Orbite Announces Completion of 10M$ Equity Investment by the Government of Quebec
27 Maio 2014 - 9:48AM
Marketwired
Orbite Announces Completion of 10M$ Equity Investment by the
Government of Quebec
MONTREAL, QUEBEC--(Marketwired - May 27, 2014) - Orbite Aluminae
Inc. (TSX:ORT) (OTCQX:EORBF) ("Orbite" or the "Corporation"), is
pleased to announce that, following its press release of March 3rd,
the Corporation has completed the $10,000,000 equity financing with
Ressources Québec ("RQ"), a subsidiary of
Investissement Québec.
As part of the financing, Ressources Québec purchased
35,714,286 units of the Corporation at a price of $0.28 per unit,
each unit being comprised of one class A share and one half (1/2)
of one class A share purchase warrant. Each full warrant entitles
RQ to purchase one class A share of the Corporation at a price of
$0.33 for 36 months from the date of closing.
"We are very pleased to welcome the Québec Government as an
important shareholder in Orbite" said Glenn Kelly, Orbite's
President and CEO. "We believe this investment shows confidence in
the future of our HPA production facility and recognizes the
importance of Orbite as an employer in the region."
The shares and warrants issued pursuant to the financing will be
subject to a four month hold following the closing date. The net
proceeds of the financing will be used towards the current
construction of Orbite's HPA production facility in Cap-Chat,
Québec.
About Orbite
Orbite Aluminae 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 and fly ash. 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 Corporation's intellectual property
portfolio contains 15 intellectual property families, and the
Corporation owns the intellectual property rights to 11 patents and
66 pending patent applications in 10 different countries and
regions. The first intellectual property family is patented in
Canada, USA, Australia, China, and Russia. The Corporation 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 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 May 13, 2014.
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.
Investor RelationsTMX EQUICOMMark Lakmaaker, External Investor
Relations Consultant1-800-385-5451 ext.
248mlakmaaker@tmxequicom.comFor Media InquiriesTMX EQUICOMShaun
Smith, External Media Relations Consultant1-800-385-5451, ext.
252ssmith@tmxequicom.com
Orbite Technologies (CE) (USOTC:EORBF)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Orbite Technologies (CE) (USOTC:EORBF)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
