Touchstone Exploration Inc. — Director's Dealing 2023

Oct 26, 2023

National Storage Mechanism | Additional information

RNS Number : 3231R

Touchstone Exploration Inc.

26 October 2023

DIRECTOR / PDMR SHAREHOLDING

CALGARY, ALBERTA (October 26, 2023) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) reports that the Company's officers sold an aggregate 327,000 Company common shares of no par value ("Common Shares") on October 25, 2023. The proceeds from the sale of Common Shares were to satisfy the costs and withholding taxes associated with the Company's officer share option exercises announced on September 21, 2023.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail regarding the 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]

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

1.   Paul R. Baay

2.   Scott Budau

3.   James Shipka

2

Reason for the notification

a)

Position/status

1.   Director, President and Chief Executive Officer

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 131,000 Common Shares

2.   Sale of 86,000 Common Shares

3.   Sale of 110,000 Common Shares

c)

Prices and volumes

	Effective Prices	Volumes
1.	54p	131,000
2.	54p	86,000
3.	54p	110,000

d)

Aggregated information

-  Aggregated volume

-  Price

1.   Aggregated volume: 131,000 Common Shares

Aggregated price: 54p each

Aggregate total £70,740

2.   Aggregated volume: 86,000 Common Shares

Aggregated price: 54p each

Aggregated total: £46,440

3.   Aggregated volume: 110,000 Common Shares

Aggregated price: 54p each

Aggregated total: £59,400

e)

Date of the transaction

1.   October 25, 2023

2.   October 25, 2023

3.   October 25, 2023

f)

Place of the transaction

1.   AIM

2.   AIM

3.   AIM

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