LONGUEUIL, Quebec (CSA PR) — In a country as vast as Canada, observing Earth from space helps our government monitor and protect the environment and the North, manage our natural resources, and ensure the safety and security of Canadians.

VANCOUVER, BC, Sept. 4, 2020 (UrtheCast PR) – UrtheCast Corp. (TSX: UR) (“UrtheCast” or the “Company”) was granted an initial order (the “Initial Order”) today pursuant to the Companies’ Creditors Arrangement Act (the “CCAA”) by the Supreme Court of British Columbia on application by the Company seeking court protection from its creditors to allow it to pursue a restructuring of its business and property as a going concern.

The Canadian Space Agency (CSA) has awarded 14 contracts worth just over CAD $9 million (US $6.6 million) to eight companies under its Space Technology Development Program (STDP).

MacDonald, Dettwiler and Associates (MDA) received a total of six contracts worth CAD $3.5 million (US $2.6 million). COM DEV of Cambridge, Ont., received a pair of contracts worth nearly CAD $1.6 million (US $1.1 million). And UrtheCast of Vancouver received a contract worth $999,916 (US $736,131).

“As part of a competitive process, proposals are selected based on the applicant’s (mainly industry) capacity to advance the development of specific space technologies for which they receive financial support of up to 75% of their project cost,” CSA said on its website.

The space agency plans to award additional contracts under the STDP. Details of the awards are below.

VANCOUVER (UrtheCast PR) – UrtheCast Corp. (TSX: UR) (“UrtheCast” or the “Company”) is pleased to provide an update with respect to closing the acquisition of Geosys Technology Holding LLC, securing a US$12 million term loan and other corporate updates.

Closing of Geosys Acquisition

UrtheCast is pleased to announce the acquisition (the “Geosys Acquisition”) of Geosys Technology Holding LLC (“Geosys”) from Land O’ Lakes, Inc. (“Land O’Lakes”). The total purchase price for the Geosys Acquisition is US$20 million payable in three installments. The first installment of US$5 million was paid to Land O’Lakes on the closing of the Geosys Acquisition today, US$5 million is payable on October 14, 2019 and the balance of US$10 million is payable upon the transfer of certain intellectual property from Land O’Lakes prior to April 13, 2021. As part of the first closing, UrtheCast entered into a new 13-year agreement to provide Land O’Lakes with certain services currently provided by Geosys to Land O’Lakes with total annual fees payable to UrtheCast in excess of US$10 million per year, and an increased rate at such time as the UrtheDaily Constellation is operational.
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UrtheCast says it is close to securing financing to launch a constellation of satellites capable of acquiring daily high-quality, multispectral imagery of locations taken at the same time from the same altitude. Further to the update provided during its third quarter earnings release on November 14, 2017, the Company has evaluated multiple opportunities and selected an institutional investor with which it has entered into an exclusivity agreement on December 15, […]

VANCOUVER, BC (UrtheCast PR) – UrtheCast Corp. (TSX:UR) (“UrtheCast” or the “Company”), and Twenty First Century Aerospace Technology Co. Ltd (“21AT”), China’s largest independent commercial satellite operator and non-governmental investor in remote sensing satellite systems, today announced a long-term strategic partnership to acquire geospatial data from the UrtheDaily^TM Constellation, UrtheCast’s planned constellation of Earth observation satellites which will deliver daily, medium resolution imagery of the entire planet’s landmass, excluding Antarctica.

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MADRID, Spain (UrtheCast PR) – UrtheCast Corp. and its subsidiary, the Earth Observation company Deimos Imaging, today announced the signing of a strategic cooperation agreement with Beijing Space View Technology Co. Ltd. (“Space View”), a leading provider of remote sensing satellite data and geospatial information services based in China, for the mutual global distribution of their respective product portfolios.

The space assets of Deimos Imaging and Space View include Deimos-1, Deimos-2 and the satellite SuperView constellation, of which currently 2 satellites have been launched, with the next two to be launched at the end of 2017, resulting in a wide portfolio of medium, high and very high-resolution satellites. These assets are complementary and are expected to provide customers with an exceptional level of decision making data, and to create unique and valuable benefits across a diverse group of sectors while strengthening the positions of both companies in their respective markets.

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SURREY, England (SSTL PR) — A signed contract for the Earth Observation satellites for the UrtheDailyTM Constellation was announced today by Surrey Satellite Technology Ltd (SSTL) and UrtheCast of Canada.  The UrtheDailyTM Constellation, planned for launch in 2020, will be capable of scientific-grade quality, multispectral imagery, high-resolution, targeted specifically at geoanalytics applications. The UrtheDailyTM spacecraft are based on the SSTL-250 platform and will be built by SSTL at its facilities […]

VANCOUVER, Aug. 14, 2017 (UrtheCast PR) — UrtheCast Corp. (TSX:UR) (the “Company”) announced today that it has entered into a contract with a confidential customer for the development and delivery of a dual-frequency stand-alone Synthetic Aperture Radar (SAR) operational-class satellite as an “accelerator” for the OptiSAR^TM Constellation.

The exact amount of the contract is not being disclosed at this time for confidentiality and competitive reasons, but the Company can confirm that it is a substantial contract worth in excess of one hundred million Canadian dollars.

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Bryce Space and Technology has produced a new report, Start-up Space: Update on Investment in Commercial Space Ventures.

Below is the executive summary. You can also download the full report.

Executive Summary

The Start-Up Space series examines space investment in the 21st century and analyzes investment trends, focusing on investors in new companies that have acquired private financing. Space is continuing to attract increased attention in Silicon Valley and in investment communities world-wide. Space ventures now appeal to investors because new, lower-cost systems are envisioned to follow the path terrestrial tech has profitably traveled: dropping system costs and massively increasing user bases for new products, especially new data products. Large valuations and exits are demonstrating the potential for high returns.
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