Orca Announces Quarterly Dividend and Results of the Annual Meeting of Shareholders

TORTOLA, British Virgin Islands, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (“Orca” or the “Company”) (TSX-V: ORC.A, ORC.B) today announced that its Board of Directors has declared a quarterly cash dividend of $0.08 (Cdn) per Class A Common Voting Share of the Company and $0.08 (Cdn) per Class B Subordinate Voting Share ("Class B Shares") of the Company. The dividend will be payable on October 15, 2020 to holders of Class A Common Voting Shares and Class B Shares of record on September 30, 2020.

Approval of Resolutions at Annual Meeting of Shareholders

Orca is pleased to announce that its shareholders approved all resolutions at its annual meeting of shareholders held on September 17, 2020 as follows:

1. Resolution to fix the number of directors to be elected at the meeting at four (4), with 99.32% of shares represented at the meeting voting in favour of the resolution.
    
2. Resolution to elect four (4) board members, with 99.43% of shares represented at the meeting voting in favour of each individual director.
    
3. Resolution to appoint KPMG LLP, Chartered Accountants, as the Company's auditors, with 98.61% of the shares represented at the meeting voting in favour of the resolution.

Not less than 99.17% of votes cast by the holders of Class B Shares voted in favour of the resolutions recommended by the Company's Board of Directors.

About Orca Energy Group Inc.

Orca is an international public company engaged in natural gas exploration, development and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

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