Orbite increases and extends Underwriter's Option

Orbite Technologies Inc. has announced further to its press releases dated February 3 and February 23, 2016, the closing of its public offering of units in the aggregate amount of $9,542,000. The company has revised the terms of the underwriter's option (the "Underwriter's Option"), whereby the number of additional units that the underwriter, Euro Pacific Canada Inc., may purchase for resale is increased by 1,762 units to a total of 7,762 units.

The underwriter purchased 1,544 additional units on February 3, 2016 and 1,060 on February 23, 2016. In addition to the foregoing amendment, the Underwriter's Option, which was set to expire tomorrow, is extended and may now be exercised until close of business on April 15, 2016.

The 1,762 additional units, and the underlying debentures and share purchase warrants, shall have the same terms and conditions as those previously issued.

The company has filed an amendment to the prospectus supplement dated January 28, 2016 and has executed and filed an amending agreement to the underwriting agreement also dated January 28, 2016.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.