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Touchstone Announces Approval of Resolutions at Annual Meeting

Posted On June 19th
By : The Canadian Press
Comment: Off


Date issue: June 19, 2017
Time in: 5:38 PM e


CALGARY, ALBERTA--(Marketwired - June 19, 2017) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) announces that on June 19, 2017, it held its annual and special meeting of shareholders (the "Meeting"). During the business proceedings at the Meeting, Touchstone's shareholders approved the following resolutions:


1. Resolution to fix the number of directors of the Company to be elected

at the Meeting at six.

2. Shareholders approved the election of six nominees as directors of

Touchstone to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with the number and percentage of common shares represented at the Meeting voting by way of ballot in favour of and withheld from voting for each of the individual nominees as follows:
---------------------------------------------------------------------------- Name of Director Nominee Votes For Votes Withheld ---------------------------------------------------- Number Percent (%) Number Percent (%) ---------------------------------------------------------------------------- Paul R. Baay 10,733,573 97.62 261,286 2.38 Kenneth R. McKinnon 10,812,305 98.34 182,554 1.66 Thomas E. Valentine 10,714,998 97.45 279,861 2.55 Dr. Harrie Vredenburg 10,815,380 98.37 179,479 1.63 John D. Wright 10,582,255 96.25 412,604 3.75 Peter Nicol 10,994,859 100.00 nil 0.00 ----------------------------------------------------------------------------

3. Resolution to re-appoint Ernst & Young LLP, Professional Chartered

Accountants, as auditors of the Company for the ensuing year.

4. Resolution to reduce the stated capital of the common shares of the

Company by an aggregate amount of up to $150 million, with 98.00% of the common shares represented at the Meeting voting in favour of the resolution.

5. Resolution to amend By-Law No. 1 of the Company requiring each

shareholder with a holding of 3% or more in any class of shares in the Company to notify the Company without delay of any relevant changes to its shareholdings in the Company, with 96.40% of the common shares represented at the Meeting voting in favour of the resolution.

6. Resolution to amend the Company's stock option plan to remove the

provision which limits the number of outstanding options held by non- employee directors to 1% of the outstanding common shares of the Company, with 96.66% of the common shares represented at the Meeting voting in favour of the resolution.

7. Resolution to ratify certain stock options granted to non-employee

directors, with 96.76% of the common shares represented at the Meeting voting in favour of the resolution.


About Touchstone

Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights, and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange under the symbol "TXP".

- END RELEASE - 19/06/2017

For further information:
Touchstone Exploration Inc.
Mr. Paul Baay
President and Chief Executive Officer
Telephone: 403.750.4487
Touchstone Exploration Inc.
Mr. Scott Budau
Chief Financial Officer
Telephone: 403.750.4487


INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170619CC0096

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

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