MONTREAL, QUEBEC — (Marketwire) — 10/13/11 — Exploration Orbite VSPA Inc. („Orbite“ or the „Company“) (TSX VENTURE: ORT.A) is pleased to announce that effective at the open of markets on October 17, 2011, the Company will be re-named „Orbite Aluminae Inc.“. The name change will not impact the Company-s organizational structure or day-to-day operations.
„The new name Orbite Aluminae reflects more accurately Orbite-s current activities as an alumina extraction company,“ said Richard Boudreault, President and CEO.
The Company is also pleased to announce that the Toronto Stock Exchange („TSX“) has issued final approval of the listing of the Company-s class A shares on the TSX. Starting Monday October 17, 2011, the Company-s shares will begin trading on the TSX under the ticker symbol „ORT“. Orbite has made an application to the TSX Venture Exchange („TSX-V“) to voluntarily delist its class A shares from the TSX-V, such delisting to be effective as of the date the Company-s shares commence trading on the TSX. The Company-s new cusip is 68558C106.
„Orbite achieved a number of critical steps in the past months, our listing on the TSX is another important milestone in the growth of the Company and reflects positively of our growth and credibility,“ added Richard Boudreault.
Jennings Capital Initiates Coverage of Orbite
Orbite is also pleased to announce that Jennings Capital analysts, Ken Chernin, MBA and associate Bill Mantzoutsos, MBA, are initiating coverage of Orbite in a report entitled „Initiating Coverage; Poised To Revolutionize the Aluminum Industry “ and dated October 7, 2011. Orbite is already covered by Mackie Research Capital Corporation and M Partners and this new coverage initiated by Jennings Capital will contribute to strengthen the Company-s visibility. The full report is available at .
About Orbite
Orbite (pronounced „Or-bit“) owns 100% of the mining rights on approximately 6,400 hectares of a Grande-Vallee property, the site of an aluminous clay deposit located 23 km to the south of Grande-Vallee, and a 28,000 sq. ft. full scale redundant line pilot plant in Cap Chat, in the Gaspe region. The NI 43-101 report issued in August 2011 has identified an Indicated Resource of about 1 billion tonnes of aluminous clay in part of the deposit. The Company also owns the intellectual property rights to a unique Canada and U.S.-patented process for extracting alumina from aluminous ores and for which patents are also pending in other countries.
Regulation 43-101 and forward-looking statements
The information and the analyses contained therein do not constitute any type of feasibility study or economic assessment within the meaning of Regulation 43-101 respecting standards of disclosure for mineral projects („Regulation 43-101“). No preliminary feasibility study, pre-feasibility study or feasibility study pursuant to the requirements of Regulation 43-101 has been completed to date.
Certain information and statements contained herein constitute forward-looking statements. 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 are based on information available at the time and/or Exploration Orbite-s 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 Annual Information Form entitled „Risk Factors“, and could cause actual events or results to differ materially from those projected in any forward-looking statements.
Readers are invited to consult the Report on the Geological Study prepared in conformity with Regulation 43-101 and the Annual Information Form of the Corporation, both amended and restated and respectively filed on August 21 and 25, 2011 available at or on the Company-s website at . The resulting technical report in no way alters technical and mineral disclosure or conclusions provided in the initial report.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: MEDIA Frederic Berard Vice-President HKDP Communications and public affairs 514-395-0375, ext. 259
ORBITE Jacques Bedard Vice-President Finance and Chief Financial Officer Orbite Aluminae 514-744-6264
INVESTOR RELATIONS Louis Morin Investor Relations 514-591-3988
Jason Monaco Managing Partner First Canadian Capital Corp. 416-742-5600
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