Touchstone Exploration Inc.
TSX : TXP
AIM : TXP

Touchstone Exploration Inc.

June 26, 2017 02:01 ET

Touchstone Announces Admission to AIM and First Day of Dealings

CALGARY, ALBERTA--(Marketwired - June 26, 2017) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP)(AIM:TXP) announces the admission today of its common shares of no par value ("Common Shares") to trading on the AIM market ("AIM") of the London Stock Exchange ("Admission"). Dealings in the Common Shares will commence today at 8:00 a.m. (GMT) under the ticker "TXP".

In conjunction with the Admission, the Company has successfully raised £1.45 million (approximately C$2.45 million) before expenses by placing 20,000,000 new Common Shares (the "Private Placement") with new United Kingdom investors at a price of 7.25 pence sterling (approximately C$0.12) per Common Share. On Admission, the Company will have 103,137,143 Common Shares issued and outstanding. The Private Placement was led by the Company's joint brokers Shore Capital Stockbrokers Limited (as lead broker) and GMP FirstEnergy (as joint broker). Shore Capital and Corporate Limited acted as financial and nominated advisor to the Company in relation to the Admission.

All Common Shares being issued by the Company pursuant to the Private Placement will be freely transferable outside of Canada; however these shares are subject to a four-month restricted hold period in Canada (beginning today) which will prevent such common shares from being resold in Canada, through a Canadian exchange or otherwise, during the restricted period without an exemption from the Canadian prospectus requirement.

Commenting on today's announcement, Paul Baay, President and Chief Executive Officer of Touchstone, said, "We believe that a dual listing on AIM will provide support to help us achieve our ambitious developmental plans in Trinidad, and today marks a very exciting time for our business. We firmly believe the AIM listing will expedite our onshore developmental and exploration plans and provide long-term value creation to our shareholders."

Additional information is available in the Appendix to the AIM Schedule One Pre-Admission Announcement, which is available on the Company's website (www.touchstoneexploration.com).

About Touchstone

Touchstone Exploration Inc. is a Calgary 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".

Advisories

For reference purposes in this press release, one British pound has been translated into Canadian dollars at a rate of 1 to 1.69.

Forward-Looking Statements

Certain information provided in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's Annual Information Form dated March 21, 2017 which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

Contact Information

  • Mr. Paul Baay
    President and Chief Executive Officer
    (403) 750-4487

    Mr. Scott Budau
    Chief Financial Officer
    (403) 750-4487
    www.touchstoneexploration.com