Touchstone Exploration Inc. (LON:TXP) has announced that, further to the Company’s announcement dated June 4, 2026 regarding the Fundraise, the Company has initially raised aggregate gross proceeds (before expenses) of US$10.9 million (approximately £8.1 million and C$15.0 million) at the Issue Price of 7 pence per New Common Share (equivalent to approximately C$0.13 per New Common Share).
Of the aggregate gross proceeds raised to date, approximately US$10.3 million (approximately £7.7 million and C$14.3 million) is being subscribed for by the Company’s largest shareholder, Purebond Limited, by way of the aggregate of the First Tranche Subscription Shares and the Debt Securities (each as defined in the Fundraise Announcement, which also provides further details of the Subscription Agreement).
The WRAP Offer remains open for participation and a further announcement will be made upon its closing confirming, inter alia, the final aggregate number of New Common Shares to be issued, allocations to Purebond, and related party transaction disclosures.
Canaccord Genuity Limited acted as Nominated Adviser and Lead Bookrunner and Cavendish Capital Markets Limited acted as a Joint Bookrunner in connection with the Placing. Canaccord Genuity Corp. acted as Canadian Adviser in respect of the LIFE Offering.
Admission and Total Voting Rights
Application will be made to AIM for the First Tranche Subscription Shares, the Placing Shares, and the LIFE Offering Shares to be admitted to trading on AIM and the TSX to list the New Common Shares. First Admission is expected to occur on or around June 10, 2026.
The LIFE Offering Shares will be immediately freely tradable in Canada pursuant to the Listed Issuer Financing Exemption.
A further announcement will be made following the close of the WRAP Offer, which will include the total voting rights in the Company’s share capital at First Admission, pursuant to the admission of the First Tranche Subscription Shares, the Placing Shares, the LIFE Offering Shares and the WRAP Offer Shares.
Capitalised terms used in this announcement but not defined have the meanings given to them in the Fundraise Announcement.
