BREAKING: MDA SPACE MAKES $10 MILLION INVESTMENT IN MARITIME LAUNCH, BECOMES AN EQUITY OWNER AND A STRATEGIC PARTNER
Expected to bolster Canada’s sovereign space capabilities and create a competitive option for the global launch services market.
Brampton, Ontario & Halifax, Nova Scotia (Monday, November 3rd)– MDA Space Ltd. (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, and Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) today announced a $10 million equity investment by MDA Space in Maritime Launch Services Inc. at a price of $0.223 per share.
The MDA Space investment in Maritime Launch Services marks a key milestone in advancing Canada’s sovereign launch capability, strengthening the country’s domestic space value chain, with complete capability from ground to orbit.
The equity investment will accelerate Spaceport Nova Scotia’s readiness for orbital launch operations, providing reliable domestic launch capability for commercial, civil, government, and defence clients in Canada. MDA Space expects to become an operational partner at Spaceport Nova Scotia, supporting the development and future operations of the spaceport.
“MDA Space’s investment and partnership come at a pivotal moment for Maritime Launch and for Canada’s space future,” said Stephen Matier, President and CEO of Maritime Launch Services. “By combining MDA Space’s world-class technical heritage with our operational focus at Spaceport Nova Scotia, we are creating the conditions our launch vehicle clients need: reliability, responsiveness, and integration across the full mission campaign. Together, we are building a complete sovereign launch solution that strengthens Canadian innovation, drives economic growth, and enhances security in space.”
Maritime Launch is a Canadian-owned commercial space company that is developing Spaceport Nova Scotia, Canada’s first commercial orbital launch complex. Located near Canso, Nova Scotia, on the Atlantic coast, Spaceport Nova Scotia is designed to provide responsive, cost-effective, and sustainable access to space for launch vehicle developers and satellite delivery services to low-Earth orbit over a wide range of inclinations from a single site.
“Maritime Launch has been methodically advancing the development of Spaceport Nova Scotia, focused on doing it right, with safety, community, and operational excellence, to address the needs of the domestic and global space ecosystem,” said Mike Greenley, CEO of MDA Space. “In a rapidly changing space industry, establishing sovereign launch capacity in Canada that will respond to the global demand for alternate launch capabilities on Canada’s Atlantic coast is important. This is an example of strategically located critical infrastructure that is needed. MDA Space is pleased to partner with Maritime Launch on this exciting new chapter for the Canadian space industry.”
Spaceport Nova Scotia is expected to create significant economic benefits in the Atlantic and across Canada, through high-quality jobs, local supply-chain development, and global investment attraction.
The transaction includes an Investor Rights Agreement, entered into between MDA Space and Maritime Launch, providing MDA Space with certain rights, including the right to nominate one individual to sit on the board of Maritime Launch and pro-rata participatory rights in future financings of the Spaceport. The investment will be used for applicable research and development initiatives relating to the ongoing development of Spaceport Nova Scotia and will trigger the retirement of convertible debentures.
The Investor Rights agreement will be posted to the Maritime Launch SEDAR+ profile in the coming days, as required.
Forward Looking Statement
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the current expectations of Maritime Launch and MDA Space regarding future events. Forward-looking information includes references to the expected benefits and results of the equity investment and operational partnership and the development of Spaceport Nova Scotia, and the global demand for alternative launch capabilities on Canada’s Atlantic coast, use of proceeds and MDA Space’s involvement as an operational partner at Spaceport Nova Scotia. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the parties’ control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the parties to achieve the expected benefits of the equity investment and operational partnership, conversion by holders of convertible debentures into shares of Maritime Launch and the other factors discussed under "Risk Factors" in the Annual Information Form of each of Maritime Launch and MDA Space available on SEDAR+ at www.sedarplus.com.
Neither Maritime Launch nor MDA Space undertakes any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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
About MDA Space
Building the space between proven and possible, MDA Space (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 3,800 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit www.mda.space.
Noah Notes: Wow. I wasn't expecting this today. Almost everyone recognizes that the current government is highly interested in space and space-related infrastructure. There is also a desire to promote a Canadian launch capability.
As Canada’s premier Space-based manufacturer, MDA has a vested interest in taking advantage of that to secure some form of domestic launch infrastructure.
Of course there is still a lack of a proper medium-launch vehicle in Canada. Unless Maritime is prepared to find a partner with that capability that's willing to partner? There is a natural limit to what can be done. Right now they couldn't launch something like an Aurora bus.
However this partnership absolutely opens up a lot for Maritime, and is a major desire of confidence. Budget tomorrow promises new investments into space and likely domestic launch. This is getting ahead of that game.
Glad to see this is progressing (especially as a Bluenoser myself). Who would be the potential partners for a medium launch vehicle?