Orbite Aluminae Inc.
TSX : ORT
OTCQX : EORBF

Orbite Aluminae Inc.

March 26, 2015 08:08 ET

Orbite Updates Market on Public Offering and Announces Postponement of Shareholders Meeting

MONTRÉAL, QUÉBEC--(Marketwired - March 26, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") announces that as a consequence of recent market activity and conditions, it will not be proceeding with the public offering of convertible debentures disclosed in its press release dated March 23, 2015.

Also, as circumstances have evolved since the calling of the special meeting of shareholders initially expected to be held on April 2, 2015 for the purposes of the Series Y Subscription Rights, the Company will postpone the date of the meeting to a date to be confirmed shortly.

About Orbite

Orbite Aluminae Inc. is a Canadian clean technology based mineral-processing and resource development 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 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 portfolio contains 15 intellectual property families, including 15 patents and 98 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 November 5, 2014 on SEDAR and the section of the Company's base shelf prospectus dated March 18, 2015 entitled "Risk Factors".

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

  • TMX EQUICOM
    Marc Lakmaaker, External Investor Relations Consultant
    1-800-385-5451 ext. 248
    mlakmaaker@tmxequicom.com

    For Media Inquiries:
    TMX EQUICOM
    Scott Anderson, External Media Relations Consultant
    1- 800-385-5451, ext. 252
    sanderson@tmxequicom.com