Orbite Technologies Inc (EORBF)

[Tommy]

$EORBF - $ORT.TO - Orbite Announces Terms of its Previously Announced Equity Financing

http://www.marketwire.com/press-release/orbite-announces-terms-of-its-previously-announced-equity-financing-tsx-ort-1807062.htm

Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation") announced today that it has fixed the terms of its previously announced "best efforts" marketed offering (the "Offering") of units consisting of class A shares and warrants of Orbite with its syndicate of agents led by Euro Pacific Canada Inc. and including National Bank Financial Inc. (collectively the "Agents"). The Corporation has reached its financing objectives as it anticipates raising minimum gross proceeds of C$35 Million and maximum gross proceeds of C$50 Million, at a price of C$0.70 per unit, each unit consisting of one class A share and one-half class A share purchase warrant, each whole warrant being exercisable at an exercise price of C$1.00 for a period of 36 months following issuance (the "Units").

In addition, the Corporation has granted the Agents the option to purchase up to that number of additional Units as is equal to 15% of the number of Units issued under the Offering during the 30-day period immediately following the Closing Date to cover over-allotments and for market stabilization purposes (the "Over-Allotment Option").

The net proceeds from the Offering will be used primarily to complete the Corporation's high-purity alumina plant located in Cap-Chat, Quebec and for general corporate and working capital purposes.

The Units will be offered in Canada by short form prospectus, and in other jurisdictions on a private placement basis, exempt from any prospectus, registration or other similar requirements. The offering is expected to close on or about July 12, 2013, subject to regulatory approvals.

A copy of the Corporation's preliminary short form prospectus is available on the SEDAR website at www.sedar.com.

This release does not constitute an offer for sale of securities nor a solicitation for offers to buy any securities. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Orbite

Orbite Aluminae Inc. is a Canadian Corporation with innovative and proprietary processes that is 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, without generating any wastes, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently operating and optimizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec. Orbite has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. Orbite signed an exclusive worldwide collaborative agreement with Veolia Environmental Services for the remediation of red mud using the Orbite processes with the intent to construct a Veolia-operated plant. The Corporation has an intellectual property portfolio that contains 14 IP families and owns the intellectual property rights to nine patents and 40 pending patent applications in 10 different countries.