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Orca Energy Group Announces Anticipated Late Filing of Annual Financial Statements and Voluntary Application for Management Cease Trade Order
TORTOLA, British Virgin Islands, April 23, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (" Orc...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"Orca Energy Group Announces Anticipated Late Filing of Annual Financial Statements and Voluntary Application for Management Cease Trade Order\nTORTOLA, British Virgin Islands, April 23, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (\"Orca\" or the \"Company\") announces that as a result of delays in the completion of its audit, the Company anticipates that it will experience a short-term delay in filing its audited consolidated annual financial statements for the year ended December 31, 2025 (the \"Financial Statements\"), the related management's discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings (collectively the \"Required Filings\"). Under National Instrument 51-102 – Continuous Disclosure Obligations, the Required Filings are required to be made not later than April 30, 2026 (the \"Filing Deadline\"). On April 13, 2026, the Company announced a transaction among the Company, Taifa Gas Tanzania Limited, and Amber Energy Investment L.L.C-FZ, pursuant to which the Company will sell all of the outstanding shares of PAE PanAfrican Energy Corporation, its wholly-owned Mauritian holding subsidiary (the \"Proposed Transaction\"). The Company has determined that the Proposed Transaction must be considered during the audit and preparation, respectively, of the Financial Statements and the Required Filings, which has caused a temporary delay in the Company's provision of necessary documents to the auditor to complete their work in respect of the audit of the Financial Statements. This temporary delay is due to the timing of year end audit procedures and assessment of the Company's assumptions and judgments related to the Proposed Transaction. As such, the Company wishes to proactively advise investors that the Required Filings will not be made on or before the Filing Deadline. The Company has applied to the Alberta Securities Commission (the \"ASC\") pursuant to Part 3 of National Policy 12-203 – Management Cease Trade Orders (\"NP 12-203\") for a management cease trade order (\"MCTO\"). If granted, the MCTO will prohibit trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer until such time as the Required Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. During the period i...