EORBF Orbite Technologies Inc (CE)

MONTREAL, QUEBEC--(Marketwired - Apr 9, 2014) - Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation"), a cleantech company currently commercializing its high-purity alumina process, today provided a general update on its previously announced financing activities.

The change in provincial government resulting from the April 7, 2014 elections in Québec, is not expected to have any impact on the financing presently being finalized with Investissement Québec. The finalization of the equity investment by the Government of Québec continues to proceed as planned, as communicated in Orbite's March 27 general update press release.

Additionally, in accordance with the subscription agreement between Orbite and Crede Capital Group, LLC ("Crede"), Orbite issued Series X and Y Subscription Rights on March 11, 2014, as announced previously. Once exercisable, the Series X Subscription Rights require Crede to purchase $10 million of debentures of the Corporation. Orbite expects to obtain qualification by prospectus and have the units exercisable around May 15, 2014, subject to regulatory approval.

The Series Y Subscription Rights will first become exercisable on October 10, 2014. Terms and conditions for the Series X and Y subscription rights and the related debentures are provided in the subscription agreement and summarized in the Corporation's amended and restated prospectus dated December 6, 2013.

About Orbite

Orbite Aluminae Inc. is a Canadian cleantech company that has developed innovative and proprietary processes, which the Company expects to produce alumina and other high-value by-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 and fly ash. Orbite is currently 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 Corporation's intellectual property portfolio contains 15 intellectual property families, and the Corporation owns the intellectual property rights to 11 patents and 57 pending patent applications in 10 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, 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, forward-looking information may include statements regarding projects, costs, objectives and future returns of the Corporation 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 Corporation 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 Corporation'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 17, 2014 on www.sedar.com.

The Corporation 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.

TMX EQUICOMMark Lakmaaker, External Investor Relations Consultant1-800-385-5451 ext. 248mlakmaaker@tmxequicom.comFor Media Inquiries:TMX EQUICOMShaun Smith, External Media Relations Consultant1- 800-385-5451, ext. 252ssmith@tmxequicom.com

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