WEST PALM BEACH, FL, Nov. 21, 2016 /CNW/ - On November 18, 2016, Lloyd I. Miller, III, ("Miller") acquired beneficial ownership
and control over an aggregate of 40,000 class B subordinated voting shares (the "Shares") of Orca Exploration Group Inc. ("ORCA")
(TSX-V: ORC.B), representing approximately 0.12% of the currently issued and outstanding Shares. The foregoing Shares were acquired
through MILFAM II L.P., a partnership in respect of which Miller is the managing member of the general partner. These Shares were
acquired through the facilities of the TSX Venture Exchange at a price of US$2.8149 per Share or
CDN$3.8055 per Share (based on the Bank of Canada noon exchange rate
on November 18, 2016).
Immediately prior to the transaction described herein, Miller beneficially owned and controlled an aggregate of 5,431,800
Shares, representing approximately 16.41% of the issued and outstanding Shares. Immediately after the transaction, Miller
beneficially owns and controls an aggregate of 5,471,800 Shares, representing approximately 16.53% of the issued and outstanding
Shares.
The Shares were acquired for investment purposes. Depending on the evolution of ORCA's business, financial condition, the market
for ORCA's securities, general economic conditions and other factors, Miller 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.
The head office address of ORCA is Oyster Plaza Building, 5th Floor, P.O. Box 80139, Haile Selassie Road, Dar es Salaam, Dar es
Salaam (c/o: Burnet, Duckworth & Palmer LLP, 2400, 525 8th Avenue S.W., Calgary, AB, T2P
2G1).
SOURCE Orca Exploration Group Inc.
