14:25:42 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Orca Gold Inc
Symbol ORG
Shares Issued 113,288,106
Close 2017-01-13 C$ 0.36
Market Cap C$ 40,783,718
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Orca Gold cheers U.S. easing of sanctions against Sudan

2017-01-16 07:39 ET - News Release

Mr. Richard Clark reports

U.S. TREASURY DEPARTMENT ANNOUNCES EASING OF U.S. SANCTIONS AGAINST THE REPUBLIC OF THE SUDAN

Orca Gold Inc. has provided an update. On Jan. 13, 2017, President Obama signed an executive order "recognizing positive actions by the government of Sudan and providing for the revocation of certain Sudan-related sanctions."

The full text of the release from the U.S. Treasury Department can be found via a link on the company's website. Under the order, which will come into effect on July 12, 2017, U.S. persons will be able to transact business with individuals and entities in Sudan, and property of the government of Sudan subject to U.S. jurisdiction will be unblocked.

"This announcement by the U.S. government is a huge step for Sudan on its path towards political and economic reintegration with the West. The government of the Sudan is to be congratulated for its efforts in working towards international acceptance and social and economic improvement for its people. We at Orca are pleased and excited to be part of that program of improvement," Orca's chief executive officer and director, Richard Clark, commented. "This move by the United States significantly changes the financial landscape for the development of our 2.2-million-ounce gold project at block 14. We look forward to introducing our company to investors that up to this point have been restricted in investing in Orca and Sudan."

About Orca Gold

Orca Gold is a Canadian resource company focused on exploration and development opportunities in Africa, where it is currently focused on the development of its 70-per-cent-owned block 14 project in the Democratic Republic of the Sudan. The company has an experienced board of directors and management team, and a strong balance sheet, with a treasury of $9.5-million at December, 2016.

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