Touchstone Exploration Inc. — Director's Dealing 2022

Apr 1, 2022

National Storage Mechanism | Additional information

RNS Number : 0447H

Touchstone Exploration Inc.

01 April 2022

EXERCISE OF SHARE OPTIONS

CALGARY, ALBERTA (April 1, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) announces that on March 31, 2022, non-executive director Stanley Smith exercised share options representing a total of 185,000 common shares of no par value in the Company ("Common Shares") at a weighted average price of C$0.23 (approximately 14 pence) per Common Share. The share options were previously granted in 2017 and 2018 in accordance with the Company's Share Option Plan.

Application has been made for the 185,000 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"), which is expected on April 7, 2022. Immediately following Admission, the Company's issued share capital will consist of 211,163,527 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.

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

Stanley Smith

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

Exercise of 185,000 common share options

c)

Price(s) and volume(s)

	Effective Price	Volume
1.	C$0.21 (12.8p)	92,500
2.	C$0.25 (15.2p)	92,500

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: exercise of 185,000 share options

Aggregated price: C$0.23 (14p) each

Aggregated total: C$42,550 (£25,945)

e)

Date of the transaction

31 March 2022

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: +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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