Touchstone Exploration Inc. (LSE:TXP) announced the successful completion of its Retail Offer, issuing 6,181,818 new common shares at 11 pence per share, raising approximately £0.68 million. When combined with proceeds from the company’s previous private placement, total gross funds raised amount to £7.0 million.
The additional capital is expected to strengthen Touchstone’s balance sheet and support ongoing exploration and production initiatives in Trinidad and Tobago. Management noted that the fundraise enhances the company’s financial flexibility and ability to advance key operational priorities, including drilling programs and infrastructure expansion.
The company said the successful completion of both the private placement and retail offering reflects continued investor confidence in Touchstone’s long-term growth strategy and its commitment to disciplined capital management.
More about Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta-based energy company focused on the acquisition, exploration, development, and production of petroleum and natural gas assets. Operating primarily onshore in the Republic of Trinidad and Tobago, the company is listed on both the Toronto Stock Exchange (TSX) and the AIM market of the London Stock Exchange under the ticker TXP. Touchstone’s strategy centers on expanding its production base through high-impact exploration projects and sustainable resource development.
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