Touchstone Exploration's Update on Private Placement

Touchstone Exploration Inc., based in Calgary, has provided an update on its private placement initially announced on June 16, 2025. The company has £10.325 million outstanding from the £15.375 million gross proceeds expected. The delay in fund settlement, reported by OAK Securities and Portillion Capital, is attributed to unforeseen circumstances. Assurances state that these funds should arrive by June 27, 2025.

The Toronto Stock Exchange extended the conditional approval deadline for the private placement to the same date. On May 16, 2025, Touchstone issued 75 million new common shares, of which 24.6 million have been distributed. The remaining shares are pending fund receipt.

Operationally, Touchstone completed an intermediate casing at the Cascadura-5 well, reaching 5,800 feet, and will proceed to the primary target zone.