LUXEMBOURG, LUXEMBOURG--(Marketwired - July 7, 2017) - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that Zebra has, pursuant to a Private Placement, acquired ownership and control of 6,750,000 Units ("Units") of Orca Gold Inc. ("Orca" or the "Company" / TSX.V: ORG) at a price of Can$0.40 per Unit. Each Unit consists of one common share and a one half share purchase warrant, with each full warrant exercisable at Cdn$0.55 for 12 months from the date of closing of the Private Placement. The common shares forming part of the Units acquired represent approximately 4.48% of the outstanding shares of Orca. The Private Placement was announced by the Company in its press release dated June 12, 2017.
As a result of the acquisition, Lorito will continue to hold 4,000,000 common shares or approximately 2.65% and Zebra will hold 23,589,457 common shares or approximately 15.64% of the issued and outstanding shares of Orca. Collectively, and as joint actors, Lorito and Zebra will hold and control an aggregate of 27,589,457 common shares or 18.30% of the issued shares of the Company. In addition, Zebra will hold 3,375,000 Orca warrants.
Lorito and Zebra are joint actors with respect to their common shares of Orca which were acquired for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in the shares of Orca depending upon the business and prospects of Orca and depending upon future market conditions.
A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574.
Contact Information:
Telephone Number: 011 41 22 595 1875