March 15 (Reuters) - Orbite Technologies Inc ORT.TO
* May postpone certain activities, which will push back
start of commercial production into Q2 of 2016
* Provides update on HPA plant costs, completion and
commissioning
* Orbite Technologies says co's current financial resources
are insufficient to cover such additional construction costs
* Exploring financing alternatives, such as leveraging its
$5.6 million of 2016 investment tax credits as security for a
non-dilutive bridge loan
* Orbite Technologies says capital costs initially projected
must be increased by about $9.9 million
* Will push back start of commercial production into Q2 of
2016 instead of Q1 as previously contemplated
* Current financial resources insufficient to cover
additional construction costs; currently exploring financing
alternatives
* Revised total external capital cost budget of project is
now $56.2 million up from $46.3 million previously contemplated
Source text for Eikon: ID:nMKW4Nwcla
Further company coverage: ORT.TO