Orca Announces a Private Placement of Units

Vancouver, British Columbia (FSCwire) - Orca Touchscreen Technologies Ltd. (the “Company”) (CSE:OAA) is pleased to announce that it proposes to conduct a private placement of up to 20,000,000 units of the Company at a purchase price $0.44 per Unit for proceeds of up $8,800,000 to be used for general working capital purposes. 

Each unit will be comprised of 1 common share and one-half of one warrant.  Each whole warrant will be exercisable to purchase 1 additional common share of the Company at an exercise price of $0.55 per share for a period of 5 years from the issuance date of such warrants.

The common shares and the warrants comprising the units shall be subject to a hold period of 6 months and 1 day from their date of issuance.

In connection with the private placement, the Company intends to pay compensation to finders of up to 20% of the Units purchased by subscribers introduced by such finders.

About Orca Touchscreen

Orca Touchscreen sells and distributes capacitive touchscreens to manufacturers of smartphones, tablets, laptops, mp3 players, GPS navigation systems, automobile controls, exercise equipment, educational and public information kiosks, point of sale devices, e-readers, medical devices, gaming consoles and other electronic devices.  Orca Touchscreen has an exclusive worldwide license to use and sublicense all the technology and patents owned by Sollensys Corp. to make, sell and distribute touchscreen products and services.  Sollensys Corp., a Korean corporation, is a global leader in innovative capacitive touch sensor technologies.

The common shares of the Company are listed for trading on 3 markets:  the Canadian Securities Exchange under the trading symbol “OAA”, the Frankfurt Stock Exchange under the trading symbol “6OT”, and on the OTCQB marketplace (part of OTC Markets Group) under the trading symbol “ORTFF”.

To learn more about Orca Touchscreen, visit www.orcatouchscreen.com , and you can view its profile and documents at www.sedar.com and www.thecse.com.

For further information, please contact:

Jong Myung (James) Choi

Chief Financial Officer and a Director

Orca Touchscreen Technologies Ltd.

Telephone:  604.880.0499

Email:  info@orcatouchtech.com 

For investor relations, please contact:

Christina Payne, President or Nick Boutsalis, Vice President

Primoris Group Inc.

Telephone:  416.489.0092

Email:  ir@orcatouchtech.com

None of the CSE, the Frankfurt Stock Exchange and OTC Markets have reviewed, approved or disapproved the contents of this press release.

Not an Offer in the United States

This news release is not an offer of the securities for sale in the United States.  The securities being offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration.

Forward-Looking Information:

This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company.  Forward-looking information is based on certain key expectations and assumptions made by the management of the Company.  Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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