Touchstone Exploration Inc.

Touchstone Exploration Inc.

February 03, 2011 18:06 ET

Touchstone Exploration Inc. Appoints President and Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - Feb. 3, 2011) - Touchstone Exploration Inc., (TSX VENTURE:TAB.U) ("Touchstone" or the "Company") announces the appointment of Ron Bryant to President and Chief Operation Officer and Gregory Marr, CA as Chief Financial Officer of the Company, subject to regulatory approval. Mr. Bryant has been a Director of the Company for the past year and has been instrumental in the operation and set-up of the Organization. Mr. Bryant is an engineer with over 25 years of industry experience. Mr. Marr has over 25 years of financial and tax expertise and extensive public company experience. He has served as Chief Financial Officer and Director of several private and public companies, particularly oil and gas companies that are or have been listed on the TSX Venture Exchange.

With the appointments the Company has granted incentive stock options to Mr. Marr to purchase 500,000 common shares at an exercise price of (US) $0.82 per share, representing the closing price of the Company's common shares on February 1, 2011 as reported on the TSX Venture Exchange. The options are for a term of five years and vest in three equal installments on the first, second and third anniversary from the date of grant. All securities related to the grant of stock options granted to insiders, as that term is defined under the TSX Venture Exchange policies, will be subject to a four-month hold period from the date of grant in accordance with such policies.

Trevor Mitzel, CA will remain as a Director and will become the Chairman of the Audit Committee and consultant to the Company.

The companies in which Touchstone Exploration Inc. directly and indirectly owns investments or assets are separate entities. In this news release "Touchstone" and "the Touchstone Group" are sometimes used for convenience where references are made to Touchstone Exploration Inc. and its subsidiaries in general.

Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Touchstone's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Touchstone generally uses words such as "outlook", "will", "could", "would", "might", "remains", "to be", "plans", "believes", "may", "expects", "intends", "anticipates", "estimate", "future", "plan", "positioned", "potential", "project", "remain", "scheduled", "set to", "subject to", "upcoming", and similar expressions to help identify forward-looking statements. Forward-looking information in this press release may include, but is not limited to, information with respect to exploration opportunities. The forward-looking statements in this press release are based upon information available to Touchstone as of the date of this press release. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Touchstone and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. For further information regarding specific risks and uncertainties applicable to Touchstone please see Touchstone's Filing Statement and the most recent management discussion and analysis may be viewed with other Touchstone disclosure documents through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at Touchstone does not undertake any obligation to publicly update forward-looking information except as required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Touchstone Exploration Inc.
    Mr. Paul Baay
    Chariman & Chief Executive Officer
    (403) 619-8407