LUXEMBOURG, LUXEMBOURG--(Marketwired - April 11, 2013) - Zebra Holdings & Investments S.à.r.l. ("Zebra") announces that on April 9th, 2013 it received 16,839,457 common shares of Orca Gold Inc. (the "Company"). The common shares were issued to Zebra pursuant to a share purchase agreement between Orca Gold Inc (formerly known as Canaco Resources Inc.), Shark Minerals Inc. and the shareholders of Shark dated December 14th, 2012 and will be listed on the TSX Venture Exchange.
Pursuant to the Share Purchase Agreement, each shareholder of Shark received 2.7339 Orca Gold shares for every Shark share held. In accordance with the policies of the TSX-V, the Acquired Common Shares are subject to an escrow agreement dated April 4, 2013, among Orca Gold, Computershare Trust Company of Canada and certain shareholders of Shark. The Acquired Common Shares will be released over a 36 month period in accordance with the release schedule of a Value Security Escrow Agreement (as such term is defined under the TSX-V Policy 5.4 - Escrow, Vendor Consideration and Resale Restrictions). The Acquired Common Shares will be subject to an earlier release schedule if Orca Gold becomes a Tier 1 Issuer under the TSX-V.
Zebra now owns 16,839,457 common shares of the Company or approximately 15.76% of the Company's issued and outstanding share capital.
Zebra has acquired securities in the Company for investment purposes only and may, in the ordinary course of their business, acquire additional securities of the Company depending on market and other conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.