HALIFAX, NOVA SCOTIA, May 12th, 2021 (Maritime Launch Services PR)—Maritime Launch Services Ltd. (“MLS” or the “Company”), owner of Canada’s first commercial spaceport, is pleased to announce that it has closed financing for gross proceeds of $10.5 million [US $8.67 million].

The financing was led by PowerOne Capital Markets Limited and Primary Capital Inc. The proceeds of this financing will enable MLS to achieve first flight heritage in 2022 of a small class launcher and mature the site and the Cyclone 4M medium class launch vehicle for launch in 2023 from its state-of-the-art complex near Canso, Nova Scotia.  With construction to begin this fall, Maritime Launch’s commercial launch complex will be the first of its kind in Canada.