Orbite Aluminae Inc.: Update on Ongoing Discussions With the Government of Quebec
December 19 2013 - 8:00AM
Marketwired
Orbite Aluminae Inc.: Update on Ongoing Discussions With the
Government of Quebec
MONTREAL, QUEBEC--(Marketwired - Dec 19, 2013) - Orbite Aluminae
Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation")
announced today that, as a follow-up to its October 11, 2013 press
release and as a response to significant shareholder enquiry and
informal disclosures by several third parties, the Corporation
wishes to clarify the status of its financing discussions with the
Government of Québec. The Corporation is currently in discussions
with Investissement Québec ("IQ") regarding a potential
equity investment of up to 10M$, subject to several conditions
which have yet to be satisfied, including Cabinet approval,
customary due diligence, agreement on terms and pricing and
regulatory approval. The Corporation will keep the markets informed
of any material progress in these discussions.
About Orbite
Orbite Aluminae Inc. is a Canadian cleantech company who's
innovative and proprietary processes are expected 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 10 patents and 46 pending patent
applications in 10 different countries. The first intellectual
property family is patented in Canada, USA, Australia, China, and
Russia.
Forward-looking statements
Certain information contained in this document may include
"forward-looking information", including commentary related to the
possible investment in the Corporation by IQ. 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 November 14, 2013 on SEDAR.
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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