Orbite Announces Filing of Final Short Form Prospectus

MONTREAL, QUEBEC--(Marketwired - July 16, 2013) -

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Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation") announced today that it has filed a final short form prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces of Canada, in connection with the "best efforts" marketed offering of class A shares and warrants of Orbite (the "Offering").

As a result of today's Prospectus filing, the Offering is now expected to close on or about July 22, 2013, subject to regulatory approvals.

The Corporation anticipates raising minimum gross proceeds of C$35 Million and maximum gross proceeds of C$50 Million, at a price of C$0.70 per unit, each unit consisting of one class A share and one-half class A share purchase warrant, each whole warrant being exercisable at an exercise price of C$1.00 for a period of 36 months following issuance (the "Units"). In addition, the Corporation has granted the Agents the option to purchase up to that number of additional Units as is equal to 15% of the number of Units issued under the Offering during the 30-day period immediately following the Closing Date. The Units will be offered in Canada by short form prospectus, and in other jurisdictions on a private placement basis, exempt from any prospectus, registration or other similar requirements.

The net proceeds from the Offering will be used primarily to complete the Corporation's high-purity alumina plant located in Cap-Chat, Quebec, and for general corporate and working capital purposes.