Business
ORCA Exploration Group Inc. announces Normal Course Issuer Bid
TORTOLA, British Virgin Islands, July 27 /CNW/ - Orca Exploration Group Inc. ("Orca") today annou...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"\n\n\n\nTORTOLA, British Virgin Islands, July 27 /CNW/ - Orca Exploration Group\nInc. ("Orca") today announced its intention to initiate a Normal Course Issuer\nBid for purchase of its Class "B" Subordinate Voting Shares through the\nfacilities of the TSX Venture Exchange.\n\n\nSubject to approval of the TSX Venture Exchange, purchases made pursuant\nto the bid will not exceed 1,389,406 Class "B" shares of Orca Exploration\nGroup Inc. representing up to 5% of the total of 27,788,128 Class "B" Common\nShares. The Normal Course Issuer Bid provisions will be in effect from July\n27, 2009 to July 27, 2010. The issuer will spend a maximum of $5,000,000.\n\n\nOrca believes that the purchase of Class "B" shares under the bid will\ncontribute to the facilitation of an orderly market and be in the best\ninterests of the Corporation and its shareholders. The Class "B" Common shares\nwill be purchased by Orca on the open market exclusively through the\nfacilities of the TSXV pursuant to its rules governing normal course issuer\nbids.\n\n\nOrca Exploration Group Inc. is a TSXV listed company, focused on the\nexploration and production of natural gas and the sale of "Additional Gas" to\nmarkets in East Africa. The Company began trading on the TSXV on August 31,\n2004 under the trading symbols ECE.B and ECE.A. Subsequently shareholders\napproved a name change for the Company from EastCoast Energy Corporation to\nOrca Exploration Group Inc. Shares in the Company now trade on the TSXV\nExchange as ORC.B and ORC.A.\n\n\nForward Looking Statements\n\n\nThis disclosure contains certain forward-looking estimates that involve\nsubstantial known and unknown risks and uncertainties, certain of which are\nbeyond Orca Exploration's control, including the impact of general economic\nconditions in the areas in which Orca Exploration operates, civil unrest,\nindustry conditions, changes in laws and regulations including the adoption of\nnew environmental laws and regulations and changes in how they are interpreted\nand enforced, increased competition, the lack of availability of qualified\npersonnel or management, fluctuations in commodity prices, foreign exchange or\ninterest rates, stock market volatility and obtaining required approvals of\nregulatory authorities. In addition there ar...