Vancouver, British Columbia (FSCwire) - Orca Touchscreen Technologies Ltd. (the “Company”, or “Orca Touchscreen”) (CSE:OAA, FSE:6OT, OTCQB:ORTFF) is pleased to announce it proposes to conduct a non-brokered private placement by way of offering memorandum dated March 7, 2016 of up to 2,000,000 units of the Company (each, a “Unit”) at a purchase price $0.30 per Unit to raise gross proceeds of up $600,000 to be used for general working capital purposes. 

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one half of one warrant (each whole warrant, a “Warrant”). Each whole Warrant will be exercisable to purchase one additional Common Share at an exercise price of $0.40 per share for a period of five years from the issuance date of such warrants.

Unless exempt under securities legislation, the Common Shares and the Warrants comprising the Units shall be subject to a hold period of four months and one day from their date of issuance.  As well, the Common Shares and the Warrants comprising the Units shall be subject to a special hold period of six months and one day from their date of issuance.

In connection with the private placement, the Company intends to pay finders a cash fee equal to 20% of the value of the Units purchased by subscribers introduced by such finders.

About Orca Touchscreen

The common shares of the Company 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: cfo@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.

Not an Offer in the United States

This news release is not an offer of the securities for sale in the United States. The securities being offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration.

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.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.