Maritime Launch Services Congratulates the Government of Canada on the Conclusion of Space Launch Treaty Negotiations with the United States

FOR IMMEDIATE RELEASE

Halifax, Nova Scotia, August 2, 2024 – Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) (“The Company”) congratulates the Government of Canada on concluding negotiations on a Technology Safeguard Agreement (TSA) with the United States. This landmark government-to-government treaty represents a significant milestone for the Canadian space industry, particularly launch, and paves the way for enhanced collaboration, innovation, and security in space technology between the two nations.

The TSA establishes a framework for the protection of sensitive technologies and intellectual property, including launch vehicles and satellites, ensuring that both countries can collaborate on space-related projects while maintaining the highest standards of security and compliance. This agreement not only strengthens the strategic partnership between Canada and the United States but also opens new avenues for growth and development within the Canadian commercial space sector by allowing US technology to be launched to space from Canadian soil.

Maritime Launch is building Spaceport Nova Scotia, Canada’s first and only commercial spaceport located near Canso, Nova Scotia. In 2023, Maritime Launch conducted a first suborbital launch from Nova Scotia and the Company has plans for a first orbital launch in early 2026.

“This is a major step forward for the growth of Canada’s commercial space industry,” says Stephen Matier, President and CEO, Maritime Launch Services. “As we finalize the construction of Spaceport Nova Scotia, we will ensure our spaceport meets the compliance requirements and all of the unique needs of our launch vehicle clients based in the US and their global satellite customer base. We look forward to welcoming our American clients to Nova Scotia in the coming months as we prepare for Canada’s first orbital launch from Spaceport Nova Scotia in 2026”.

As a leading player in the Canadian commercial space industry, Maritime Launch Services recognizes the profound impact this agreement will have on the future of commercial launch, space exploration and technology development in Canada. By fostering a secure and collaborative environment, the TSA will enable Canadian companies, like Maritime Launch, to participate more actively in global space initiatives, driving economic growth.

“Cape Breton—Canso is currently at the forefront of so many emerging industries and economic opportunities — and today we move closer toward the final frontier, commercial spaceflight,” said Mike Kelloway, Member of Parliament for Cape Breton—Canso. “We are proud to be home to Canada’s first commercial spaceport, and our government is proud to announce this agreement with the United States to expand our nation’s capabilities within this new sector.”

Since the company was created in 2016, Maritime Launch’s mission has been to provide reliable and cost-effective access to space for commercial and international government customers. With the TSA in place, Maritime Launch is poised to attract international partnerships, drive technological advancements in the space sector, and bring significant direct foreign investment and economic opportunity to Nova Scotia and Atlantic Canada.

"The Canadian space sector is driven by innovation and growth,” says François-Philippe Champagne, Minister of Innovation, Science and Industry. “Today’s announcement represents a major milestone that will pave the way for a thriving commercial space launch industry in Canada. This development not only enhances the sector’s diversity but also strengthens its global competitiveness, reinforcing Canada’s position as a leader in space exploration and technology."

Maritime Launch looks forward to leveraging the opportunities within the TSA and collaborating closely with Canada’s largest trading partner, the United States. The Company is well positioned to drive progress and position Canada as a global leader in space exploration and technology, bringing socio-economic benefits to our local communities, Nova Scotians, and all Canadians through job creation, space industry growth, and enhanced domestic launch capabilities.

“The achievements in Canada’s space sector have long been an inspiration for all Canadians. Maritime Launch here at home in Nova Scotia is a tremendous example,” said Sean Fraser, Minister of Housing, Infrastructure and Communities and Member of Parliament for Central Nova. “I am proud to stand with them today as we take this huge step forward – a step that will bring new economic opportunities, create new jobs, support national security, and encourage innovation and research.

The Government of Canada Release can be found here.