Touchstone Exploration Inc. reports that its executive officers and Chair of the Board of Directors exercised share options representing an aggregate 749,166 common shares of no par value in the Company ("Common Shares") on September 20, 2023.
President and Chief Executive Officer Paul R. Baay exercised share options representing 300,000 Common Shares, Chief Financial Officer Scott Budau exercised share options representing 200,000 Common Shares and Chief Operating Officer James Shipka exercised share options representing 200,000 Common Shares, all at a price of C$0.22 (approximately 13.3 pence) per Common Share. The share options exercised by our executive officers were issued in 2018 in accordance with the Company's shareholder approved stock option plan and were set to expire on September 23, 2023.
Additionally, non-executive director John Wright exercised share options representing 49,166 Common Shares at a price of C$0.48 (approximately 28.9 pence) per Common Share that were previously granted in 2020.
Application has been made for the 749,166 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ("Admission"), which is expected on September 27, 2023. Immediately following Admission, the Company's issued share capital will consist of 234,212,726 Common Shares. The Company does not hold any Common Shares in treasury. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail on the above transactions.
