Orca Gold Announces Warrant Exercise by Major Shareholders
VANCOUVER, British Columbia, April 04, 2018 (GLOBE NEWSWIRE) -- Orca Gold Inc. (TSX.V:ORG) (“Orca” or the “Company”) is pleased to announce that since mid-February, its major
shareholders have exercised approximately 7.9 million warrants from the July 2017 private placement (see News Release: July 7, 2017) at a price of $0.55, for proceeds to the Company of $4.35
million. These funds will be deployed towards completion of a Feasibility Study on the Company’s Block 14 Gold Project in the Sudan, for continued exploration at Block 14 and in Côte d’Ivoire and
for general working capital purposes.
Commenting on the exercise of the warrants, Richard P. Clark, CEO said, “The early exercise of warrants by the major shareholders of Orca demonstrates the confidence that our shareholder base has in the direction and development of our Company. This cash injection will allow us to complete the Feasibility Study on Block 14 and continue to advance our exploration initiatives in Sudan and Côte d’Ivoire, without having to go back to the market at this time.”
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 completing a Feasibility Study on its 70%-owned Block 14 gold project in the Republic of the Sudan and is actively conducting exploration on its strategic portfolio of highly prospective gold properties in Côte d’Ivoire.
For Further Information, Contact:
Elina Chow
Investor Relations
Catch Advisory Group Inc.
416.645.0935 x 226
info@orcagold.com
Richard P. Clark
Chief Executive Officer
Orca Gold Inc.
604.689.7842
info@orcagold.com
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information and forward-looking statements within
the meaning of applicable Canadian securities laws, including statements regarding Orca’s (the “Company”, the “Corporation”, “we” or “our”) plans and expectations relating to the Block 14 project
(“Block 14”) in northern Sudan and the Feasibility Study (“FS”) currently being conducted by the Corporation. These statements relate to analyses and other information that are based on forecasts
of future results, estimates of amounts not yet determinable and assumptions of management. Statements concerning mineral resource estimates may also be deemed to constitute “forward-looking
statements” to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. The assumptions, risk and uncertainties outlined below are
non-exhaustive. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Corporation, or
industry results, may vary materially from those described in this presentation.