Maritime Launch Appoints Prominent Canadian Space Executive, Sylvain Laporte, to Board of Directors

Rhea-AI Summary

Maritime Launch Services Inc. (NEO: MAXQ, OTCQB: MAXQF) has announced the appointment of Sylvain Laporte to its Board of Directors. Laporte, a former President of the Canadian Space Agency, brings over 38 years of experience in the aerospace sector, including significant accomplishments in satellite launches and investment acquisition for Canada's space program, amounting to $2.5B. His leadership is expected to enhance Maritime Launch's growth and competitiveness in the commercial space industry, particularly as they develop Spaceport Nova Scotia.

Positive

• Appointment of Sylvain Laporte as a board member brings extensive experience in aerospace and space industry leadership.
• Laporte's past success in securing $2.5B for the Canadian space program could positively influence funding and strategic direction for Maritime Launch.

Negative

• No significant operational or financial metrics were disclosed regarding current performance or future profitability.

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (NEO: MAXQ, OTCQB: MAXQF) (Maritime Launch or “the Company”), owner and operator of Canada’s first commercial spaceport, Spaceport Nova Scotia, is pleased to announce the appointment of Sylvain Laporte to the Board of Directors.

A former President of the Canadian Space Agency, Mr. Laporte is a sectoral leader who has advanced Canada’s involvement in space through the launch of scientific and earth observation satellites, planetary exploration missions and the continued human presence on the International Space Station with Canadian astronauts.

“Over the last year, Maritime Launch has met a number of key milestones and I am thrilled to join the Board at this critical stage in their development,” says Sylvain Laporte. “With over 38 years of experience, I have spent a significant portion of my career dedicated to advancing and championing the growth of the Canadian aerospace sector. I am looking forward to using my leadership experience to propel Maritime Launch to the next level.”

Mr. Laporte has served as CEO of the Canadian Intellectual Property Office. He has held senior positions within Industry Canada as the Chief Informatics Officer and the Executive Director of the Integrated Technologies Office. Laporte has served 20 years in the military as an aerospace engineer with the Royal Canadian Air Force.

“Sylvain’s leadership in space has fundamentally changed the trajectory of Canada’s competitive success in the sector,” said Sasha Jacob, Chair, Board of Directors. “With senior leadership roles in the public and private sectors, Sylvain has developed innovative aerospace programs resulting in meaningful socio-economic benefits for Canadians. I look forward to adding his voice, energy and perspective to our board table.”

Throughout Laporte’s career, he has been focused on creating innovation and leading change management in the space, defence, aeronautical, supply chain management and information technology sectors.

“I have known Sylvain for a number of years and since our very first meeting, I’ve been impressed by Sylvain’s commitment to bring the many benefits of space to earth,” said Stephen Matier, President and CEO of Maritime Launch. “Not only do Sylvain and I share the same passion for developing young talent in the Canadian space industry, we also believe that now is the time to step into what is a very competitive space race and launch technology into orbit that will change life for the better.”

During Laporte’s tenure as President of the Canadian Space Agency, he played a key leadership role in securing investments of $2.5B for Canada’s space program. The funds are used to accelerate innovation, grow the Canadian space industry and the economy, and to create the jobs of the future and to inspire Canadians.

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 directly 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.

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/20221011005482/en/

Maritime Launch Services

Sarah McLean, Vice President of Communications and Corporate Affairs

sarah.mclean@maritimelaunch.com

www.maritimelaunch.com

902.402.6947

Source: Maritime Launch Services Inc.

FAQ

What is the significance of Sylvain Laporte's appointment to Maritime Launch Services?

Sylvain Laporte's appointment is significant due to his vast experience in the aerospace sector, which is expected to help drive Maritime Launch's growth and competitiveness.

What experience does Sylvain Laporte bring to Maritime Launch Services?

Laporte has over 38 years of aerospace experience, including leadership roles at the Canadian Space Agency, and has been instrumental in advancing Canada's space initiatives.

How might Sylvain Laporte impact the future of Maritime Launch Services?

Laporte's extensive industry contacts and experience in securing significant funding could enhance Maritime Launch's ability to grow and succeed in the competitive space industry.

What are Maritime Launch Services' future plans with Spaceport Nova Scotia?

Maritime Launch aims to develop Spaceport Nova Scotia to provide satellite delivery services, supporting the burgeoning commercial space transportation industry.