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UrtheCast Closes C$19.6 Million Offering of Common Shares

Press Release From: UrtheCast
Posted: Wednesday, March 22, 2017

UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company") announced today that it has closed its previously-announced bought deal public offering of 13,033,341 common shares ("Common Shares") of the Company (the "Offering"). The Common Shares were issued at a price of $1.50 per Common Share, for aggregate gross proceeds of C$19,550,012. The net proceeds from the Offering will be added to the Company's working capital.

The Offering was conducted by a syndicate of underwriters co-led by Clarus Securities Inc. and Canaccord Genuity Corp. and including Raymond James Ltd. and Eight Capital (collectively, the "Underwriters"), pursuant to the terms of an underwriting agreement between the Company and the Underwriters. The Offering included the exercise-in-full by the Underwriters of the over-allotment option of 1,700,001 Common Shares.

The Common Shares were offered pursuant to a short-form prospectus filed on March 16, 2017 with securities regulatory authorities in the each of the Provinces of Canada, other than Québec.

The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the United States or to U.S. Persons without registration under the U.S. Securities Act and all applicable state securities laws or in compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 operates Earth Observation (EO) sensors in space, including two satellites, Deimos-1 and Deimos-2, to produce imagery data that is displayed on UrtheCast's cloud-based web platform and sold to partners and customers. Through its subsidiary Deimos Imaging, UrtheCast processes and distributes imagery data and value-added products on behalf of the PanGeo Alliance, a network of eight satellite operators with a combined 15 medium- and high-resolution EO sensors. UrtheCast is also developing and expects to launch two EO satellite constellations: the world's first fully-integrated constellation of sixteen multispectral optical and SAR satellites, called OptiSAR(, and an eight-satellite constellation designed to capture high-quality, medium-resolution optical imagery of the Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily). Together, the Company believes these constellations will revolutionize monitoring of our planet with medium- and high-resolution, high-coverage and high-revisit imagery in all weather conditions. 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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