TORTOLA, British Virgin Islands, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. ("Orca" or the "Company") (TSX-V: ORC.A, ORC.B) announced today that the Company has agreed to extend the deadline to complete the conditions (the "Longstop Date") of the previously announced transaction (the "Proposed Transaction") among Orca, Taifa Gas Tanzania Limited ("Taifa") and Amber Energy Investment L.L.C-FZ ("Amber", and together with Taifa, the "Purchasers"), pursuant to the terms of the Sale and Purchase Agreement dated April 10, 2026 (the "Sale and Purchase Agreement") among Orca and the Purchasers.
Extension of the Longstop Date
Pursuant to the terms of the Sale and Purchase Agreement, the Longstop Date was extended by mutual agreement between the Company and the Purchasers to August 31, 2026 (the "Extended Longstop Date"). This extension is to provide additional time for the Purchasers to obtain all required regulatory approvals in the United Republic of Tanzania. Any party to the Sale and Purchase Agreement is entitled to terminate the agreement within ten business days of the Extended Longstop Date. This termination right is in addition to any party's right to terminate the Sale and Purchase Agreement at any time and for any reason.
Closing of the Proposed Transaction remains subject to customary and transaction-specific conditions, including acceptance by the TSX Venture Exchange and receipt of Tanzanian regulatory approvals.
About Orca Energy Group Inc.
Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary, PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
