Government of Canada commits support for commercial space launch

Breaking ground on Spaceport Nova Scotia was a clear signal to the global space sector that Canada would soon have global launch capabilities – and satellite companies from around the world have since signaled their strong demand to launch from Nova Scotia. Maritime Launch has satellite client multi-launch term sheets, a long list of launch vehicle companies across North America and Europe looking to partner, and now, the support of the Government of Canada. With today’s announcement, the global space industry can be confident that commercial launch in Canada is not only here, but it has this government’s support. It’s time to launch Canadian space innovation from Canada and welcome the world to Canso, Nova Scotia for commercial launch.

-- said our CEO Steve Matier

Maritime Launch Services Inc. (NEO: MAXQ, OTCQB: MAXQF) (Maritime Launch or “the Company”), owner and operator of Canada’s first and only commercial spaceport, Spaceport Nova Scotia, applauds the Government of Canada’s announcement today to support commercial space launch activities in Canada.

The Government of Canada’s comprehensive support includes the modernization of regulatory requirements, safety standards and licensing conditions necessary for commercial space launch in Canada.

“This is a great day for Canada. This announcement signals a bold move to claim our rightful place as a global space leader,” said Stephen Matier, CEO of Maritime Launch Services. “We are pleased that today’s news follows closely on the heels of significant momentum for Maritime Launch in 2022. Construction of Spaceport Nova Scotia – North America’s only commercial launch facility – is now underway and we are excited to continue our work with Transport Canada, the Canadian Space Agency and all other federal departments and agencies to bring the promise of today’s announcement to reality.”

Purpose built commercial launch regulations will enable Canada to launch domestic and globally produced satellites and technologies that inform and provide solutions to pressing challenges including bringing broadband to rural communities and providing data to fight climate change.

Maritime Launch received environmental assessment (EA) approval from the Province of Nova Scotia in 2019 and received approval to begin construction of Spaceport Nova Scotia in September 2022. Construction of the spaceport is now underway on 300 acres of crown land under a 40-year lease from the province.

Forward Looking Statements 

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.   

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the timing of spaceport construction and ability to launch medium class vehicles.  

Forward-looking statements in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the Company’s ability to continue to develop revenue-generating applications; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company’s ability to finance its operations until profitability can be achieved and sustained.   

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s operations; the inability of the Company to provide the enumerated services; and availability of launch vehicles.      

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Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.