Touchstone Exploration Secures $12.5M Financing to Advance Cascadura Operations

Touchstone Exploration ( (TSE:TXP) ) has issued an update.

Touchstone Exploration Inc. has successfully closed a private placement of a secured convertible debenture and warrants with JJR Wood Holdings Inc. for US$12.5 million. This financing will enable the company to restart drilling operations at the Cascadura site and bring new production online, reflecting confidence in Touchstone’s strategic direction and asset quality. The proceeds will also help meet the company’s equity obligations under its loan agreement, although an additional US$7.3 million in equity must be raised by the end of 2025. The debenture, with a 5% interest rate and a three-year term, is convertible into common shares, and the issuance includes 6,250,000 warrants exercisable at C$0.40 per share.

More about Touchstone Exploration

Touchstone Exploration Inc. is a Calgary, Alberta-based company involved in acquiring interests in petroleum and natural gas rights, as well as the exploration, development, production, and sale of petroleum and natural gas. The company is active in onshore properties in Trinidad and Tobago, and its common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol ‘TXP’.

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