Touchstone Exploration Raises $11 Million from Equity, Debt Fundraise
Touchstone Exploration (TXP.L) said Monday it raised $10.9 million from a subscription, placing, retail offer and issuance of unsecured non-convertible debt securities.The fundraise involved a conditional placing of 26,631,330 new shares at 0.07 pound sterling, of which $1.9 million was raised through Purebond's subscription.An additional $8.4 million of unsecured non-convertible debt securities were issued to Purebond, while $600,000 was raised from investors participating in the placing, LIFE offering and WRAP retail offer.The debt securities are subject to shareholder approval and may be repaid and applied towards a future subscription for common shares, subject to regulatory and shareholder approvals.The new shares will be admitted to trading on AIM and listed on the TSX in Toronto, Canada, with admission expected on or around June 10.
