APPOINTMENT OF INDEPENDENT DIRECTOR & SHARE OPTION
APPOINTMENT OF INDEPENDENT DIRECTOR AND GRANT OF SHARE OPTIONS
Calgary, Alberta - December 22, 2020 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) is pleased to announce the appointment of Ms. Beverley Smith to Touchstone's Board of Directors (the "Board") as of December 22, 2020. Ms. Smith will also serve on the Board's Compensation and Governance Committee and on the Health, Safety, Environment and Reserves Committee.
Ms. Smith is a chartered geologist and an accomplished business leader with over thirty years of experience in the oil and gas sector, having delivered a portfolio of achievements in a successful international career with BG Group, as Vice President Exploration and Growth for Europe and most recently as Interim Chief Executive Officer of Hurricane Energy plc. Ms. Smith has a background in development and production geology and subsurface management, notably in Trinidad (Hibiscus, Poinsettia and Ixora fields), Tunisia (Hasdrubal field) and various operated developments in the United Kingdom including Mercury, Neptune, Minerva, Apollo, Fleming, Drake and Jackdaw fields as well as other non-operated developments. Ms. Smith brings further corporate governance expertise to the Board with a proven track record of improving risk management capabilities, safety frameworks, and ensuring accountability and transparency. Ms. Smith is an independent non-executive director at Hurricane Energy plc and the President of The Petroleum Exploration Society of Great Britain. Ms. Smith holds a Bachelor of Science degree in geology and a Master of Science degree in petroleum geology.
John D. Wright, Chairman of the Board, commented, "We are delighted that Beverley has joined the Board. Her expertise in international oil and gas, specifically her background in Trinidad, will be instrumental as we continue to explore and develop the Ortoire block."
Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)
The following directorships and partnerships are currently held by Ms. Smith or have been held in the past five years:
Current Directorships
Bas Advisory Limited
Hurricane Energy plc
The Kimmeridge Trust
The Petroleum Exploration Society of Great Britain
Petroleum Geology Conferences Limited
Previous Directorships
Hurricane (Strathmore) Limited
Hurricane (Whirlwind) Limited
Hurricane Basement Limited
Hurricane Gla Limited
Hurricane Group Limited
Hurricane Gwa Limited
Hurricane Holdings Limited
Hurricane Petroleum Limited
Input Patient Advocacy
POWERful Women
Aside from the information set out above, there are no further disclosures to be made in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of Beverley Ann Smith, aged 55. Ms. Smith does not currently hold an interest in the Company's share capital.
The Company granted Ms. Smith 115,000 share options on December 22, 2020 in accordance with the Company's shareholder approved stock option plan. The share options were issued with an exercise price of C$2.07 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 December 21, 2020. The share options have a five-year term and vest one third on each of the next three anniversaries of the grant date.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail regarding the share option award.
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.
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Beverley Smith |
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2. |
Reason for the notification |
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a) |
Position/status |
Non-Executive Director |
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b) |
Initial notification /Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Touchstone Exploration Inc. |
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b) |
LEI |
2138008URBSUC1J24J73 |
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4.
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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 |
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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$2.07 and an expiry date of 21 December 2025.
CA89156L1085 |
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b) |
Nature of the transactions |
Grant of share options to Non-Executive Director |
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c)
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Prices and volumes |
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d) |
Aggregated information - Aggregated volume - Price |
Aggregate volumes 115,000 Aggregate prices Nil |
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e) |
Date of the transaction |
22 December 2020 |
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f) |
Place of the transaction |
Outside a trading venue |
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