Touchstone Exploration (LSE:TXP) has secured approximately US$10.9 million in gross proceeds through a multi-part equity fundraising priced at 7 pence per new share. The transaction represents roughly £8.1 million, or C$15.0 million, and is intended to strengthen the company’s financial position as it advances its operations in Trinidad and Tobago.
A significant portion of the fundraising, valued at around US$10.3 million, has been provided by the company’s largest shareholder, Purebond Limited. The investment was made through a combination of subscription shares and debt securities, highlighting substantial support from an existing strategic investor.
WRAP Offer remains open pending final allocations
The company noted that its WRAP retail offer is still open, with a further announcement expected once the process has concluded. That update will include details of final share allocations, including Purebond’s overall participation, as well as any resulting changes to the company’s voting rights structure.
The fundraising comprises several components, including the placing, subscription and Canadian LIFE Offering, all of which contribute to the capital raise and broaden investor participation.
New shares set for AIM and TSX admission
Shares issued under the fundraising are expected to be admitted to trading on AIM and listed on the Toronto Stock Exchange on or around 10 June 2026. The enlarged share capital is expected to improve market liquidity and increase the company’s financial flexibility.
The Canadian LIFE Offering is also designed to enhance access for investors by providing freely tradable shares, potentially supporting broader participation in the company’s equity story.
Insider support highlights confidence in the business
Purebond’s substantial commitment represents a notable endorsement from the company’s largest shareholder and forms the cornerstone of the fundraising. The backing provides Touchstone with additional capital while demonstrating continued support from a key investor as the company pursues its operational and development objectives.
The successful completion of the initial fundraising also positions the company to strengthen its balance sheet and maintain funding flexibility in a challenging commodity and capital markets environment.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary-headquartered oil and gas company engaged in the acquisition, exploration, development, production and sale of petroleum and natural gas assets. Its operations are focused primarily onshore in the Republic of Trinidad and Tobago. The company’s shares are listed on both the Toronto Stock Exchange and London’s AIM market under the ticker TXP.
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