Orbite Technologies Inc.

Orbite Technologies Inc.

May 12, 2016 07:30 ET

Orbite Appoints Chief Operating Officer

MONTREAL, QUÉBEC--(Marketwired - May 12, 2016) - Orbite Technologies Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") today announces it has appointed Charles Taschereau as Vice-President and Chief Operating Officer (COO) for the Company, effective June 6, 2016.

Mr. Taschereau joins Orbite from Congo Equipment S.A.R.L., a Caterpillar equipment dealer with 1,200 employees and over $350 million in annual sales, where he was CEO. Prior to joining Congo Equipment, he was COO at Canada Lithium Corporation, prior to its acquisition by RB Energy. At Canada Lithium, Mr. Taschereau was responsible for management of its feasibility study, financing and subsequent construction of its lithium project in Québec. Throughout a career spanning over 25 years, he has held various senior management positions, including project management mandates, financing responsibilities and process engineering at multinational resource companies, including IAMGOLD, Gold Fields and Cambior.

Mr. Taschereau has a broad educational background, and holds an MSc in mining engineering (metallurgy-Laval), an MBA (Curtin), a GMP (Harvard) and a Master in Sustainability (Cambridge), as well as a Canadian CPA-CMA designation.

"The appointment of Charles is a key step in strengthening our operations and project management capabilities," stated Glenn Kelly, CEO of Orbite. "He brings deep expertise in leading complex projects, including financing, budget control and commercialization, and we are very pleased to have attracted someone of his caliber. Long-term, Charles will be responsible for the project activities related to our waste monetization initiatives, as well as play a key role in the general management of Orbite operations, including our HPA plant."

Mr. Taschereau stated, "Orbite's technology is disruptive in the minerals processing industry, which is what attracted me to the Company. Considering the value locked up in various waste sources that currently have no or negative economic value, the commercial opportunity for the Company is substantial and I look forward to playing a role in pursuing this opportunity."

About Orbite

Orbite Technologies Inc. is a Canadian cleantech company whose innovative and proprietary processes are expected to produce alumina and other high-value 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, fly ash as well as serpentine residues from chrysotile processing sites. Orbite is currently in the process of commercializing its first HPA Plant in Cap-Chat. The Company's portfolio contains 16 intellectual property families, including 32 patents and 101 pending patent applications in 11 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, Japan and Russia. The Company also operates a state of the art technology development center in Laval, Québec, 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, 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 30, 2016 on SEDAR.

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

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    416 848 1397

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