MONTREAL, QUEBEC--(Marketwired - May 13, 2013) - Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Company") announces that the Convertible Debentures (the "Debentures") issued in December 2012, will begin trading today.
The Debentures will begin trading today at the market open on the Toronto Stock Exchange ("TSX") under the symbol ORT.DB (see TSX Bulletin 2013 0468).
On December 13, 2012, Orbite announced the completion of a $25 million secured convertible debenture offering. The Debentures were issued at a price of $1,000 per debenture; bear an interest rate of 8% calculated from the date of issue to be paid quarterly in arrears and mature on December 13, 2017. The Debentures are convertible in whole at the holder's option into common shares at a conversion price of $3.50 per share at any time prior to the maturity date.
Further details on the Debentures are provided in the Trust Indenture, which was filed on December 17, 2012 under the Company's profile on www.sedar.com.
Orbite Aluminae Inc. is a Canadian company with innovative and proprietary processes that can 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 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 using clay mined from its Grande-Vallee deposit. Orbite signed an exclusive worldwide collaborative agreement with Veolia Environmental Services for the remediation of red mud, with the intent to begin construction of a Veolia-operated plant. The Company owns the intellectual property rights to nine patents and 32 pending patent applications in 10 different countries. Its intellectual property portfolio now contains 14 intellectual property families.
For more information on the Company or to download our corporate presentation please visit: www.orbitealuminae.com
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 May 8, 2013 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.