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.”
About Maritime Launch Services
Maritime Launch (Cboe CA: MAXQ, OTCQB: MAXQF) 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 clients in support
of the growing commercial space transportation industry over a wide
range of inclinations from a single site. Spaceport Nova Scotia
will allow launch vehicles to place their satellites into low-earth
orbit. Spaceport Nova Scotia is Canada’s first commercial orbital
launch complex.
For more information about Maritime Launch and Spaceport Nova
Scotia, visit www.maritimelaunch.com
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.
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 placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those
anticipated.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240802767369/en/
Maritime Launch Services Sarah McLean Vice President of
Communications and Corporate Affairs
sarah.mclean@maritimelaunch.com www.maritimelaunch.com
902.402.6947