Source - SMW
Touchstone Exploration said it planned to conduct a private placement directed towards UK institutional investors to raise £3.8m.

New shares in the company would be issued at 12p each, representing a 4% discount to their closing price on Monday.

The funds would be used to finance the drilling of an exploration well in the Corosan west region of the Ortoire exploration property in Trinidad & Tobago.

At 8:12am: (LON:TXP) Touchstone Exploration Inc share price was 0p at 12.5p