Touchstone Exploration raises US$30 million in private placement

03 November 2020


On November 3, 2020, Touchstone Exploration Inc. (TSX / LSE: TXP) announced that further to the company's announcement on November 2, 2020 regarding a proposed private placing, Touchstone had placed 24,291,866 new common shares of no par value with institutional and other investors in the United Kingdom and Canada raising gross proceeds of approximately US$30 million (approximately £23.1 million and C$39.8 million).

Canaccord Genuity Limited acted as Sole Bookrunner in connection with the placing of Placing Shares with investors in Canada.

Touchstone 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. The company is currently active in onshore properties located in the Republic of Trinidad and Tobago.

Stuart Olley of Gowling WLG advised Canaccord Genuity on Canadian aspects of the private placement.

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