Orbite Aluminae Inc.

November 24, 2010 08:00 ET

Orbite Appoints New Vice President Finance and CFO

With 25 years of financial management experience at prestigious businesses under his belt, Jacques Bedard is bringing his exceptional reputation and expertise to Orbite

MONTREAL, QUEBEC--(Marketwire - Nov. 24, 2010) - Exploration Orbite V.S.P.A. Inc. ("Orbite") (TSX VENTURE:ORT.A) is pleased to announce that Mr. Jacques Bédard has been appointed Vice President Finance and Chief Financial Officer of Orbite, effective today.

Mr. Bédard is a senior executive officer with over 25 years of international financial management experience in the high technology, multimedia and medical device sectors. In particular, Mr. Bédard has engineered numerous mergers and acquisitions in addition to assuring a variety of related financing. He has brought several products and services into production and overseen the Canadian and overseas public offerings of many of the businesses he has worked with. His résumé includes terms as Vice President Finance and CFO for companies such as Softimage and ART, and he has also held senior management positions with Microsoft, among others. Mr. Bédard is a member of Ordre des CGA du Québec and the Certified General Accountants Association of Canada and also holds a Bachelor in Business Administration (accounting) from Université du Québec à Montréal.

"We are thrilled and proud beyond belief to have this opportunity to benefit from the expertise, integrity and reputation of a man of Mr. Bédard's caliber. We are certain that his arrival can serve only to accelerate Orbite's already rapid growth over the long and short terms. That Orbite is able to attract talent of this quality is a testament to the credibility of the organization's current and future endeavors," remarked Richard Boudreault, Orbite President and CEO. 

"I'm delighted to be joining the Orbite team, which is made up of seasoned veterans with a visionary approach to both science and business. I'm also very excited about the organization's considerable economic potential and commitment to respecting all applicable environmental standards," said Mr. Bédard.

Mr. Bédard was granted, on November 17, 2010, options to purchase a total of 1,000,000 shares further to Orbite's incentive stock option plan. The options have an exercise price of $0.67, will vest at a rate of 1/3 per year during the next three (3) years and will expire on November 17, 2015.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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