Maritime Launch Services Signs Memorandum of Understanding with Leading Launch Vehicle Developer for Orbital Launches from Nova Scotia

Rhea-AI Summary

Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) has signed a Memorandum of Understanding (MOU) with a leading international launch vehicle operator to facilitate small-class orbital vehicle launches from Spaceport Nova Scotia. This agreement follows a Letter of Intent signed in 2023 and aims to boost Canada's participation in international space collaboration. The first orbital launch is planned for 2026.

Key elements of the agreement include:

• Maritime Launch Services will provide launch site infrastructure and regulatory support
• The launch operator will be responsible for the launch vehicle and specialty support equipment
• A pathfinder launch will be executed as the initial step
• Multi-year, multi-launch operations will follow under a commercial site lease model

This partnership is expected to demonstrate Spaceport Nova Scotia's capabilities and address the current demand in the satellite client marketplace.

Positive

• Signed MOU with leading international launch vehicle operator for orbital launches
• Planned first orbital launch from Spaceport Nova Scotia in 2026
• Multi-year, multi-launch operations expected following successful pathfinder mission
• Partnership aims to address pent-up demand from satellite client marketplace

Negative

• None.

HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) and a prominent international launch vehicle operator have signed a Memorandum of Understanding (MOU) to facilitate the launch of a small-class orbital vehicle from Spaceport Nova Scotia.

This strategic agreement marks a significant milestone for Canada’s participation in international space collaboration and aims to boost the capabilities of Spaceport Nova Scotia as a leading global launch site. Canada and the USA have also recently announced the conclusion of negotiations on a Technology Safeguards Agreement (TSA) between both countries, which paves the way for a thriving space industry launching from Spaceport Nova Scotia.

Maritime Launch is planning a first orbital launch from Spaceport Nova Scotia in 2026.

Under the terms of the MOU, Maritime Launch Services, as the spaceport operator, will provide the necessary launch site infrastructure and regulatory support, while the launch operator will be responsible for the launch vehicle and specialty support equipment.

This MOU follows the Letter of Intent that was signed by both parties in 2023 and serves as a basis for the definitive and binding launch service agreement. Both parties are committed to working closely to ensure the successful implementation of the agreement to foster the growth of the global space industry.

Maritime Launch will host its first two small launch vehicle clients at Spaceport Nova Scotia for the current construction phase and will integrate the launch provider’s vehicles and support equipment into the operational framework of Spaceport Nova Scotia.

Key Elements of the Agreement:

1. Pathfinder Launch: The initial steps will involve both parties working together to execute the first orbital launch from Spaceport Nova Scotia.
2. Commercial Operations: Following the successful pathfinder mission, the multi-year, multi-launch operations will quickly ramp up under the commercial site lease model.
3. Infrastructure and Safety: Maritime Launch will be responsible for public safety, launch-related mission support, and coordinating with various federal authorities for restricted airspace and waterways. The mobile launch vehicle capability will enable the use of temporary or mobile site infrastructure for initial launches.

Stephen Matier, President and CEO of Maritime Launch Services, stated, “This partnership is a significant step forward for Spaceport Nova Scotia. It not only highlights our commitment to welcoming international space companies to Canada but also secures a leading launch vehicle for orbital missions from Spaceport Nova Scotia,” Matier added “This partnership will also demonstrate our capabilities as a launch site, capable of accommodating diverse launch systems for our client needs. The partnership allows us to deliver launch capability towards the current pent-up demand from the satellite client marketplace.”

As the MOU guidelines are executed by both parties in the coming months, Maritime Launch will announce further details regarding this international partnership.

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/20240813206895/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 MOU signed by Maritime Launch Services (MAXQF)?

The MOU signed by Maritime Launch Services (MAXQF) with a leading international launch vehicle operator is significant as it facilitates small-class orbital vehicle launches from Spaceport Nova Scotia, marking a milestone for Canada's participation in international space collaboration.

When is the first orbital launch planned from Spaceport Nova Scotia by Maritime Launch Services (MAXQF)?

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

What are the key responsibilities of Maritime Launch Services (MAXQF) in this partnership?

Maritime Launch Services (MAXQF) will be responsible for providing launch site infrastructure, regulatory support, public safety, launch-related mission support, and coordinating with federal authorities for restricted airspace and waterways.

How will the partnership between Maritime Launch Services (MAXQF) and the launch vehicle operator progress?

The partnership will begin with a pathfinder launch, followed by multi-year, multi-launch operations under a commercial site lease model, ramping up quickly after the successful initial mission.