GRANT OF SHARE OPTIONS
Calgary, Alberta - April 8, 2019 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) announces the grant of 2,550,000 share options on April 5, 2019 to its executive officers, non-executive directors and key employees in accordance with the Company's shareholder approved stock option plan. The 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 | 132,500 |
| Peter Nicol, Non-Executive Director | 132,500 |
| Stanley T. Smith, Non-Executive Director | 127,500 |
| Thomas E. Valentine, Non-Executive Director | 135,000 |
| Dr. Harrie Vredenburg, Non-Executive Director | 115,000 |
| John D. Wright, Non-Executive Director | 137,500 |
| Employees | 720,000 |
| | |
| Total | 2,550,000 |
The share options were issued with an exercise price of C$0.23 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 April 4, 2019. 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 11,099,640 share options and incentive share options outstanding, representing approximately 6.9% 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.
For Further Information:
Touchstone Exploration Inc.
Mr. Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487
Mr. James Shipka, Chief Operating Officer
www.touchstoneexploration.com
Shore Capital (Nominated Advisor and Joint Broker)
Nominated Advisor: Edward Mansfield / Mark Percy / Daniel Bush Tel: +44 (0) 207 408 4090
Corporate Broking: Jerry Keen
GMP FirstEnergy (Joint Broker)
Jonathan Wright / Hugh Sanderson Tel: +44 (0) 207 448 0200
Camarco (Financial PR)
Nick Hennis / Jane Glover / Billy Clegg Tel: +44 (0) 203 757 4980
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".
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them
| 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. Stanley T. Smith 7. Thomas E. Valentine 8. Dr. Harrie Vredenburg 9. 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 | ||||||||||||||||||||||||||||||
| 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 | Options over common shares of no par value in the capital of Touchstone Exploration Inc., each with an exercise price of C$0.23 and an expiry date of 4 April 2024.
CA89156L1085 | ||||||||||||||||||||||||||||||
| b) | Nature of the transactions | Grant of share options to executive directors/officers | ||||||||||||||||||||||||||||||
| c)
| Price(s) and volume(s) |
| ||||||||||||||||||||||||||||||
| d) | Aggregated information - Aggregated volume
- Price | Aggregate volumes 1. 450,000 2. 300,000 3. 300,000 4. 132,500 5. 132,500 6. 127,500 7. 135,000 8. 115,000 9. 137,500
Aggregate prices 1. Nil 2. Nil 3. Nil 4. Nil 5. Nil 6. Nil 7. Nil 8. Nil 9. Nil | ||||||||||||||||||||||||||||||
| e) | Date of the transaction | 5 April 2019 | ||||||||||||||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||||||||||||||||||||
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
