Posted: Tuesday, January 10, 2017
UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company") is pleased to announce it has signed a contract to provide engineering services and space hardware for US$3.9 million.
"This contract highlights the continued success of our Engineering Services business and the market's confidence in our capabilities and expertise in spaceborne hardware," explained Wade Larson, UrtheCast's President and Chief Executive Officer. "UrtheCast is proud to continue delivering sophisticated products and services that meet the market's needs."
UrtheCast expects to deliver the related space hardware in the fourth quarter of 2017 and to receive 70 percent of the contract price in the first quarter of 2017. The contract is subject to customary covenants and conditions for supply agreements of this nature.
ABOUT URTHECAST CORP.
UrtheCast Corp. is a Vancouver-based technology company that serves the rapidly evolving geospatial and geoanalytics markets with a wide range of information-rich products and services. The Company currently operates four Earth Observation sensors in space, including two cameras aboard the International Space Station and two satellites, Deimos-1 and Deimos-2. Imagery and video data captured by these sensors is downlinked to ground stations across the planet and displayed on the UrthePlatform, or distributed directly to partners and customers. UrtheCast is also developing and anticipates launching the world's first fully-integrated constellation of multispectral optical and SAR satellites, called OptiSAR™, in addition to its proposed UrtheDaily™ constellation, which the Company believes will together revolutionize monitoring of our planet with high-quality, medium and high-resolution, and high-coverage and high-revisit imagery in all weather conditions, any time of day. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker 'UR'.
For more information, visit UrtheCast's website at www.urthecast.com.
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