Orbite Aluminae Receives Second Installment of Quebec Investment Tax Credits

Orbite Aluminae (TSX:ORT,OTCQX:EORBF) has received a $6.3 million second installment payment from its 2012 Québec Investment Tax Credits.

As quoted in the press release:

The funds were due to the Company in relation to equipment purchased for manufacturing and processing in the Gaspé region during the 2012 financial year.

As announced on July 22, 2014 on receipt of the first installment of $6.0 million, these funds will be 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 investment tax credits during the remainder of 2014, with payments for 2013 expected in 2015.

Click here to read the Orbite Aluminae (TSX:ORT) press release