CALGARY, AB, June 16, 2020 /CNW/ - Touchstone Exploration Inc.
("Touchstone" or the "Company") (TSX: TXP) (LSE: TXP)
announces that on June 15, 2020 the
conditions precedent were satisfied in respect of its previously
announced US$20 million, seven-year
term loan agreement (the "Term Loan") with Republic Bank Limited.
Touchstone withdrew US$15 million to
satisfy obligations relating to prepaying the Company's former
C$20 million credit facility.
Pursuant to the Term Loan, Touchstone has the option to withdraw
the remaining US$5 million available
balance prior to June 15, 2021.
Touchstone Exploration Inc.
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 and the AIM market of the London Stock
Exchange under the symbol "TXP".
Advisories
Forward-Looking Statements
Certain information provided in this news release may constitute
forward-looking statements within the meaning of applicable
securities laws. Although the Company believes that the
expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. Certain of these
risks are set out in more detail in the Company's 2019 Annual
Information Form dated March 25, 2020
which has been filed on SEDAR and can be accessed at www.sedar.com.
The forward-looking statements contained in this news release are
made as of the date hereof, and except as may be required by
applicable securities laws, the Company assumes no obligation to
update publicly or revise any forward-looking statements made
herein or otherwise, whether as a result of new information, future
events or otherwise.
SOURCE Touchstone Exploration Inc.