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RNS Number : 9334T Touchstone Exploration Inc. 23 March 2023
AIM Rule 17 Schedule 2(g) Update
CALGARY, ALBERTA (March 23, 2023) - Touchstone Exploration Inc. ("Touchstone")
(TSX, LSE: TXP) provides the following information under Rule 17 and Schedule
Two Paragraph (g) of the AIM Rules for Companies.
On November 30, 2017, Mr. John D. Wright, Chairman of Touchstone, became a
director of OAN Resources Ltd. ("OAN"), a private company registered in
Canada. On June 14, 2019, the management of OAN filed a Notice of Intention
("NOI") to Make a Proposal under subsection 50.4(1) of the Bankruptcy and
Insolvency Act to restructure OAN's affairs. At the time of the NOI, OAN was
estimated to have a creditor deficiency of approximately C$5.1 million. Mr.
Wright resigned his director position on October 10, 2019. OAN was unable to
file a proposal within the provided period and was deemed to have made an
assignment into bankruptcy on October 16, 2019. OAN's assets were subsequently
sold by the trustee of the bankrupt estate.
For further information about Touchstone, please visit our website at
www.touchstoneexploration.com (http://www.touchstoneexploration.com/) or
contact:
Touchstone Exploration Inc. Tel: +1 (403) 750-4487
Mr. Paul Baay, President and Chief Executive Officer
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker) Tel: +44 (0) 207 408 4090
Daniel Bush / Toby Gibbs / Iain Sexton
Canaccord Genuity (Joint Broker) Tel: +44 (0) 207 523 8000
Adam James / Gordon Hamilton
FTI Consulting (Financial PR) Tel: +44 (0) 203 727 1000
Nick Hennis / Ben Brewerton Email: touchstone@fticonsulting.com (mailto:touchstone@fticonsulting.com)
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".
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