Orbite Aluminae Inc.

TSX : ORT
OTCQX : EORBF


Orbite Aluminae Inc.

February 17, 2014 13:34 ET

Orbite Announces Changes to President and Chief Executive Officer Position and to its Board of Directors

MONTRÉAL, QUÉBEC--(Marketwired - Feb. 17, 2014) - The Board of Directors of Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") announced that Mr. Glenn Kelly, previously Executive Vice-President and Chief Operating Officer of the Company, has been named President and Chief Executive Officer.

Mr. Richard Boudreault is stepping down from the position of President and Chief Executive Officer of the Company and has resigned as director of the Company effective immediately. Mr. Boudreault will remain available to the Company as a consultant for 6 months.

About Orbite

Orbite Aluminae Inc. is a Canadian cleantech company whose innovative and proprietary processes are expected to produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, and in a sustainable fashion, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. The Company's intellectual property portfolio contains 15 intellectual property families, and the Company owns the intellectual property rights to 11 patents and 57 pending patent applications in 10 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, and Russia. The Company also operates a state of the art technology development center in Laval, Quebec, where its technologies are developed and validated.

Forward-looking statements

Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, 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 November 14, 2013 on www.sedar.com.

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.

Contact Information

  • Medias: TACT Intelligence-conseil
    Mathieu Lavallee, External Media Relations Consultant
    514 667-0196, poste 411
    mlavallee@tactconseil.ca

    Investor Relations (today)
    Orbite Aluminae Inc.
    514 744-6264, ext. 140
    info@orbitealuminae.com

    Investor Relations (as of tomorrow, February 18, 2014)
    TMX EQUICOM
    Mark Lakmaaker, External Investor Relations Consultant
    1-800-385-5451 ext. 248
    mlakmaaker@tmxequicom.com

    For Media Inquiries (as of tomorrow, February 18, 2014)
    TMX EQUICOM
    Shaun Smith, External Media Relations Consultant
    1- 800-385-5451, ext. 252
    ssmith@tmxequicom.com