Vancouver, British Columbia (FSCwire) - Mr. Walter Zmug is pleased to provide early warning of an acquisition of securities of Orca Touchscreen Technologies Ltd. (the “Company”) (CSE:OAA, FSE:6OT, OTCQB:ORTFF). 

Shareholder’s Early Warning

As required by section 5.1 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids, Mr. Walter Zmug hereby provides early warning of his acquisition on September, 25, 2015 of a sufficient number of common shares of the Company to increase his holdings to over 10% of the total number of common shares of the Issuer issued and outstanding. 

On Friday, September 25, 2015 (the “Closing Date”) the Company closed a non-brokered private placement of 3,726,604 units at a price of $0.30 per unit (the “Private Placement”), based on total gross proceeds of exactly $1,117,980.92 to be used for general working capital purposes.  Each unit is comprised of 1 common share and one-half of one warrant.  Each whole warrant is exercisable to purchase 1 additional common share of the Company at an exercise price of $0.40 per share for a period of 5 years from the issuance date of such warrants.

Before the Closing Date of the Private Placement, Mr. Zmug beneficially owned and controlled 3,089,006 common shares and warrants exercisable to purchase 1,094,504 common shares of the Company, representing approximately 6.7% of the 45,804,105 common shares then issued and outstanding (and representing approximately 8.8% of the 47,967,469 common shares on a fully-diluted basis; that is, including all shares issuable upon exercise of warrants). 

On the Closing Date and as one of the investors in the Private Placement, Mr. Zmug acquired ownership and control of 2,910,945 units at $0.30 each, for which he paid $873,283.41.  Mr. Zmug’s units are comprised of 2,910,945 common shares and warrants exercisable to purchase 1,455,472 common shares. 

After the Private Placement, Mr. Zmug now beneficially owns and controls 5,999,951 common shares and warrants exercisable to purchase 2,549,977 common shares of the Company, representing approximately 12.1% of the 49,530,709 common shares issued and outstanding (and representing approximately 16.0% of 53,557,375 common shares on a fully-diluted basis; that is, including all shares issuable upon exercise of warrants).

A related early warning report from Mr. Zmug will be filed on SEDAR within 2 business days of the Closing Date, and an insider report from Mr. Zmug will be filed with SEDI within 10 days of the Closing Date.

About Orca Touchscreen

Orca Touchscreen’s business is the design, production, sale, distribution, service and refurbishment of touchscreen devices, including smartphones and tablets.  The Company is working with partners in developing countries to establish semi knock down (SKD) assembly factories to produce smartphones, tablets and other touchscreen devices for sale in that country’s growing market. 

As well, Orca Touchscreen has an exclusive worldwide license to use and sublicense all the technology and patents owned by Sollensys Corp., incorporated in Korea, for the purposes of making, selling and distributing touchscreen products and services. 

The common shares of Orca Touchscreen are listed for trading on 3 markets:  the Canadian Securities Exchange under the trading symbol “OAA”, the Frankfurt Stock Exchange under the trading symbol “6OT”, and on the OTCQB marketplace (part of OTC Markets Group) under the trading symbol “ORTFF”.

To learn more about Orca Touchscreen, visit www.orcatouchscreen.com, and you can view its profile and documents at www.sedar.com and www.thecse.com.

For further information, please contact:

Michael Malana

Chief Financial Officer

Orca Touchscreen Technologies Ltd.

Telephone:  604.601.8504

Email:  info@orcatouchtech.com 

For investor relations, please contact:

Christina Payne, President or Nick Boutsalis, Vice President

Primoris Group Inc.

Telephone:  416.489.0092

Email:  ir@orcatouchtech.com

None of the CSE, the Frankfurt Stock Exchange and OTC Markets have reviewed, approved or disapproved the contents of this press release.

Forward-Looking Information:

This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company.  Forward-looking information is based on certain key expectations and assumptions made by the management of the Company.  Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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