Orbite Announces Filing of Final Short Form Prospectus

MONTREAL, QUEBEC--(Marketwired - Nov. 29, 2013)

Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation") announced today that, further to its press release dated November 8, 2013, it has filed a final short form prospectus (the "Prospectus") which was receipted by the securities regulatory authorities in Quebec, Ontario, Alberta and British Columbia, in connection with the "best efforts" marketed offering of Units comprised of Convertible Unsecured Debentures and Share Purchase Warrants of Orbite (the "Offering").

As a result of today's Prospectus filing, the Offering is expected to close on or about December 9, 2013.

The Corporation anticipates raising minimum gross proceeds of C$10 Million and maximum gross proceeds of C$16 Million, at a price of C$1,000 per unit. Each Unit consists of $1,000 principal amount of 7.5% unsecured unsubordinated debentures (the "Debentures") convertible into shares at a price of $0.465 per share, and 753 share purchase warrants (the "Warrants") of the Corporation. The Debentures and Warrants are subject to the terms and conditions described in the Prospectus. The Corporation has granted the Agent an option, for a period of 30 days from the closing date, to purchase a number of additional Units equal to 15% of the number of Units issued under the Offering.

The Corporation also secured a binding subscription commitment for $40 million in additional units, in additional funding from Crede Capital Group ("Crede"), a U.S. based institutional investor, upon the terms and conditions described in the Prospectus and to be completed subsequent to closing of the Offering via private placement. Crede has also agreed to purchase $10 million of Units under the Offering.

The net proceeds from the Offering will be used to complete the Corporation's high-purity alumina plant located in Cap-Chat, Quebec, and for general corporate and working capital purposes.

Information provided in this press release is entirely qualified by the disclosure provided in the Prospectus, a copy of which is available on the SEDAR website at www.sedar.com.