Orbite Technologies Inc.

Orbite Technologies Inc.

February 23, 2016 07:30 ET

Orbite Strengthens Board of Directors

MONTRÉAL, QUÉBEC--(Marketwired - Feb. 23, 2016) - Orbite Technologies Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") today announces the appointment of Pierre Gignac as an independent member to the Company's Board of Directors.

Prior to his retirement in 2015, Mr. Gignac spent 17 years at Export Development Canada ("EDC") in a variety of senior roles, including Interim Chief Executive Officer. EDC, a Crown corporation, is Canada's export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities.

Before joining EDC, Mr. Gignac worked in several senior positions at Metropolitan Life, one of the world's largest insurance and financial services companies, lastly as Vice-President and Actuary, responsible for the Actuarial/Financial Management Department, the Life and Financial Services Product Development Units, and the Customer Service/Administration Department.

Throughout a career spanning several decades, Mr. Gignac has developed broad experience and expertise in General Management, Enterprise Risk Management, Corporate Social Responsibility, Business Development, Finance and Human Resources.

"Pierre brings to Orbite a wealth of managerial and corporate governance experience, as well as a vast network of national and international contacts in both industry and finance," stated Claude Lamoureux, Chairman of the Board of Orbite. "We believe that with Pierre we have been able to attract an exceptionally strong Board member, whose experience will bring great value to Orbite in its pursuit of international expansion."

"Orbite's technology has unique qualities that position the Company well for exporting waste monetization and commodity opportunities on a global basis," commented Pierre Gignac. "I look forward to working with the Board and the management team to help realize the Company's significant potential."

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 29 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 31, 2015 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

  • NATIONAL Equicom
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    416 848 1397

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