Orbite Receives $2 Million Installment of Quebec Investment Tax Credits
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 05/05/15 -- Orbite Aluminae Inc. (TSX: ORT)(OTCQX: EORBF) ("Orbite" or the "Company") 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.
About Orbite
Orbite Aluminae Inc. is a Canadian clean technology based mineral-processing and resource development company whose innovative and proprietary processes are expected to produce alumina and other high-value 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, fly ash as well as serpentine residues from chrysotile processing sites. Orbite is currently in the process of finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Quebec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallee deposit. The Company's portfolio contains 15 intellectual property families, including 15 patents and 102 pending patent applications in 11 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, Japan 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, the information and any 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 March 31, 2015. 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.
Contacts:
TMX EQUICOM
Marc Lakmaaker
External Investor Relations Consultant
1-800-385-5451 ext. 248
For Media Inquiries:
TMX EQUICOM
Scott Anderson
External Media Relations Consultant
1-800-385-5451, ext. 252
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.05.2015 - 11:30 Uhr
Sprache: Deutsch
News-ID 390820
Anzahl Zeichen: 0
contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 132 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Orbite Receives $2 Million Installment of Quebec Investment Tax Credits"
steht unter der journalistisch-redaktionellen Verantwortung von
Orbite Aluminae Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
