Orbite Announces Addition to its Board of Directors
May 21 2014 - 8:00AM
Marketwired
Orbite Announces Addition to its Board of Directors
MONTREAL, QUEBEC--(Marketwired - May 21, 2014) - Orbite Aluminae
Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") today
announced that Mr. Shaun Usmar has been appointed to the Company's
Board of Directors as an independent member, effective
immediately.
Mr. Usmar currently is a Managing Partner at Magris Resources
Inc., a company whose purpose is to acquire, build and operate
mining assets on a global basis. Prior to joining Magris, Mr. Usmar
was one of the initial senior executives that helped grow Xstrata
plc from a company with 2500 employees and a market value of $500
million to one with 70,000 employees in 20 countries and a value of
$58 billion. During his 11 years with Xstrata, he held roles on
three different continents, ranging from General Manager of
Business Development for Xstrata plc in London, to CFO of Xstrata
Alloys in South Africa, the world's largest ferro-chrome producer,
to CFO of Xstrata Nickel in Toronto, the world's fourth largest
nickel producer, after the takeover of Falconbridge in 2006. He
also helped establish and held the role of Chairman of Xstrata
Technology, a business that developed and sold a number of leading
processing technologies to the mining sector. Prior to Xstrata he
worked at BHP Billiton in Corporate Finance, where he helped
successfully conclude coal deals in Colombia as well as being part
of the deal team on the $30 billion BHP Billiton merger. He started
his career as a Production Engineer in the steel and aluminum
sectors.
Throughout his career, Mr. Usmar has built up a strong track
record in financial management and reporting, deal structuring and
negotiations, financings, as well as restructuring and turnarounds.
Mr. Usmar holds an MBA from the Kellogg Graduate School of
Management and a B.Sc (Eng) in Metallurgy and Materials from the
University of the Witwatersrand, South Africa.
"We are very pleased that Shaun has agreed to join our Board",
stated Claude Lamoureux, Orbite's Chairman of the Board. "He has
great industry standing, and brings deep management experience in
fields such as metallurgy, metals and alloys, as well as in
finance, marketing and strategic planning. We believe this will all
prove very valuable to Orbite through its commercialization phase
and beyond. Over the past twelve months, our Board composition has
changed substantially, significantly deepening and strengthening
its capabilities in important areas, such as operations, deal
making and corporate governance."
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 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 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 Company also operates a state of the art
technology development center in Laval, Quebec, where its
technologies are developed and validated.
Investor Relations: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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