Common Shares of Touchstone Exploration Inc.
CA89156L1085 | ||||||||||||
b) | Nature of the transaction | 1. Sale of 104,000 Common Shares 2. Sale of 69,000 Common Shares 3. Sale of 69,000 Common Shares | ||||||||||||
c) |
Prices and volumes |
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d) | Aggregated information - Aggregated volume - Price | 1. Aggregated volume: 104,000 Common Shares Aggregated price: C$1.36 (79.5p) each Aggregate total C$141,440 (£82,680) 2. Aggregated volume: 69,000 Common Shares Aggregated price: C$1.36 (79.5p) each Aggregated total: C$93,840 (£54,855) 3. Aggregated volume: 69,000 Common Shares Aggregated price: C$1.36 (79.5p) each Aggregated total: C$93,840 (£54,855) | ||||||||||||
e) | Date of the transaction | 1. 28 June 2021 2. 28 June 2021 3. 28 June 2021
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f) | Place of the transaction | 1. Toronto Stock Exchange 2. Toronto Stock Exchange 3. Toronto Stock Exchange | ||||||||||||
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: +1 (403) 750-4487
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin Tel: +44 (0) 207 408 4090
Corporate Broking: Jerry Keen
Canaccord Genuity (Joint Broker)
Adam James / Henry Fitzgerald O'Connor / Thomas Diehl Tel: +44 (0) 207 523 8000
Camarco (Financial PR)
Nick Hennis / Billy Clegg 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 1.71 to 1.00.