Orbite Technologies Inc (EORBF)

[Tommy]

$EORBF - $ORT.TO - Orbite Files Base Shelf Prospectus

http://finance.yahoo.com/news/orbite-files-shelf-prospectus-164438434.html

MONTREAL, QUEBEC--(Marketwired - Apr 3, 2013) - Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Company") is pleased to announce that it is increasing the Company's financial flexibility by having filed a preliminary short form base shelf prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces of Canada. The Prospectus is not a commitment to undertake any financing but provides flexibility over the normal course of business to fund the Company's projects over the 25-month period that it remains effective.

"Orbite is still a development-stage company with multiple projects, each with different capital requirements over the next two years. Once filed, this shelf prospectus will increase the Company's financial flexibility to fund our projects in a timely and effective manner during the next 25-months," stated Richard Boudreault, Orbite's President and CEO. "We are continuously assessing financing options to advance Orbite's projects, including joint-venture partnerships, project debt financings, strategic investments and equity financings, all with the ultimate objective of maximizing shareholder value."

These filings, when made final, will allow the Company to make offerings of debt securities, common shares, warrants, subscription receipts or units comprising any combination of the foregoing (all of the foregoing, collectively, the "Securities"), up to an aggregate offering of $300,000,000 during a 25-month period that the final short form base shelf prospectus, including any amendments thereto, remains effective. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an eventual accompanying shelf prospectus supplement and, subject to applicable regulations, may include public offerings of debt or equity, or strategic investments.

Unless otherwise specified in a prospectus supplement, the net proceeds from the sale of the Securities that may be offered under the Prospectus, and the applicable prospectus supplement, will be used by the Company for general corporate purposes, for completion of its ongoing National Instrument 43-101 compliant feasibility study for its proposed smelter grade alumina ("SGA") production plant, for detailed engineering and construction costs of the proposed SGA production plant, for detailed engineering and construction costs for the proposed Veolia Red Mud plant, for advancement and optimization of the high purity alumina plant towards its full capacity, and for ongoing research and development initiatives.