Orbite Announces Changes to President and Chief Executive Officer Position and to its Board of Directors
February 17 2014 - 12:34PM
Marketwired
Orbite Announces Changes to President and Chief Executive Officer
Position and to its Board of Directors
MONTREAL, QUEBEC--(Marketwired - Feb 17, 2014) - The Board of
Directors of Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite"
or the "Company") announced that Mr. Glenn Kelly, previously
Executive Vice-President and Chief Operating Officer of the
Company, has been named President and Chief Executive Officer.
Mr. Richard Boudreault is stepping down from the position of
President and Chief Executive Officer of the Company and has
resigned as director of the Company effective immediately. Mr.
Boudreault will remain available to the Company as a consultant for
6 months.
About Orbite
Orbite Aluminae Inc. is a Canadian cleantech company whose
innovative and proprietary processes are expected to 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, and
in a sustainable fashion, using feedstocks that include aluminous
clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is
currently finalizing its first commercial high-purity alumina (HPA)
production plant in Cap-Chat, Québec and has completed the basic
engineering for a proposed smelter-grade alumina (SGA) production
plant, which would use clay mined from its Grande-Vallée deposit.
The Company's intellectual property portfolio contains 15
intellectual property families, and the Company owns the
intellectual property rights to 11 patents and 57 pending patent
applications in 10 different countries and regions. The first
intellectual property family is patented in Canada, USA, Australia,
China, and Russia. The Company also operates a state of the art
technology development center in Laval, Quebec, where its
technologies are developed and validated.
Forward-looking statements
Certain information contained in this document may include
"forward-looking information". Without limiting the foregoing,
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 November 14, 2013 on
www.sedar.com.
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.
Medias: TACT Intelligence-conseilMathieu Lavallee, External
Media Relations Consultant514 667-0196, poste
411mlavallee@tactconseil.caInvestor Relations (today)Orbite
Aluminae Inc.514 744-6264, ext. 140info@orbitealuminae.comInvestor
Relations (as of tomorrow, February 18, 2014)TMX EQUICOMMark
Lakmaaker, External Investor Relations Consultant1-800-385-5451
ext. 248mlakmaaker@tmxequicom.comFor Media Inquiries (as of
tomorrow, February 18, 2014)TMX EQUICOMShaun Smith, External Media
Relations Consultant1- 800-385-5451, ext.
252ssmith@tmxequicom.com
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