VANCOUVER, BC, May 5, 2021 /CNW/ - Orca Gold Inc.
(TSXV: ORG) ("Orca" or the "Company") is pleased to announce
that it has granted an aggregate of 4,650,000 incentive stock
options to certain officers, directors, and other eligible persons
of the Company. The options are exercisable, subject to vesting
provisions, over a period of three years at a price of $0.59 per share.
The Company has also granted a total of 508,476 Deferred Share
Units ("DSUs") to non-executive Directors and 2,016,951 Restricted
Share Units ("RSUs") to executives and senior management. The
DSUs and RSUs are granted in accordance with the Company's Deferred
Share Unit Plan and Restricted Share Unit Plan. The RSUs are
subject to vesting provisions.
On behalf of the Board of Directors,
"Richard P. Clark"
Richard P. Clark| CEO &
Director | Orca Gold Inc. | 604.689.7842
About Orca Gold Inc.
Orca Gold Inc. (TSX-V: ORG) is a Canadian resource
company focused on exploration and development opportunities in
Africa. Led by a board of
directors made up of industry experts and a management team with a
track record of discovering and building significant mines
globally, Orca is developing one of the leading gold projects in
Africa. The Company is currently
focused on its 70%-owned Block 14 Gold Project in the Republic of
the Sudan on which a Feasibility
Study was completed in November 2018
and revised in September 2020.
Cautionary Statement Regarding Forward-Looking
Information
Certain information contained in this
press release constitutes "forward-looking information",
within the meaning of applicable Canadian and U.S. securities laws.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". The forward-looking
information contained herein is provided for the purpose
of assisting readers in understanding
management's current expectations and plans relating to the future.
Readers are cautioned that such information may
not be appropriate for other purposes.
Forward-looking statements contained in this press release
may include statements regarding the use of proceeds, the closing
of the Private Placement, the future operating or financial
performance of the Company and the financial metrics reported in
our feasibility study, which involve known and unknown risks and
uncertainties which may not prove to be accurate. Actual results
and outcomes may differ materially from what is expressed or
forecasted in these forward-looking statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Among those factors which could
cause actual results to differ materially are the following:
the requirement for regulatory approvals; enhanced uncertainty
in global financial markets as a result of the current COVID-19
pandemic; unquantifiable risks related to
government actions and interventions; stock
market volatility; regulatory restrictions; that the Feasibility
Study may not represent a viable development option for Block 14
and that the assumptions set out therein (particularly with respect
to the economics of Block 14) may prove to be untrue or inaccurate;
that actual Mineral Reserves and Resources at Block 14 and the
grades thereof may be less or different in nature than those
contained in the Feasibility Study; that the Company may not meet
the production estimates set out in the Feasibility Study; that the
life of mine at Block 14 may be shorter than anticipated; that the
Company may not receive the necessary permits on time, or at all;
risks related to cost overruns and the changes of the cost of
inputs; that the development and mining of Block 14 may experience
delays and may not proceed on the expected timeline, or at all;
that the Company may develop Block 14 in a different manner than is
set forth in the Feasibility Study and
other risk factors listed from time to time in our reports filed
with Canadian securities regulators on SEDAR at
www.sedar.com. The forward-looking statements included in
this press release are made as of the date of this press release
and the Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Orca Gold Inc.
