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RNS Number : 7068Z
Touchstone Exploration Inc.
25 May 2021
GRANT OF ANNUAL SHARE OPTIONS
CALGARY, ALBERTA (May 25, 2021) - Touchstone Exploration Inc.
("Touchstone" or the "Company") announces the grant of 2,713,000
share options on May 25, 2021 to its executive officers,
non-executive directors and key employees in accordance with the
Company's shareholder approved stock option plan. The annual grant
was awarded to the following recipients:
Recipient Number of share
options granted
----------------------------------------------- -----------------
Paul R. Baay, President, Chief Executive
Officer and Director 450,000
Scott Budau, Chief Financial Officer 300,000
James Shipka, Chief Operating Officer 300,000
Kenneth R. McKinnon, Non-Executive Director 142,500
Peter Nicol, Non-Executive Director 132,500
Beverley Smith, Non-Executive Director 15,000
Stanley T. Smith, Non-Executive Director 137,500
Thomas E. Valentine, Non-Executive Director 142,500
Dr. Harrie Vredenburg, Non-Executive Director 117,500
John D. Wright, Non-Executive Director 147,500
Employees 828,000
----------------------------------------------- -----------------
Total 2,713,000
----------------------------------------------- -----------------
The share options were issued with an exercise price of C$1.73
per common share, which was measured by reference to the five-day
weighted average trading price of the Company's common shares on
the Toronto Stock Exchange to the close of trading on May 21, 2021.
The share options have a five-year term and vest one third on each
of the next three anniversaries of the grant date.
Following this grant, the Company has a total of 12,030,434
share options outstanding, representing 5.7 percent of the
Company's outstanding common shares.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail on the
above 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)
Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin Tel: +44 (0) 207 408 4090
Corporate Broking: Jerry Keen
Canaccord Genuity (Joint Broker)
Adam James / Henry Fitzgerald O'Connor / Thomas Diehl Tel: +44
(0) 207 523 8000
Camarco (Financial PR)
Nick Hennis / Billy Clegg Tel: +44 (0) 203 781 8330
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Paul R. Baay
2. Scott Budau
3. James Shipka
4. Kenneth R. McKinnon
5. Peter Nicol
6. Beverley Smith
7. Stanley T. Smith
8. Thomas E. Valentine
9. Dr. Harrie Vredenburg
10. John D. Wright
--------------------------- ------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Chief Operating Officer
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
10. Non-Executive Director
--------------------------- ------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ------------------------------------------------
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 Options over common shares of no par
financial instrument, value in the capital of Touchstone Exploration
type of instrument Inc., each with an exercise price of
C$1.73 and an expiry date of 25 May
2026.
Identification code
CA89156L1085
--------------------------- ------------------------------------------------
b) Nature of the transactions Grant of share options to executive
directors/officers
--------------------------- ------------------------------------------------
c) Prices and volumes Effective price Volumes
1. Nil 450,000
---------------- --------
2. Nil 300,000
---------------- --------
3. Nil 300,000
---------------- --------
4. Nil 142,500
---------------- --------
5. Nil 132,500
---------------- --------
6. Nil 15,000
---------------- --------
7. Nil 137,500
---------------- --------
8. Nil 142,500
---------------- --------
9. Nil 117,500
---------------- --------
10. Nil 147,500
---------------- --------
--------------------------- ------------------------------------------------
d) Aggregated information Aggregate volumes
- Aggregated volume 1. 450,000
2. 300,000
3. 300,000
4. 142,500
5. 132,500
6. 15,000
7. 137,500
8. 142,500
9. 117,500
10. 147,500
Aggregate prices
1. Nil
2. Nil
3. Nil
4. Nil
- Price 5. Nil
6. Nil
7. Nil
8. Nil
9. Nil
10. Nil
--------------------------- ------------------------------------------------
e) Date of the transaction 25 May 2021
--------------------------- ------------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ------------------------------------------------
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END
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