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Crown Land Lease Approved for the Development and Operation of Spaceport Nova Scotia

·4-min read

CANSO, Nova Scotia, August 18, 2022--(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 land to develop and operate Spaceport Nova Scotia.

The Company is leasing approximately 334.5 acres of crown land near the rural communities of Canso, Little Dover and Hazel Hill.

"Acquiring the land lease is a huge milestone for Maritime Launch and the development of Spaceport Nova Scotia," says Stephen Matier, President and CEO, Maritime Launch Services. "This land lease cements Nova Scotia’s place as a leader in Canada’s growing space industry. We’re 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 a 20-year term with an option to renew for another 20 years, should the Company comply with the terms and conditions outlined in the lease. The purpose of the lease is to use the Crown Lands for the development of a private commercial space launch site consisting of a horizontal integration facility, launch pad, and related infrastructure to support launch activities.

About Maritime 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 clients in support of the growing commercial space transportation industry over a wide range of inclinations. The development of this facility will allow for medium class launch vehicles to place their satellites into low-earth orbit. This will be the first commercial orbital launch complex in Canada.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220818005730/en/

Contacts

Maritime Launch Services
Sarah McLean, Vice President of Communications and Corporate Affairs
sarah.mclean@maritimelaunch.com
www.maritimelaunch.com
902.402.6947