Orca Exploration announces completion of Normal Course Issuer Bid

TORTOLA, British Virgin Islands, Oct. 18, 2019 (GLOBE NEWSWIRE) -- 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 933,028 Class "B" Shares at a weighted average price of $6.43 per Class "B" Share for aggregate consideration of approximately Cdn. $6,000,000, being the maximum aggregate consideration authorized under the Bid. The Class "B" Shares repurchased under the Bid will be cancelled.

About Orca Exploration Group Inc.

Orca is an international public company engaged in natural gas exploration, development and supply in Tanzania through its subsidiary PAET. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

For further information please contact:

Nigel Friend, CEO
[email protected]

Blaine Karst, CFO
[email protected]

For media enquiries:
Celicourt (PR)
Mark Antelme
Jimmy Lea
[email protected]
+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.