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RNS Number : 5672X

Touchstone Exploration Inc.

30 August 2022

GRANT OF SHARE OPTIONS

CALGARY, ALBERTA (August 30, 2022) - Touchstone Exploration Inc. ("Touchstone" or the "Company") announces the grant of share options on August 26, 2022 to Non-executive Directors Jenny Alfandary and Dr. Priya Marajh in accordance with the Company's shareholder approved stock option plan. Ms. Alfandary was awarded 120,000 share options and Dr. Marajh was awarded 115,000 share options in connection with their appointment to Touchstone's Board of Directors on July 11, 2022.

Each share option allows the holder to purchase one Company common share at an exercise price of C$1.55 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 August 25, 2022. 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 11,939,100 share options outstanding, representing approximately 5.6 percent of the Company's outstanding common shares.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the above transactions.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

 
       Details of the person discharging managerial responsibilities 
  1.    / person closely associated 
 a)    Name                         1. Jenny Alfandary 
                                     2. Priya Marajh 
      ---------------------------  ------------------------------------------------ 
       Reason for the notification 
  2. 
      ----------------------------------------------------------------------------- 
 a)    Position/status              1. Non-Executive Director 
                                     2. Non-Executive Director 
      ---------------------------  ------------------------------------------------ 
 b)    Initial notification         Initial notification 
        /Amendment 
      ---------------------------  ------------------------------------------------ 
       Details of the issuer, emission allowance market participant, 
  3.    auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------------- 
 a)    Name                         Touchstone Exploration Inc. 
      ---------------------------  ------------------------------------------------ 
 b)    LEI                          2138008URBSUC1J24J73 
      ---------------------------  ------------------------------------------------ 
       Details of the transaction(s): section to be repeated for 
  4.    (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$1.55 and an expiry date of 26 August 
                                     2027. 
        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               120,000 
                                           ----------------  -------- 
                                       2.   Nil               115,000 
                                           ----------------  -------- 
      ---------------------------  ------------------------------------------------ 
 d)    Aggregated information       Aggregate volumes 
        - Aggregated volume          1. 120,000 
                                     2. 115,000 
                                     Aggregate prices 
                                     1. Nil 
                                     2. Nil 
        - Price 
      ---------------------------  ------------------------------------------------ 
 e)    Date of the transaction      1. 26 August 2022 
                                     2. 26 August 2022 
      ---------------------------  ------------------------------------------------ 
 f)    Place of the transaction     1. Outside a trading venue 
                                     2. Outside a trading venue 
      ---------------------------  ------------------------------------------------ 
 

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)

Daniel Bush / Toby Gibbs /Iain Sexton Tel: +44 (0) 207 408 4090

Canaccord Genuity (Joint Broker)

Adam James / Gordon Hamilton Tel: +44 (0) 207 523 8000

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily Pettifar Tel: +44 (0) 203 781 8330

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END

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(END) Dow Jones Newswires

August 30, 2022 03:56 ET (07:56 GMT)

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