Orbite Aluminae Inc.

June 16, 2008 11:18 ET

Orbite Raises $1,75 Million in a Private Placement

MONTREAL, QUEBEC--(Marketwire - June 16, 2008) - EXPLORATION ORBITE V.S.P.A. INC. (TSX VENTURE:ORT.A) ("Orbite") announces that, following the press release issued last May 22nd, the maximum amount for the private placement went from $1,505,000 to $1,750,000. All other conditions of the placement remain unchanged. The placement is reserved to accredited investors and is composed of units priced at $3,500. Each unit is composed of 25,000 class A shares of the corporation at a price per share of $0.14 and 25,000 warrants, each warrant being convertible into one (1) class A share of the Corporation at a price of $0.20 for a 12 months period following closing.

The proceeds from offering will be used as working capital.

The shares issued pursuant to the offering will be subject to a four-month holding period. No finder's fee will be payable for the transaction, which is subject to regulatory approval.

About Orbite

Exploration Orbite VSPA Inc. is the 100% holder of mineral rights relating to the Grande-Vallee property which consists in over 50 aluminous clay cells covering 2,800 hectares and located 32 km north-east of Murdochville, in Gapesie. The Corporation also holds intellectual property rights on a patent pending process for extracting alumina from aluminous argillite.

TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.

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