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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Touchstone Exploration Inc    TXP   CA89156L1085

TOUCHSTONE EXPLORATION INC

(TXP)
  Report  
Delayed Quote. Delayed Toronto Stock Exchange - 04/18 03:59:02 pm
0.305 CAD   +3.39%
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Touchstone Exploration : Announces Term Credit Facility Extension

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04/02/2019 | 10:37am EDT

Touchstone Exploration Inc. (Touchstone or the Company) (TSX / LSE: TXP) announces a one-year extension of its term credit facility maturity date and principal payments. The Company amended its C$15 million credit agreement (the Amended Term Credit Facility) with its lender to mature on November 23, 2023, with no mandatory principal payments until January 1, 2021. Touchstone is required to repay C$810,000 per quarter commencing on January 1, 2021 through October 1, 2023, and the then outstanding principal balance is repayable on the maturity date. As consideration for the Amended Term Credit Facility, the Company paid the lender a financing fee of C$150,000.

The terms of the Amended Term Credit Facility are materially unchanged from the term credit facility established in November 2016 and amended in June 2018. The Amended Term Credit Facility continues to bear a fixed interest rate of 8% per annum, compounded and payable quarterly. In connection with the Amended Term Credit Facility, the Company extended its Production Payment Agreement with the lender by one year. The Company`s amended production obligations equal 1% of petroleum sales, payable quarterly through October 31, 2023. Touchstone continues to have the ability to prepay the credit facility principal balance and has the option to negotiate a buyout of future production obligations with the lender if the credit facility principal balance is prepaid in full.

(c) 2019 The New Times Publications S.A.R.L All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CAD)
Sales 2019 62,6 M
EBIT 2019 12,5 M
Net income 2019 2,16 M
Debt 2019 22,3 M
Yield 2019 -
P/E ratio 2019 15,25
P/E ratio 2020
EV / Sales 2019 1,14x
EV / Sales 2020 0
Capitalization 49,0 M
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Mean consensus BUY
Number of Analysts 2
Average target price 0,47  CAD
Spread / Average Target 53%
Managers
NameTitle
Paul Raymond Baay President, Chief Executive Officer & Director
John David Wright Chairman
James Shipka Chief Operating Officer
Scott Budau Chief Financial Officer
Kenneth R. McKinnon Independent Director
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