Touchstone Exploration Inc. ("Touchstone" or the "Company") announces the grant of 3,758,000 share options on September 18, 2023 to its executive officers, non-executive directors and key employees in accordance with the Company's shareholder approved omnibus incentive compensation plan.
Each share option allows the holder to purchase one Company common share at an exercise price of C$1.15 per common share, which was measured by reference to the five-day volume weighted average price of the Company's common shares on the Toronto Stock Exchange to the close of trading on September 15, 2023. 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 15,217,101 share options outstanding, representing approximately 6.5 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.
