Business
Orca Exploration Group Inc. announces Normal Course Issuer Bid
TSX-V: ORC.A, ORC.B TORTOLA, British Virgin Islands , Dec. 29, 2014 /CNW/ - Orca ...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"\n\nTSX-V: ORC.A, ORC.B \n\n\n\nTORTOLA, British Virgin Islands, Dec. 29, 2014 /CNW/ - Orca Exploration Group Inc. (\"Orca\" or the \"Corporation\") has announced its intention to initiate a Normal Course Issuer Bid (the \"Bid\") for purchase of its Class \"B\" Subordinate Voting Shares (\"Class \"B\" Shares\") through the facilities of the TSX Venture Exchange.\n\nSubject to approval of the TSX Venture Exchange, purchases made pursuant to the Bid will not exceed 1,653,600 of the Class \"B\" Shares of Orca representing up to 5% of the total of 33,072,000 Class \"B\" Shares. The Bid provisions will be in effect from January 1, 2015 to December 31, 2015. Orca will spend a maximum of $5,000,000. Purchases pursuant to the Bid will be made by Mackie Research Capital Corporation on behalf of the Corporation.\n\nOrca believes that the purchase of Class \"B\" Shares under the Bid will contribute to the facilitation of an orderly market and be in the best interests of the Corporation and its shareholders. The Class \"B\" Shares will be purchased by Orca on the open market exclusively through the facilities of the TSX Venture Exchange pursuant to its rules governing normal course issuer bids. \n\nOrca is an international public company engaged in hydrocarbon exploration, development and supply of natural gas in Tanzania. Orca trades on the TSX Venture Exchange under the trading symbols ORC.B and ORC.A.\n\nForward Looking StatementsThis press release contains forward-looking statements. More particularly, this press release contains statements concerning, but not limited to: the Corporation's plans to purchase Class \"B\" Shares under the Bid; and Orca's belief that purchase of Class \"B\" Shares under the Bid will contribute to the facilitation of an orderly market and be in the best interests of the Corporation and its shareholders. Although management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, operational, competitive, political and social uncertainties and contingencies. As a consequence, actual results may differ materially from those anticipated in the forward looking statements. These forward-looking statements involve...