MONTREAL, QUEBEC--(Marketwire - June 12, 2012) - Orbite Aluminae Inc. (TSX:ORT) (the "Company") is pleased to announce that it has been added to two indices by the Canadian Index Services division of Standard & Poor's, one of the world's leading index providers. In addition, the Company announces that it has been named a finalist in the Desjardins Entrepreneur Awards. And finally, Orbite announces it has filed two new patent applications and is participating in the Aluminum Summit being held this week in New York.
Orbite attracts the attention of Standard & Poor's
On July 11, 2011, Orbite announced in a press release that it had been added to the Russell Global Index, which is widely used by fund managers and institutional investors. Today, the Company announces that it has been added to two indices of financial ratings firm Standard & Poor's (S&P). On June 8, 2012, S&P/TSX Canadian Indices added Orbite shares to the Global Mining Index and the Global Base Metals Index.
Orbite named Desjardins Entrepreneur Awards finalist
Desjardins Financial Group has selected Orbite as a finalist in the Innovation and Productivity category of its 2012 Entrepreneur Awards. This category recognizes the development of new, innovative processes that significantly increase and sustain a company's productivity. Orbite and two other medium-sized companies were named as finalists from among more than 100 Canadian firms identified by Desjardins's professionals.
Aluminum Summit in New York City
Richard Boudreault, President and CEO of Orbite, and Yves Noël, Vice-President, Sales and Marketing, are participating this week in the Aluminium Summit, which is being held in New York City from June 11 to 13. A number of meetings are scheduled with prospective customers and partners.
Orbite is also proud to announce that it has filed applications for two new patents. The first is an international patent application filed recently for a hematite production process. In addition, on May 15, 2012, the Company filed a patent application in the United States (US 13/471,901) for a process associated with the extraction of alumina from aluminous shale. To date, Orbite has ten families in its intellectual property portfolio, which now includes three issued patents and 25 applications pending in nine different countries.
Orbite currently owns 100% of the mining rights over a total of 60,984 hectares including the Grande-Vallée property measuring 6,665 hectares, the site of an aluminous clay deposit located 23 km south of Grande-Vallée, and a 2,600 mΓéé facility in the process of being converted into a high-purity alumina plant in Cap Chat, in the Gaspe region. An NI 43-101 report identified over 1 billion tonnes of aluminous clay in part of the deposit. The Company also owns ten different families of intellectual property rights (and patent pending), protected by Canadian and U.S. patents, for extracting alumina and for which patents are also pending in other countries. www.orbitealuminae.com.
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.