Approval of Crown land lease for the development and operation of Spaceport Nova Scotia

CANSO, Nova Scotia–(BUSINESS WIRE)–Today, Maritime Launch Services (Nova Scotia) Ltd. (NEO: MAXQ) is pleased to announce that the company has signed a Crown land lease with the Province of Nova Scotia for the development and operation of Spaceport Nova Scotia.

The Company leases approximately 334.5 acres of public land near the rural communities of Canso, Little Dover and Hazel Hill.

“The acquisition of the ground lease is an important milestone for Maritime Launch and the development of Spaceport Nova Scotia,” said Stephen Matier, President and CEO, Maritime Launch Services. “This ground lease cements Nova Scotia’s place as a leader in Canada’s growing space industry. We are excited to build Spaceport Nova Scotia, but even more excited to build our team in Canso, Hazel Hill and Little Dover, creating good jobs in the growing space sector.”

The lease granted by the Province of Nova Scotia is for a term of 20 years with an option to renew for another 20 years, if the Company complies with the conditions set out in the lease. The purpose of the lease is to use Crown land for the development of a private commercial space launch site consisting of a horizontal integration facility, launch pad and associated infrastructure to support launch activities.

About Sea Launch Services

Maritime Launch is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to customers in support of the growing commercial space transportation industry across a wide range of inclinations. The development of this facility will allow medium-class launchers to place their satellites in low Earth orbit. It will be the first commercial orbital launch complex in Canada.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of applicable securities laws. Any 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 “anticipates”, “expects” or “does not expect”, “is expected”, ” budget”, “planned”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or may contain statements that certain actions, events or results “could”, “could”, “would”, “could” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking statements contained herein include, but are not limited to, statements regarding: the Spaceport construction schedule and the ability to launch mid-range vehicles.

The forward-looking statements contained in this press 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; the 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 maintained.

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 to limit therein: the Company’s potential inability to continue as an ongoing operation; the risks associated with possible governmental and/or regulatory measures concerning the activities of the Company; the inability of the Company to provide the listed services; and launcher availability.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management when prepared, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this press 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 differences between subsequent actual events and such forward-looking information, except as required by applicable law.

Comments are closed.