CALGARY, AB / ACCESS Newswire / April 9, 2025 / Touchstone Exploration Inc. ("Touchstone", "we", "our" or the "Company") (TSX:TXP)(LSE:TXP) announces that Mr. John D. Wright has retired as a member and Chair of the Board of Directors, effective immediately.
We extend our sincere gratitude to Mr. Wright for his invaluable contributions and dedicated service. His leadership and strategic insight have been instrumental in guiding Touchstone through key phases of our growth and development.
Touchstone is pleased to announce the appointment of Mr. Kenneth R. McKinnon, K.C., ICD.D, as Chair of the Board of Directors. A member of our Board of Directors (the "Board") since 2012, Mr. McKinnon brings extensive experience in corporate governance, financial oversight, and strategic advisory roles. His service on numerous public company boards and committees has provided him with the insight and leadership required to guide Touchstone through our continued growth. With a strong commitment to governance excellence and an independent perspective, Mr. McKinnon is well-positioned to support the Company's long-term growth strategy.
Additionally, following a comprehensive review of the Company's governance in light of our operations, geographic footprint, strategic direction, and scale, we intend to reduce the size of our Board to six members at the upcoming Annual Meeting of Shareholders on June 18, 2025 (the "2025 Meeting"). This strategic decision aims to streamline decision-making, enhance Board efficiency, and support a more agile governance framework aligned with the Company's long-term goals. As part of this process, Touchstone is conducting a thorough evaluation of the skills and expertise required to support our future Board governance and committee needs. The Company intends to nominate six current members of the Board for re-election at the 2025 Meeting.
Paul Baay, President and Chief Executive Officer, commented:
"On behalf of Touchstone, I extend our sincere gratitude to John for his leadership and unwavering dedication as Chair of the Board since 2012. With a career in executive leadership across the energy sector, John's strategic vision and industry insight have been instrumental in driving Touchstone's growth. His contributions to the Company and to the broader industry through both his leadership and philanthropy continue to leave a meaningful and lasting legacy.
I am also pleased to welcome Mr. Ken McKinnon as the new Chair of our Board. Ken brings extensive experience, proven strategic leadership, and deep industry knowledge that will be invaluable as we advance our growth strategy. I look forward to working closely with him as we begin this next chapter in Touchstone's evolution."
Ken McKinnon, Chair of the Board, commented:
"I would like to thank John for his outstanding service and exemplary leadership. His guidance has been pivotal in navigating the Company through key phases of development, and his dedication and expertise have left a lasting impact on both the Board and the organization. We are deeply grateful for his many contributions.
It is an honour to assume the role of Chair of the Board, and I am appreciated of the trust and confidence placed in me. I look forward to supporting the Company's continued progress and long-term success."
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta 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". For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
Mr. Paul Baay, President and Chief Executive Officer
Mr. Scott Budau, Chief Financial Officer
Tel: +1 (403) 750-4405
Advisory Regarding Forward-Looking Information
The information provided in this news release may contain certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expect", "plan", "anticipate", "believe", "intend", "maintain", "continue to", "pursue", "design", "result in", "sustain" "estimate", "potential", "growth", "near-term", "long-term", "forecast", "contingent" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. The forward-looking statements contained in this news release speak only as of the date hereof and are expressly qualified by this cautionary statement. The Company's actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Touchstone will derive from them.
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 2024 Annual Information Form dated March 19, 2025 which is available under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.touchstoneexploration.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 or intent 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.
