Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF) announced it plans to complete a private placement for up to $5,000,000. Each $5,000 unit is comprised of 1,156 flow-through shares at $3.25 each, and 478 non flow-through shares at $2.60 each.
As quoted in the press release:
Each $5,000 unit is made up of: i) 1,156 flow-through class “A” shares at $3.25 each; and, ii) 478 non flow-through class “A” shares at $2.60 each. Euro Pacific Canada Inc. will be acting as lead agent and sole bookrunner for the Unit Offering, which is also expected to close on or before December 21, 2012.
Orbite Aluminae Inc. President and CEO, Richard Boudreault said:
This financing enables Orbite to accelerate the geological exploration of its properties across the Gaspé region of Quebec and in Nova Scotia with the goal of diversifying our potential mine sites feeding our upcoming SGA and HPA plants.