CALGARY, ALBERTA--(Marketwired - June 12, 2017) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) is pleased to announce that it will be putting forward Mr. Peter Nicol as an additional nominee for election to its board of directors at its upcoming annual shareholder meeting ("AGM") to be held on Monday, June 19, 2017. Touchstone President and Chief Executive Officer, Paul Baay, said, "We are pleased that this excellent candidate has agreed to stand for election to our board. Mr. Nicol's knowledge and experience with UK capital markets will be valuable in conjunction with our AIM Admission."
In addition to the five nominees described in the Company's Management Information Circular and Proxy Statement dated May 16, 2017, Mr. Nicol's background is as follows:
| Name, Province and Country of residence |
Office held and time as Director or Officer |
Number of Common Shares, owned, controlled or directed |
Principal occupation (during the preceding 5 years) |
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| Peter Nicol London, United Kingdom |
n/a | Nil | Independent businessman and advisor; Non-Executive Director (since 2005) and founding shareholder (1988) of Thorogood Associates (an international business intelligence and data analytics firm); Non-Executive Director, Chair of Audit Committee, Member of Remuneration Committee (since 2012) of Eco (Atlantic) Oil and Gas Ltd. (an oil and gas exploration and production company, dual-listed on London AIM and TSX Venture Exchange); Non-Executive Director (2014 to 2015) of Verus Petroleum UK Limited (a UK-focused oil and gas exploration and development company, formed through the public-to-private transaction of the listed company Bridge Energy ASA and backed by HitecVision); and Non-Executive Director and member of the Audit Committee (2013 to 2014) of Interoil Exploration and Production ASA (international independent petroleum company listed on the Oslo stock exchange). | |||
Management intends to rely on its discretionary authority granted in proxies currently being solicited in conjunction with the Company's Management Information Circular and Proxy Statement dated May 16, 2017 to vote in favour of the election of Mr. Nicol. Mr. Nicol's election will be conditional on the completion of the Company's admission to AIM, which is expected to occur by the end of June 2017. A ballot will be taken at the AGM in connection with the election of the directors of the Company and resolving to set the number of directors to be elected at six. The Company's Management Information Circular and Proxy Statement is available on SEDAR (www.sedar.com) and the Company's website (www.touchstoneexploration.com).
About Touchstone
Touchstone Exploration Inc. is a Calgary 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 under the symbol "TXP".
Forward-Looking Statements
Certain information provided in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking information in this press release may include, but is not limited to, the expectation that the Company will have its common shares admitted to trading on the AIM market of the London Stock Exchange by the end of June 2017. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's Annual Information Form dated March 21, 2017 which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
Contact Information:
President and Chief Executive Officer
403.750.4487
Mr. Scott Budau
Chief Financial Officer
403.750.4487
www.touchstoneexploration.com