03:53 PM EST - Touchstone Resources Ltd. : announced that it has entered into a non-binding agreement in principle to acquire all of the issued and outstanding shares and shareholder debt of Sandy Cove Energy Ltd., a private Alberta company. The consideration for the Acquisition is $4.5 million to be satisfied by the issuance of up to 90 million pre-consolidated common shares of Touchstone at a deemed price of $0.05 per share and a cash payment to the current shareholders of Sandy Cove. Touchstone Resources Ltd.
shares V.TCH.H are trading even at $0.06.
