Orbite Technologies Inc. announced that, further to its press release issued on April 27, 2016, Investissement Quebec has concluded with Orbite a $4.9 million bridge loan collateralized against the company's investment tax credits receivable (ITC) for the 2016 financial year which are expected to total $6.5 million. A first installment of $2.3 million has been received to date, while the balance of the loan will be disbursed as the capital expenditures underlying the ITC's are expended by the company. The bridge loan bears interest at a rate of 3.5% over the prevailing prime lending rate, which currently stands at 2.7%, payable monthly, is collateralized against the company's ITC receivables for the 2016 financial year and is repayable upon receipt by the company of the 2016 ITC payments from tax authorities, but not later than July 23, 2018. The loan is also subject to other customary terms and conditions.