Touchstone Exploration Inc. — Director's Dealing 2023

Sep 26, 2023

National Storage Mechanism | Additional information

RNS Number : 7318N

Touchstone Exploration Inc.

26 September 2023

DIRECTOR / PDMR SHAREHOLDING

CALGARY, ALBERTA (September 26, 2023) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) reports that non-executive director John D. Wright sold an aggregate 350,300 Company common shares of no par value ("Common Shares").

Mr. Wright sold 58,900 Common Shares at a weighted average price of C$1.06 (approximately 64.2 pence) per Common Share on September 22, 2023 and 291,400 Common Shares at a weighted average price of C$1.02 (approximately 61.8 pence) per Common Share on September 25, 2023.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the above transactions.

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 / Iain Sexton                                      Tel: +44 (0) 207 408 4090

Canaccord Genuity (Joint Broker) 

Adam James / Gordon Hamilton                                                  Tel: +44 (0) 207 523 8000

FTI Consulting (Financial PR)

Nick Hennis / Ben Brewerton                                                      Tel: +44 (0) 203 727 1000

Email: [email protected]

Advisory

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.65 to 1.00.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulation.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John D. Wright

2

Reason for the notification

a)

Position/status

Non-executive Director and Chair

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 58,900 Common Shares

2.   Sale of 291,400 Common Shares

c)

Prices and volumes

	Effective Prices	Volumes
1.	C$1.06 (c64.2p)	58,900
2.	C$1.02 (c61.8p)	291,400

d)

Aggregated information

-  Aggregated volume

-  Price

1.   Aggregated volume: 58,900 Common Shares

Aggregated price: C$1.06 (c64.2p) each

Aggregate total C$62,434 (c£37,814)

2.   Aggregated volume: 291,400 Common Shares

Aggregated price: C$1.02 (c61.8p) each

Aggregated total: C$297,228 (c£180,085)

e)

Date of the transaction

1.   September 22, 2023

2.   September 25, 2023

f)

Place of the transaction

1.   Toronto Stock Exchange

2.   Toronto Stock Exchange

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