Orca Exploration Group Inc. today announces it has filed its condensed consolidated interim financial statements and management's discussion and analysis for the three month period ended March 31, 2020 with the Canadian securities regulatory authorities. All amounts are in United States dollars unless otherwise stated. Revenue for Q1 2020 decreased by 11% to $17.7 million compared to the same prior year period. The [...]
Orca Exploration Group Inc. today announces its audited financial results for the year ended December 31, 2019. All dollar amounts are in United States dollars unless otherwise stated. Revenue for 2019 increased by 48% to $85.6 million and 72% to $23.2 million for Q4 2019 over the comparable prior year period. The increases are primarily due to increased sales to the Tanzanian Electric Supply Company Limited , sales to [...]
Orca Exploration Group Inc. has announced that it has amended its Normal Course Issuer Bid commenced on June 14, 2019 to allow it to purchase additional Class B Subordinate Voting Shares through the facilities of the TSX Venture Exchange and alternative trading systems in Canada. Purchases made pursuant to the Bid will not exceed 700,000 Class B Shares, representing not more than 5% of the issued and outstanding Class B [...]
Orca Exploration Group Inc. provides an operational update. All currency amounts in this news release are in United States Dollars unless otherwise stated. Cash and short-term investments totaled $99.2 million on March 30, 2020 compared to $138.7 million at December 31, 2019. The decrease takes into account payments by the Company pursuant to its recently completed substantial issuer bid in the aggregate amount of [...]
Orca Exploration Group Inc. today is announcing that it has taken several steps to limit the impact of the COVID-19 virus on its operations in Tanzania and the health of its employees. It has been reported that there are now three confirmed cases of COVID-19 in Tanzania, all of whom are foreign nationals or have recently returned from Europe. The Government of Tanzania is reported to be considering control measures which [...]
Orca Exploration Group Inc. today is announcing that it has taken up and paid for 7,692,297 Class B Subordinate Voting Shares at a price of CDN$6.50 per Class B Share under Orca's substantial issuer bid to purchase for cancellation a number of its Class B Shares for an aggregate purchase price not to exceed CDN$50 million . The shares taken up are nine less than previously announced due to rounding. All dollar amounts are [...]
Orca Exploration Group Inc. today is announcing the final results of its substantial issuer bid commenced on January 28, 2020, pursuant to which the Company offered to purchase for cancellation a number of its Class B Subordinate Voting Shares for an aggregate purchase price not to exceed CDN$50 million at a purchase price of not less than CDN$6.50 and not more than CDN$7.50 per Class B Share . The Offer expired at 5:00 [...]
Orca Exploration Group Inc. today is announcing the preliminary results of its substantial issuer bid commenced on January 28, 2020, pursuant to which the Company offered to purchase for cancellation a number of its Class B Subordinate Voting Shares for an aggregate purchase price not to exceed CDN$50 million at a purchase price of not less than CDN$6.50 and not more than CDN$7.50 per Class B Share . The Offer expired at [...]
Orca Exploration Group Inc. announces its preliminary unaudited financial results for 2019 and its Independent Reserves Evaluation as at December 31, 2019. This update should be read in conjunction with the update provided in our news release issued on January 24, 2020. All currency amounts in this news release are in United States Dollars unless otherwise stated. FINANCIAL HIGHLIGHTS For the year ended December 31, 2019 [...]
Orca Exploration Group Inc. today announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per Class A Common Voting Share of the Company and $0.06 per Class B Subordinate Voting Share of the Company. The dividend will be payable on April 30, 2020 to holders of Class A Common Voting Shares and Class B Subordinate Voting Shares of record on March 31, 2020. About Orca Exploration Group Inc. Orca [...]
Orca Exploration Group Inc. today is commencing its previously announced substantial issuer bid pursuant to which the Company will offer to purchase for cancellation up to CDN$50 million of its Class B Subordinate Voting Shares for cash . The Offer will expire at 5:00 p.m. on March 4, 2020, unless extended, varied or withdrawn by Orca. All dollar amounts are in Canadian dollars. The Offer is being made by way of a [...]
Orca Exploration Group Inc. announced today the authorization of a substantial issuer bid, the outcome of its strategic review process, and its focused strategy to grow an integrated gas business in Africa. Outcome of Strategic Review Process With the assistance of its financial advisor, RBC Capital Markets, the special committee of the board of directors of the Company completed a thorough review of the options available [...]
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