Orbite Aluminae Joins OTCQX International and Begins Trading in the United States
MONTREAL, Sept. 10, 2012 /PRNewswire/ -- Orbite Aluminae Inc. (TSX: ORT) (OTCQX: EORBF) ("Orbite" or the "Company"), a leading provider of clean technology and developer of breakthrough alternative solutions for the alumina production industry, today announced that the Company will begin trading on the OTCQX International. Effective Monday, September 10, 2012, Orbite will trade on the OTCQX® under the symbol "EORBF."
By listing on the OTCQX, the world's largest electronic marketplace for broker-dealers to trade over-the-counter ("OTC") stocks and the OTC market's most prestigious tier, Orbite is increasing accessibility, gaining exposure, and providing even greater liquidity to investors in the United States.
"We are confident that trading on the OTCQX will enhance and extend Orbite's visibility as the Company continues to progress," said Richard Boudreault, President and CEO of Orbite Aluminae. "Our ability to significantly expand access to growing demand for alumina by providing producers with a more cost-effective and environmentally friendly extraction technology presents a very strong investment opportunity, which will now be available in the United States through our presence on the OTCQX."
OTC Markets Group, headquartered in New York City, provides price and liquidity information through its platforms to more than 160 broker-dealers for almost 10,000 OTC securities across three categories: OTCQX, OTCQB, and OTC Pink.
Orbite Aluminae Inc. is a Canadian clean tech company whose innovative technologies are setting the new standard for alumina production. Orbite technologies enable environmentally-neutral extraction of smelter-grade alumina (SGA), high-purity alumina (HPA) and high-value elements, including rare earths and rare metals, from a variety of sources such as aluminous clay and bauxite, without generating the toxic red mud residue that the traditional Bayer process produces. The Company owns ten different families of intellectual property rights (and patents pending) filed across the world for the extraction of alumina at the highest standards of sustainability. Orbite also owns exclusive mining rights over a total of 60,984 hectares, including the 6,665-hectare Grande-Vallee property, the site of an aluminous clay deposit in Quebec, Canada. An NI 43-101 compliant report dated May 30, 2012 identified over 1 billion tonnes of aluminous clay in part of this deposit. Orbite is currently converting its 2,600 m2 pilot plant in Cap-Chat, Quebec, Canada, into a full-scale high-purity alumina production facility, and expects this plant to be fully operational in early 2013. The Company also anticipates the launch of construction of its first SGA plant towards the end of 2013. Orbite plans to offer SGA and HPA products and to license its low processing cost technologies to well-qualified producers who want to reduce their environmental footprint. Orbite has recently entered into partnerships with the world's largest aluminum producer, UC Rusal.
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 March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. 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.
SOURCE Orbite Aluminae Inc.