Deal sells stock at C$0.241 per share to fund HPA production facility
By Devika Patel
Knoxville, Tenn., May 6 – Orbite Technologies Inc. said it has completed a C$1.03 million non-brokered private placement of stock.
The company sold common shares at C$0.241 per share. The price per share is a 10.74% discount to the closing share price on May 5, C$0.27.
Proceeds will be used to complete the company's HPA production facility.
Based in Montreal, Orbite Technologies is a clean technology company specializing in extracting processes for the mining industry, especially alumina extraction.
| Issuer: | Orbite Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | C$1,027,850
|
| Price: | C$0.241
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 6
|
| Stock symbol: | Toronto: ORT
|
| Stock price: | C$0.27 at close May 5
|
| Market capitalization: | C$109.56 million
|
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