MONTREAL, QUEBEC -- (Marketwired) -- 03/03/15 -- Orbite Aluminae Inc. (TSX: ORT)(OTCQX: EORBF) ("Orbite" or the "Company") today announced that, following its January 30 release announcing the convocation of a special meeting of shareholders to be held on April 2, 2015, the Company has filed a management proxy circular (the "Circular") soliciting proxies in favour of the approval of the Series Y Subscription Rights in the amount of up to 30M$, issued by the Company on March 10, 2014 (the "Rights"), as further described in the Circular.
While the Board of Directors is recommending shareholders approve the Rights, it may change its recommendation depending on evolving circumstances surrounding Orbite's efforts to secure alternative financing, in which case Orbite will notify shareholders by way of a press release and send an amendment to the Circular. Shareholders are reminded that they may change their vote at any time prior to 5pm on March 31, 2015.
Management continues to work on alternative financing opportunities.
The Circular is available on www.sedar.com and has also been mailed to shareholders of record as at February 27, 2015, which is the record date of the meeting.
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, fly ash as well as serpentine residues from chrysotile processing sites. Orbite is currently in the process of finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Quebec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallee deposit. The Company's portfolio contains 15 intellectual property families, including 15 patents and 98 pending patent applications in 11 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, Japan and Russia. The Company also operates a state of the art technology development center in Laval, Quebec, 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 Company 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 Company 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 Company'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 5, 2014 on SEDAR.
The Company 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.
Contacts:
TMX EQUICOM
Marc Lakmaaker
External Investor Relations Consultant
1-800-385-5451 ext. 248
mlakmaaker@tmxequicom.com
For Media Inquiries:
TMX EQUICOM
Scott Anderson
External Media Relations Consultant
1-800-385-5451, ext. 252
sanderson@tmxequicom.com
