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Orca Announces Completion of Normal Course Issuer Bid

Posted on 19 June 2020

TORTOLA, British Virgin Islands, June 19, 2020:  Orca Exploration Group Inc. (“Orca” or the “Company”) (TSX-V: ORC.A, ORC.B) announces that it has completed its normal course issuer bid (the “Bid“) for its Class B Subordinate Voting Shares (“Class B Shares“).

Under the Bid, Orca repurchased 477,500 Class B Shares at a weighted average price of $5.32 per Class B Share for aggregate consideration of approximately Cdn. $2,540,300. The Class B Shares repurchased under the Bid will be cancelled.

After giving effect to the Bid, Orca will have 24,387,460 Class B Shares and 1,750,495 Class A Common Shares issued and outstanding.

About Orca Exploration Group Inc.

Orca is an international public company engaged in natural gas exploration, 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:
Celicourt (PR)
Mark Antelme
Jimmy Lea
Jemima Lowe
+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.