WEST PALM BEACH, FL,
Nov. 21, 2016 /CNW/ - On
November 18, 2016, Lloyd I. Miller, III, ("Miller") acquired
beneficial ownership and control over an aggregate of 40,000 class
B subordinated voting shares (the "Shares") of Orca Exploration
Group Inc. ("ORCA") (TSX-V: ORC.B), representing approximately
0.12% of the currently issued and outstanding Shares. The foregoing
Shares were acquired through MILFAM II L.P., a partnership in
respect of which Miller is the managing member of the general
partner. These Shares were acquired through the facilities of the
TSX Venture Exchange at a price of US$2.8149 per Share or CDN$3.8055 per Share (based on the Bank of
Canada noon exchange rate on
November 18, 2016).
Immediately prior to the transaction described herein, Miller
beneficially owned and controlled an aggregate of 5,431,800 Shares,
representing approximately 16.41% of the issued and outstanding
Shares. Immediately after the transaction, Miller beneficially owns
and controls an aggregate of 5,471,800 Shares, representing
approximately 16.53% of the issued and outstanding Shares.
The Shares were acquired for investment purposes. Depending on
the evolution of ORCA's business, financial condition, the market
for ORCA's securities, general economic conditions and other
factors, Miller and his joint actors may acquire additional
securities of ORCA, or sell some or all of the securities they
hold, in the open market, by private agreement or otherwise,
subject to their availability at attractive prices, market
conditions and other relevant factors.
The head office address of ORCA is Oyster Plaza Building, 5th
Floor, P.O. Box 80139, Haile Selassie Road, Dar es Salaam, Dar es
Salaam (c/o: Burnet, Duckworth & Palmer LLP, 2400, 525 8th
Avenue S.W., Calgary, AB, T2P
2G1).
SOURCE Orca Exploration Group Inc.
