Neil S. Subin Disposes of Class B Subordinate Voting Shares of Orca Exploration Group Inc.

WEST PALM BEACH, Fla., Sept. 27, 2018 (GLOBE NEWSWIRE) -- Neil S. Subin announced the disposition of control or direction over 2,700,000 Class B Subordinate Voting Shares (the “Shares”) of Orca Exploration Group Inc. (“Orca”) representing a decrease in Mr. Subin’s securityholding percentage of approximately 8.06% of the issued and outstanding Shares. Mr. Subin disposed of the Shares through Lloyd I. Miller, III Trust A-4, MBM Trust A-4, Lloyd I. Miller, III Revocable Trust, Lloyd I. Miller, III Irrevocable Trust D, LIMFAM LLC, MILFAM II L.P. and MILFAM III LLC.

Prior to the disposition, Mr. Subin disposed of control or direction over 368,800 Shares through the above entities. Following the dispositions, Mr. Subin’s securityholding percentage decreased from 17.37% of the Shares as previously reported, to 8.21% of the Shares.

The transactions that resulted in the issuance of this release were completed through the facilities of the Toronto Stock Exchange, for total consideration of CDN$14,239,486.

The disposition was part of Mr. Subin’s and the above entities normal investment activities. Depending on the evolution of Orca’s business, financial condition, the market, if any, for Orca’s securities, general economic conditions and other factors, Mr. Subin and his joint actors may acquire additional securities of Orca or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the above-named companies, copies of which are filed on www.sedar.com, please contact: