Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF) announced the oversubscription and completion of the previously announced brokered private placement of units for an aggregate amount of $5,000,000.
As quoted in the press release:
Each unit was priced at $5,000 and was comprised of 1,156 class “A” shares issued on a flow-through basis at $3.25 each and 478 non flow-through class “A” shares at $2.60 each.
Orbite Aluminae President and CEO Richard Boudreault said:
This financing enables Orbite to accelerate the exploration of its properties across the Gaspé and Quebec City regions of Quebec and in Nova Scotia with the goal of diversifying our potential mine sites feeding multiple SGA and HPA plants at various locations.