Maritime Launch Services Inc. Issues Early Warning Report Filing Pursuant to National Instrument 62-103

Rhea-AI Summary

Maritime Launch Services (Cboe CA: MAXQ, OTCQB: MAXQF) has announced share transfers by two major shareholders. Stephen Matier, through Silverwing Enterprises , transferred 4,500,000 common shares to arm's-length third parties, reducing his ownership from 20.75% to 19.69% on a fully diluted basis. Similarly, Sasha Jacob, through Jacob Capital Management Inc., transferred 4,500,000 common shares, decreasing his ownership from 30.24% to 29.22% on a fully diluted basis.

Both transfers were made without monetary consideration to satisfy prior personal commitments. These transactions are separate from the previously announced extension of Convertible Debentures and pending Private Placement from November 13, 2024.

Positive

• None.

Negative

• Two major shareholders reduced their holdings without monetary compensation
• Combined insider ownership decreased by approximately 2.08% on a fully diluted basis

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) (the “Company”). This press release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issuers ("NI 62-103") in connection with the filing of early warning reports by each of Stephen Matier and Sasha Jacob as a result of their transfer of common shares of the Company (“common shares”) to certain arm’s-length third-parties.

Mr. Matier, through an entity controlled by him, Silverwing Enterprises LLC, has transferred 4,500,000 common shares of the Company for no monetary consideration to certain arm’s-length third parties to satisfy prior personal commitments. Prior to the transfer, Mr. Matier beneficially held an aggregate of 85,667,464 common shares and options to purchase an additional 2,250,000 common shares representing 20.75% of the then outstanding common shares on a fully diluted basis. Following the completion of the transfers, Mr. Matier now beneficially holds an aggregate of 81,167,464 common shares and options to purchase an additional 2,250,000 common shares representing 19.69% of the outstanding common shares on a fully diluted basis.

Mr. Jacob, through an entity controlled by him, Jacob Capital Management Inc., has transferred 4,500,000 common shares of the Company for no monetary consideration to certain arm’s-length third parties to satisfy prior personal commitments. Prior to the transfer, Mr. Jacob beneficially held an aggregate of 115,676,235 common shares, warrants to acquire 13,500,000 additional common shares, options to purchase and additional 2,250,000 common shares, and $140,000 in convertible debentures currently convertible at $0.12 for 1,166,667 Shares representing 30.24% of the outstanding common shares on a fully diluted basis. Following the completion of the transfers, Mr. Jacob now beneficially holds an aggregate of 111,176,235 common shares, warrants to acquire 13,500,000 additional common shares, options to purchase an additional 2,250,000 common shares, and $140,000 in convertible debentures currently convertible at $0.12 for 1,166,667 Shares representing 29.22% of the outstanding common shares on a fully diluted basis.

The above noted transactions and transfers are independent of the extension of Convertible Debentures and pending Private Placement, announced by the Company on November 13, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219209889/en/

For further information, including a copy of each 62-103F1 reports (also filed on SEDAR+), please contact:

Phil Jones

1883 Upper Water, Suite 303

Halifax, Nova Scotia B3J 1S9

phil.jones@maritimelaunch.com

Source: Maritime Launch Services Inc.

FAQ

How many shares did Stephen Matier transfer in MAXQF and what is his current ownership?

Stephen Matier transferred 4,500,000 common shares, reducing his ownership to 81,167,464 shares plus 2,250,000 options, representing 19.69% ownership on a fully diluted basis.

What is Sasha Jacob's current ownership percentage in MAXQF after the share transfer?

After transferring 4,500,000 shares, Sasha Jacob now holds 29.22% ownership on a fully diluted basis, including shares, warrants, options, and convertible debentures.

Were the MAXQF share transfers by Matier and Jacob made for monetary consideration?

No, both transfers were made for no monetary consideration to satisfy prior personal commitments to arm's-length third parties.

How are these MAXQF share transfers related to the November 13, 2024 announcements?

The share transfers are independent of the extension of Convertible Debentures and pending Private Placement announced on November 13, 2024.