Maritime Launch Services Inc. Receives Approval to Trade on the OTCQB Venture Market Under the Symbol MAXQF

Rhea-AI Summary

Maritime Launch Services Inc. (NEO: MAXQ, OTCQB: MAXQF) announced its approval to trade on the OTCQB Venture Market starting August 23, 2022. This move aims to broaden its investor base and attract U.S. investors to the Spaceport Nova Scotia project, Canada's first commercial spaceport. The company's shares are now eligible for electronic clearing via the Depository Trust Company, enhancing transaction efficiency. Maritime Launch anticipates significant growth in the commercial space industry, positioning North America as a leader in low Earth orbit satellite services.

Positive

• Approval to trade on OTCQB may increase investment interest.
• Eligibility for electronic clearing via DTC streamlines transactions.
• First commercial spaceport in Canada could attract significant market opportunities.

Negative

• None.

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (Maritime Launch, MLSI or the “Company”) (NEO: MAXQ, OTCQB: MAXQF) is pleased to confirm that it has received approval to trade on the OTCQB Venture Market (OTCQB) beginning August 23, 2022, under the symbol MAXQF.

“We look forward to broadening our investor base and engaging with US investors on the opportunity Spaceport Nova Scotia provides the global space industry” says Stephen Matier, President and CEO, Maritime Launch. “Commercial launch services from Canada will strengthen North America’s position as a global leader in low earth orbit satellite communications. We will offer launch services to the global and US marketplace, fueling new growth and attracting investment. While all other ranges in the United States are owned and operated by government, Spaceport Nova Scotia will be the first, pure-play commercial spaceport on the continent”.

In connection with the approval to trade on the OTCQB, the common shares of Maritime Launch have also been made eligible for electronic clearing and settlement in the United States through the Depository Trust Company (DTC). DTC manages the electronic clearing and settlement of securities of publicly traded companies. This electronic method of clearing securities through DTC speeds up the receipt of stock and cash, and thus generally accelerates the settlement process for brokers and investors.

Trading on the OTCQB will provide Maritime Launch with access to a greater base of retail and institutional investors, allowing the opportunity for residents of Canada and the United States to own a piece of North America’s first, and only, commercial spaceport.

About Maritime Launch

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/20220823005640/en/

Maritime Launch

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

When did Maritime Launch start trading on OTCQB under symbol MAXQF?

Maritime Launch began trading on the OTCQB Venture Market on August 23, 2022.

What is the significance of Spaceport Nova Scotia for Maritime Launch?

Spaceport Nova Scotia is important as it positions Maritime Launch as the first commercial spaceport in Canada, enhancing its market opportunities.

How does OTCQB trading benefit Maritime Launch and its investors?

Trading on OTCQB broadens the investor base and provides access to retail and institutional investors in Canada and the U.S.

What is the symbol for Maritime Launch on the OTCQB?

The symbol for Maritime Launch on the OTCQB is MAXQF.