London Stock Exchange welcomes Touchstone Exploration Inc to AIM
London Stock Exchange today welcomed Touchstone Exploration Inc. (TSX: TXP), the Toronto Stock Exchange ("TSX") listed oil and gas exploration and production company active in the Republic of Trinidad and Tobago ("Trinidad"), to celebrate the listing of the Company’s public shares onto the AIM Market of the LSE.
The Company has successfully raised £1.45 million (approximately C$2.47 million) through a private placement at a price of 7.25 pence sterling (approximately C$12.33) per Common Share with new UK institutional investors. The gross proceeds of the Placing are expected to be used in drilling and development operations in 2017.
Touchstone Exploration Inc. is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that has a track record of delivering value to shareholders.
Paul Baay, President and Chief Executive Officer of Touchstone, commented:
"We are thrilled to be welcomed to the London Stock Exchange today in celebration of Touchstone Exploration Inc’s shares being listed on AIM. We firmly believe that a dual listing on the Toronto Stock Exchange (TSX) and on AIM will help accelerate our growth strategy as we gain access to the London capital markets.
"Today marks a very exciting time for our business and we are confident that we have the right team, expertise and strategy to grow the Company and deliver value to our shareholders."
The UK placing was led by the Company’s joint brokers Shore Capital Stockbrokers Limited (as lead broker) and GMP FirstEnergy (as joint broker) and Camarco as Financial PR.
Additional information is available on the Company’s website (www.touchstoneexploration.com)