MONTRÉAL, Dec. 30, 2014 /CNW Telbec/ - Lloyd I. Miller, III, the investment advisor to Lloyd I. Miller Trust A-4 ("Trust A-4"), acquired on December 29, 2014, ownership of 51,400 common shares (the "Common Shares") of ORCA Exploration Group Inc. ("ORCA") (TSX-ORC) through Trust A-4. The Common Shares were acquired through the facilities of the Toronto Stock Exchange at an average price of US$2.3414 per common share or CDN$2.7235 per common share (based on the Noon Bank of Canada exchange rate), representing approximately 0.15% of the currently issued and outstanding common shares of ORCA.
As a result of the acquisition of the Common Shares, Mr. Miller, through Trust A-4 and a number of limited liability companies, a trust and a partnership owns or has control or direction over an aggregate of 4,017,700 common shares of ORCA, representing approximately 12.11% of the issued and outstanding common shares.
The Common Shares were acquired for investment purposes only. Depending on the evolution of ORCA's business, financial condition, the market for ORCA securities, general economic conditions and other factors, Mr. 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.
SOURCE: Lloyd I. Miller, III
For further information: For inquiries or a copy of the related early warning report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact: Lloyd I. Miller, III, 3300 S. Dixie Highway, Suite 1-365, West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399; Eric Fangmann, 3300 S. Dixie Highway, Suite 1-365, West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399