Maritime Launch Announces the Engagement of Clarus Securities Inc.

Rhea-AI Summary

Maritime Launch Services Inc. engages Clarus Securities Inc. for capital markets and strategic advice, aiming to support growth and innovation in the commercial space launch industry. The Corporation issues 3,500,000 common shares to Clarus at $0.12 per share as a work fee.

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (“Maritime Launch” or the “Corporation”) (Cboe CA: MAXQ, OTCQB: MAXQF) developer of Canada’s first commercial spaceport, Spaceport Nova Scotia, is pleased to announce the non-exclusive engagement of Clarus Securities Inc. to provide capital markets and strategic advice related to the Corporation’s capital markets strategy and other growth initiatives. Services include advice on the structure of equity or debt capital financing and the identification of potential future investors.

“Leveraging the counsel of Clarus Securities will support our team in the execution of Maritime Launch’s growth strategy this year and next”, says Stephen Matier, President and CEO, Maritime Launch. “Clarus has a unique understanding of our business coupled with a deep expertise of capital markets, allowing us to unlock new opportunities for growth and innovation in the commercial space launch industry.”

Clarus advises Canadian emerging growth companies. Canada’s space sector is growing exponentially and well positioned to be a global leader. A recent report by Euroconsult entitled “Beyond the Stars”, estimated that the global space economy generated over US $500 billion of economic value in 2023.

Pursuant to an engagement letter between the Corporation and Clarus, the Corporation has agreed to issue 3,500,000 common shares at an issue price of $0.12 per share to Clarus as a work fee. Additional fees would be paid on any equity or debt capital financing raised by Clarus.

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 the widest range of launch inclinations available anywhere in North America, from a single site. The development of this facility will serve the constellation market clients delivering global broadband, near earth imaging and other science related activities. This will be the first commercial orbital launch complex in Canada.

About Clarus Securities

Clarus Securities Inc. is a boutique institutional investment dealer, with a specific focus on working with and supporting growth-oriented small capitalization companies in the Canadian marketplace. Clarus’ offices are located in Toronto, and the firm is registered with the Canadian Investment Regulatory Organization. To learn more visit: www.clarussecurities.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. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the completion of a potential equity or debt capital financing and the identification of potential future investors, which may be impacted by regulatory approvals and market conditions.

Forward-looking statements in this news release are based on certain assumptions and expected future events, namely: the Corporation’s ability to continue as a going concern; the Corporation’s ability to continue to develop revenue-generating applications; continued approval of the Corporation’s activities by the relevant governmental and/or regulatory authorities; the continued growth of the Corporation; the Corporation’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 Corporation to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Corporation’s operations; the inability of the Corporation 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 Corporation’s expectations as of the date hereof and are subject to change thereafter. The Corporation 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/20240227158815/en/

Maritime Launch Services

Sarah McLean

Vice President of Communications and Corporate Affairs

902.402.6947

sarah.mclean@maritimelaunch.com

www.maritimelaunch.com

Source: Maritime Launch Services Inc.

FAQ

What is the name of the developer of Canada's first commercial spaceport mentioned in the press release?

Maritime Launch Services Inc.

Which company is providing capital markets and strategic advice to Maritime Launch Services Inc.?

Clarus Securities Inc.

How many common shares is the Corporation issuing to Clarus Securities Inc. as a work fee?

3,500,000 common shares

At what price per share is the Corporation issuing the common shares to Clarus Securities Inc.?

$0.12 per share

What is the ticker symbol for Maritime Launch Services Inc. on OTCQB?

MAXQF