TORTOLA, BRITISH VIRGIN ISLANDS – July 29, 2020 – Orca Exploration Group Inc. (“Orca” or the “Company” including its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) announces that it intends to change its legal name to Orca Energy Group Inc. The effective date of the name change is expected to be July 31, 2020.
The Company’s board of directors approved the corporate name change to Orca Energy Group Inc. Completion of the name change is subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. No action will be required by existing shareholders with respect to the name change.
Nigel Friend, CEO of Orca, said:
“Today’s announcement is an important moment for Orca, as it reflects the Company’s focus on natural gas, as a transitional fuel, as well as our integrated role in energy developments. As global economies transition towards using less carbon intensive fuel sources, we believe that our strategy of developing proven gas resources for domestic consumption in Africa will leave us well placed to benefit from the global energy transition. We have stated previously that we intend to become a leading energy supplier on the continent, as seen with our role in Tanzania, where Orca is active throughout the gas value chain. We are committed to helping the country meet its long-term energy requirements and we believe that we are well placed to achieve the same goal in other parts of Africa.”
Orca Exploration Group Inc.
Orca is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.
For further information please contact:
Nigel Friend, CEO
Blaine Karst, CFO
For media enquiries:
+44-20 8434 2643
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain information regarding Orca set forth in this news release, including but not limited to: Orca’s intention to change its name; the effective date of the name change; approval from the TSX Venture Exchange; Orca’s intention to become a leading energy supplier in Africa; and the Company’s position in the market constitute “forward-looking information” within the meaning of applicable Canadian securities laws. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking information. Forward-looking information, by its very nature, involves inherent risks and uncertainties and is based on several assumptions, both general and specific. Orca cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking information is not a guarantee of future performance and involves known and unknown risks, uncertainties and other factors which may cause the actual results or performance of Orca to be materially different from the outlook or any future results or performance implied by such information.
The forward-looking information contained in this new release is provided as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable Canadian securities laws.