Orbite Aluminae Provides Financing Update

Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF), a cleantech company currently commercializing its high-purity alumina process, released a general update on previously announced financing activities.

The company said that the change in provincial government following recent elections in Quebec should not affect the finalization of an equity investment by the Government of Quebec in Orbite.

As quoted in the press release:

Additionally, in accordance with the subscription agreement between Orbite and Crede Capital Group, LLC (“Crede”), Orbite issued Series X and Y Subscription Rights on March 11, 2014, as announced previously. Once exercisable, the Series X Subscription Rights require Crede to purchase $10 million of debentures of the Corporation. Orbite expects to obtain qualification by prospectus and have the units exercisable around May 15, 2014, subject to regulatory approval.

Click here to read the Orbite Aluminae Inc. (TSX:ORT) press release.