SALE OF COMMON SHARES AND DIRECTOR / PDMR SHAREHOLDING
CALGARY, ALBERTA (June 28, 2024) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX, LSE: TXP) reports that the Company's Chief Financial Officer, Mr. Scott Budau, sold an aggregate 147,000 common shares of no par value in the Company ("Common Shares") from June 24, 2024 through June 27, 2024. The proceeds from the sale of Common Shares were to partially satisfy the costs and withholding taxes associated with the Mr. Budau's share option exercise announced on June 3, 2024.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail regarding the transactions noted above.
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.
Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487
Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Daniel Bush / Toby Gibbs / Tom Knibbs Tel: +44 (0) 207 408 4090
Canaccord Genuity (Joint Broker)
Adam James / Ana Ercegovic Tel: +44 (0) 207 523 8000
FTI Consulting (Financial PR)
Nick Hennis / Ben Brewerton Tel: +44 (0) 203 727 1000
Email: touchstone@fticonsulting.com
Advisory
For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.73 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 | 1. Scott Budau 2. Scott Budau 3. Scott Budau 4. Scott Budau | |||||||||||||||
| 2 | Reason for the notification | ||||||||||||||||
| a) | Position/status | 1. Chief Financial Officer 2. Chief Financial Officer 3. Chief Financial Officer 4. Chief Financial 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 17,000 Common Shares 2. Sale of 50,000 Common Shares 3. Sale of 25,000 Common Shares 4. Sale of 55,000 Common Shares | |||||||||||||||
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c) |
Prices and volumes |
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| d) | Aggregated information - Aggregated volume - Price | 1. Aggregated volume: 17,000 Common Shares Aggregated price: C$0.55 (c31.8p) each Aggregate total: C$9,350 (c£5,406) 2. Aggregated volume: 50,000 Common Shares Aggregated price: C$0.55 (c31.8p) each Aggregate total: C$27,500 (c£15,900) 3. Aggregated volume: 25,000 Common Shares Aggregated price: C$0.55 (c31.8p) each Aggregate total: C$13,750 (c£7,950) 4. Aggregated volume: 55,000 Common Shares Aggregated price: C$0.55 (c31.8p) each Aggregate total: C$30,250 (c£17,490) | |||||||||||||||
| e) | Date of the transaction | 1. June 24, 2024 2. June 25, 2024 3. June 26, 2024 4. June 27, 2024 | |||||||||||||||
| f) | Place of the transaction | 1. Toronto Stock Exchange 2. Toronto Stock Exchange 3. Toronto Stock Exchange 4. Toronto Stock Exchange | |||||||||||||||
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