Orbite Completes $5 Million Private Placement

Orbite Aluminae Inc. has completed the previously announced brokered private placement of units for an aggregate amount of $5,000,000 and that the private placement was again oversubscribed. Each unit was priced at $5,000 and was comprised of 1,156 class "A" shares issued on a flow-through basis at $3.25 each and 478 non flow-through class "A" shares at $2.60 each. The Company intends to use the net proceeds from the Unit Offering for Canadian Exploration Expenses at its Grande-Vallée, Cap-Chat, Rimouski and Chaswood (Nova Scotia) properties and for general corporate purposes.

"This financing enables Orbite to accelerate the exploration of its properties across the Gaspé and Quebec City regions of Quebec and in Nova Scotia with the goal of diversifying our potential mine sites feeding multiple SGA and HPA plants at various locations," said Richard Boudreault, President and CEO of Orbite.

Euro Pacific Canada Inc. acted as lead agent and sole book-runner to the Unit Offering and received a commission equal to 5.0% of the gross proceed and 49,020 broker warrants. Each broker warrant is exercisable into one class "A" share of the Company for a period of 24 months from the closing of the Unit Offering at a price of $2.60 per class "A" share.

Orbite Aluminae Inc. is a Canadian cleantech company whose innovative technologies are setting the new standard for alumina production.