Press release from Marketwire
Orbite Announces Appointment of Executive Vice-President and Chief Operating Officer
Tuesday, May 07, 2013
Orbite Announces Appointment of Executive Vice-President and Chief Operating Officer09:08 EDT Tuesday, May 07, 2013
MONTREAL, QUEBEC--(Marketwired - May 7, 2013) - Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") today announced the appointment of Mr. Glenn R. Kelly as Executive Vice-President and Chief Operating Officer. The Company also announced a new Board of Directors committee, made changes to its Investor and Media Relations programs, and announced the date for the annual general meeting.
Executive Vice-President and Chief Operating Officer
Mr. Glenn R. Kelly will join Orbite in the newly created position of Executive Vice-President and Chief Operating Officer ("COO"), effective May 21, 2013. He will report to Richard Boudreault, President and Chief Executive Officer, while all other executive officers of the Company will report directly to Mr. Kelly.
"We are excited to add someone of Glenn Kelly's caliber to the Orbite management team," said Lionel Léveillé, Chairman of the Board of Directors. "The common thread throughout Glenn's diverse career is his proven ability to successfully execute on projects that have created significant value for stakeholders."
"Glenn brings a depth of experience in the design and construction of industrial facilities as well as in project management" said Richard Boudreault, President and Chief Executive Officer. "As Orbite moves forward with its high-purity alumina plant, and its proposed red mud remediation and smelter-grade alumina projects, we anticipate that Glenn's experience in operations management as well as his proven record in growing successful enterprises will be crucial to the Company's success."
Mr. Kelly joins Orbite from CO2 Solutions where he was president and CEO since August 2008. Mr. Kelly holds a degree in civil engineering from Queen's University and an MBA from Laval University.
Mr. Kelly is an accomplished executive with more than 25 years of broad resource sector experience. His background includes project management, stakeholder relations and corporate development in both the upstream and downstream sectors of the energy industry. Mr. Kelly has played key roles in the development of Quebec's natural gas industry, notably as founder and President of Intragaz Inc., an underground natural gas storage developer, as well as President of Rabaska Inc., a $1 billion liquefied natural gas terminal project. While at Rabaska, he was instrumental in negotiating LNG supply agreements with Russia's Gazprom. Prior to his career in Quebec, Mr. Kelly worked throughout Canada as a facilities and drilling engineer for Chevron Canada Resources of Calgary.
Commenting on his appointment, Mr. Kelly added, "I am extremely excited to be joining Orbite at such an important moment in its development. Orbite has developed an innovative and multifaceted breakthrough technology whose market potential is truly large. My role will be to assist Richard to execute on this potential".
As part of his remuneration package, Mr. Kelly will be granted 800,000 options to purchase Orbite common shares.
Board of Directors Committees
Orbite is committed to the continuous improvement of its management practices and as such has created a new Board of Directors Executive Committee and restructured the Disclosure Committee.
The new Executive Committee will assist the Company's executive officers in the advancement of Company projects. This Committee will consist of the following Board of Directors members: Lionel Léveillé (Committee Chairman), Stéphane Bertrand, Jean-Sébastien David and Pierre Meunier.
The Disclosure Committee, which includes executive officers, ensures the Company's adherence to continuous disclosure requirements. This committee will now consist of: Stéphane Bertrand (Director and Committee Chairman), Richard Boudreault (President and CEO), Glenn Kelly (EVP and COO), Jacques Bédard (CFO), Marc Johnson (VP Corporate Development), Marc Filion (Strategic Resource Advisor) and Jonathan Labranche (Director of Legal Affairs).
Investor and Media Relations
Following a review of its approach to investor and media relations programs, the Company is internalizing certain of these functions and has appointed TMX Equicom as its sole external investor relations and media consultant. As a result, Orbite would like to thank its former external consultants Louis Morin, Sun Communications, Darrow and Associates, and Stanton for their dedicated services.
TMX Equicom was established in 1996 and is a leading Canadian provider of investor relations and strategic corporate communications. Headquartered in Toronto, and with offices in Calgary and San Diego, TMX Equicom has a team of professionals providing strategic communications services to more than 120 public companies including micro- to large-cap issuers from a diverse cross-section of businesses listed on the TSX, the TSX Venture Exchange, NASDAQ, NYSE, AMEX, ASX and AIM.
Investors and media are invited to contact Orbite and TMX Equicom in French or English. Updated contact information is provided at the end of this press release.
Annual General Meeting
Orbite announces that it will hold its Annual General Meeting in Montreal on Thursday, June 20, 2013 (the "AGM"). The time and address of the location will be set forth in Orbite's Management Information Circular and Proxy Form for the AGM. The record date for the meeting will be May 15, 2013.
Orbite Aluminae Inc. is a Canadian company with innovative and proprietary processes that can produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, without generating any wastes, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently operating and optimizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec. A Feasibility Study for Orbite's first smelter-grade alumina (SGA) production plant, using clay mined from its Grande Vallée deposit, is anticipated in the first quarter of 2014, subject to securing sufficient funding for the study. Orbite signed an exclusive worldwide collaborative agreement with Veolia Environmental Services for the remediation of red mud using the Orbite processes with the intent to begin construction of a Veolia-operated plant in 2014. The Company owns the intellectual property rights to nine patents and 32 pending patent applications in 10 different countries. Its intellectual property portfolio now contains 14 intellectual property families.
For more information on the Company or to download our corporate presentation please visit:
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 28, 2013 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Vice-President, Corporate Development
514-744-6264, ext. 131
External Investor Relations Consultant
416-815-0700, ext. 267