Maritime Launch Services Congratulates the Government of Canada on the Conclusion of Space Launch Treaty Negotiations with the United States

Rhea-AI Summary

Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) congratulates the Canadian government on concluding negotiations for a Technology Safeguard Agreement (TSA) with the United States. This treaty is a significant milestone for the Canadian space industry, particularly for launch capabilities. The TSA establishes a framework for protecting sensitive technologies and intellectual property, allowing US technology to be launched from Canadian soil.

Maritime Launch is building Spaceport Nova Scotia, Canada's first commercial spaceport, with plans for an orbital launch in early 2026. The company sees this agreement as a major step forward for Canada's commercial space industry growth. The TSA is expected to attract international partnerships, drive technological advancements, and bring significant foreign investment to Nova Scotia and Atlantic Canada.

Positive

• Maritime Launch conducted its first suborbital launch from Nova Scotia in 2023
• Plans for the first orbital launch from Spaceport Nova Scotia in early 2026
• TSA allows US technology to be launched from Canadian soil, potentially increasing business opportunities
• Agreement expected to attract international partnerships and foreign investment

Negative

• None.

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) (“The Company”) congratulates the Government of Canada on concluding negotiations on a Technology Safeguard Agreement (TSA) with the United States. This landmark government-to-government treaty represents a significant milestone for the Canadian space industry, particularly launch, and paves the way for enhanced collaboration, innovation, and security in space technology between the two nations.

The TSA establishes a framework for the protection of sensitive technologies and intellectual property, including launch vehicles and satellites, ensuring that both countries can collaborate on space-related projects while maintaining the highest standards of security and compliance. This agreement not only strengthens the strategic partnership between Canada and the United States but also opens new avenues for growth and development within the Canadian commercial space sector by allowing US technology to be launched to space from Canadian soil.

Maritime Launch is building Spaceport Nova Scotia, Canada’s first and only commercial spaceport located near Canso, Nova Scotia. In 2023, Maritime Launch conducted a first suborbital launch from Nova Scotia and the Company has plans for a first orbital launch in early 2026.

“This is a major step forward for the growth of Canada’s commercial space industry,” says Stephen Matier, President and CEO, Maritime Launch Services. “As we finalize the construction of Spaceport Nova Scotia, we will ensure our spaceport meets the compliance requirements and all of the unique needs of our launch vehicle clients based in the US and their global satellite customer base. We look forward to welcoming our American clients to Nova Scotia in the coming months as we prepare for Canada’s first orbital launch from Spaceport Nova Scotia in 2026”.

As a leading player in the Canadian commercial space industry, Maritime Launch Services recognizes the profound impact this agreement will have on the future of commercial launch, space exploration and technology development in Canada. By fostering a secure and collaborative environment, the TSA will enable Canadian companies, like Maritime Launch, to participate more actively in global space initiatives, driving economic growth.

“Cape Breton—Canso is currently at the forefront of so many emerging industries and economic opportunities — and today we move closer toward the final frontier, commercial spaceflight,” said Mike Kelloway, Member of Parliament for Cape Breton—Canso. “We are proud to be home to Canada’s first commercial spaceport, and our government is proud to announce this agreement with the United States to expand our nation’s capabilities within this new sector.”

Since the company was created in 2016, Maritime Launch’s mission has been to provide reliable and cost-effective access to space for commercial and international government customers. With the TSA in place, Maritime Launch is poised to attract international partnerships, drive technological advancements in the space sector, and bring significant direct foreign investment and economic opportunity to Nova Scotia and Atlantic Canada.

"The Canadian space sector is driven by innovation and growth,” says François-Philippe Champagne, Minister of Innovation, Science and Industry. “Today’s announcement represents a major milestone that will pave the way for a thriving commercial space launch industry in Canada. This development not only enhances the sector’s diversity but also strengthens its global competitiveness, reinforcing Canada’s position as a leader in space exploration and technology."

Maritime Launch looks forward to leveraging the opportunities within the TSA and collaborating closely with Canada’s largest trading partner, the United States. The Company is well positioned to drive progress and position Canada as a global leader in space exploration and technology, bringing socio-economic benefits to our local communities, Nova Scotians, and all Canadians through job creation, space industry growth, and enhanced domestic launch capabilities.

“The achievements in Canada’s space sector have long been an inspiration for all Canadians. Maritime Launch here at home in Nova Scotia is a tremendous example,” said Sean Fraser, Minister of Housing, Infrastructure and Communities and Member of Parliament for Central Nova. “I am proud to stand with them today as we take this huge step forward – a step that will bring new economic opportunities, create new jobs, support national security, and encourage innovation and research.”

About Maritime Launch Services

Maritime Launch (Cboe CA: MAXQ, OTCQB: MAXQF) 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 from a single site. Spaceport Nova Scotia will allow launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada’s first commercial orbital launch complex.

For more information about Maritime Launch and Spaceport Nova Scotia, visit www.maritimelaunch.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.

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/20240802767369/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 the Technology Safeguard Agreement (TSA) for Maritime Launch Services (MAXQF)?

The TSA allows US technology to be launched from Canadian soil, potentially increasing business opportunities for Maritime Launch Services (MAXQF) at their Spaceport Nova Scotia facility.

When is Maritime Launch Services (MAXQF) planning its first orbital launch from Spaceport Nova Scotia?

Maritime Launch Services (MAXQF) is planning its first orbital launch from Spaceport Nova Scotia in early 2026.

What milestone did Maritime Launch Services (MAXQF) achieve in 2023?

In 2023, Maritime Launch Services (MAXQF) conducted its first suborbital launch from Nova Scotia.

How might the TSA impact Maritime Launch Services' (MAXQF) business prospects?

The TSA is expected to attract international partnerships, drive technological advancements, and bring significant foreign investment to Maritime Launch Services (MAXQF) and the Nova Scotia region.