Purebond subscribes for most of $10.9m raised by Touchstone.

Touchstone Exploration said on Friday that it had raised initial gross proceeds of $10.9m from a fundraise announced on Thursday, with its largest shareholder Purebond Limited subscribing for the bulk of the proceeds.

Touchstone Exploration Inc NPV (DI)
05 June 2026 11:46:17

Source: Sharecast

The AIM-traded Trinidad and Tobago-focused oil and gas company said the amount raised to date was equivalent to about £8.1m, or CAD 15.0m, at an issue price of 7p per new common share, equivalent to around CAD 0.13.

Touchstone said around $10.3m of the initial proceeds, equivalent to £7.7m or CAD 14.3m, was being subscribed for by Purebond through the first tranche subscription shares and debt securities.

The company said its WRAP retail offer remained open, with a further announcement to be made after closing to confirm the final number of new common shares to be issued, Purebond’s allocation and related-party transaction disclosures.

Application would be made for the first tranche subscription shares, placing shares and LIFE offering shares to be admitted to trading on AIM, while the new common shares will also be listed on the Toronto Stock Exchange.

First admission was expected on or around 10 June.

The LIFE offering shares would be immediately freely tradable in Canada under the listed issuer financing exemption.

At 1114 BST, shares in Touchstone Exploration were flat at 7p.

Reporting by Josh White for Sharecast.com.

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