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Orbite Aluminae Inc. (TSX:ORT) announced that it has filed a preliminary short form base prospectus for the company. In doing this, Orbite Aluminae is increasing it’s financial flexibility.This filing will provide flexibility to fund its projects over the 25-month period that the prospectus is effective.
Orbite Aluminae Inc. (TSX:ORT) announced that it has filed a preliminary short form base prospectus for the company. In doing this, Orbite Aluminae is increasing it’s financial flexibility.This filing will provide flexibility to fund its projects over the 25-month period that the prospectus is effective.
As quoted in the press release:
These filings, when made final, will allow the Company to make offerings of debt securities, common shares, warrants, subscription receipts or units comprising any combination of the foregoing (all of the foregoing, collectively, the “Securities”), up to an aggregate offering of $300,000,000 during a 25-month period that the final short form base shelf prospectus, including any amendments thereto, remains effective. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an eventual accompanying shelf prospectus supplement and, subject to applicable regulations, may include public offerings of debt or equity, or strategic investments.
Orbite Aluminae, President and CEO, Richard Boudreault, commented:
Orbite is still a development-stage company with multiple projects, each with different capital requirements over the next two years. Once filed, this shelf prospectus will increase the Company’s financial flexibility to fund our projects in a timely and effective manner during the next 25-months.
Click here to read the Orbite Aluminae Inc. (TSX:ORT) press release
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