Touchstone Exploration Inc.

Touchstone Exploration Inc.

July 05, 2017 02:01 ET

Touchstone Announces Merging of Stock Lines

CALGARY, ALBERTA--(Marketwired - July 5, 2017) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP)(AIM:TXP) announces the upcoming merger of its two Common Share trading lines.

On 26 June 2017, Touchstone was admitted to trading on the AIM market of the London Stock Exchange ("Admission") and pursuant to a private placement, issued 20,000,000 new Common Shares ("Placing Shares"). Upon Admission, the following Common Shares were admitted to trading on AIM:

  • 83,137,143 existing Common Shares, under the ticker TXP (ISIN: CA89156L1085, SEDOL: BD8ZCD4); and
  • 20,000,000 Placing Shares, under the ticker TXPR (ISIN: CA89156L2075, SEDOL: BD8ZCF6).

With effect from commencement of trading on July 11, 2017, the Placing Shares will merge with the existing Common Shares and will trade under the Company's existing ticker TXP under the ISIN: CA89156L1085 and SEDOL: BD8ZCD4. ISIN: CA89156L2075 shall be removed from trading at close of business on July 10, 2017.

The Placing Shares issued rank pari passu in all respects with the existing Common Shares save that there is a temporary restriction on the transfer of such Placing Shares into Canada for a period of four months and one day from the day on which the Placing Shares were issued (the "Initial Restricted Period"). The Initial Restriction Period will lapse on October 27, 2017 following which all the Company's Common Shares will be freely transferable on the Toronto Stock Exchange ("TSX"). Due to the nature of the securities issued into CREST and following the merging of the Placing Shares with the Common Shares, existing Depositary Interests ("DI") under ISIN CA89156L1085 and any Common Shares repositioned from Canada to the UK that enter the new DI will be subject to the Initial Restricted Period. Moreover, these will also be restricted from being repositioned back to being freely transferable in Canada for the remainder of the Initial Restricted Period. Consequently, any Common Shares purchased through the AIM market may not be sold through the TSX until the expiry of the Initial Restricted Period.

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".

Contact Information

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

    Mr. Scott Budau
    Chief Financial Officer
    Tel: (403) 750-4487