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Gold/Mining/Energy : Orbite Aluminae

EORBF 0.000320

0.0%

Jan 9 9:30 AM EST

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From: Sultan	4/17/2017 11:35:52 AM
	of 6560

TSX to De-List Orbite's Securities as a Result of the Company Having Filed a Notice of Intention to Make a Proposal MONTREAL, QUEBEC--(Marketwired - April 17, 2017) - Orbite Technologies Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") has been advised by the Toronto Stock Exchange (the "TSX") that it will de-list the Company's securities effective as of the close of business on May 16, 2017 for failure to meet the continued listing requirements of the TSX. The Company's securities will remain suspended from trading until that time. The Company is currently subject to creditor protection under the provisions of the Bankruptcy and Insolvency Act ("BIA") after having filed a Notice of Intention to make a proposal (the "NOI") on April 3, 2017. The Company's goal remains to put in place the required financing to emerge from insolvency protection and protect the interests of all stakeholders, including its shareholders. Orbite is currently in discussions with its secured creditors and other financial partners as well as with its calcination equipment supplier Outotec to resolve the present situation and meet again the listing requirements of the TSX. There can be no guarantees that the Company will be successful in securing the required financing, resolving the present situation, achieving its restructuring objectives and reinstating the listing of its securities on the TSX or listing them on any other stock exchange.

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