Orbite receives $2 million installment of Quebec investment tax credits

Alumina News - General

Orbite Aluminae Inc. announced today that it has received from the Government of Quebec, a $2 million installment towards its 2012 and 2013 Quebec Investment Tax Credits, related to equipment purchased for manufacturing and processing in the Gaspe region during the 2012 and 2013 financial years.

The Company has to this date received an aggregate of $22.4 million of the $25.7 million of tax credits due to the Company related to the 2012 and 2013 financial years. These funds have been deposited in a segregated account and serve as security for the convertible debentures issued in 2012. The Company anticipates receiving the balance of its 2012 and 2013 investment tax credits during 2015.

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