Posted: Monday, March 19, 2018
UrtheCast Corp. (TSX: UR) ("UrtheCast" or the "Company") announced today that further to the update provided on March 9, 2018, the Company will release its 2017 fourth quarter and full-year financial results after markets close on April 2, 2018 and has rescheduled its earnings conference call to 4:30 p.m. ET (1:30 p.m. PT) that same day.
The live conference call on April 2, 2018 will be available by calling toll-free at 1-800-806-5484, or by toll call at 1-416-340-2217. The participant pass code is 8289690#. An archived version of the conference call will be made available on the Company's investor website (investors.urthecast.com) following the live conference call.
The Company believes rescheduling the call is prudent to provide the Company with additional time to execute on its stated priorities, including in particular:
1) Identifying, securing and closing the subordinated capital or equity financing portion of the financing package for the UrtheDaily™ Constellation;
2) Implementation of selected performance improvement and cost reduction options in support of achieving the Company's stated priorities; and
3) Completion of final documentation with the selected institutional investor.
The exclusivity agreement with the selected institutional investor has been extended to March 31, 2018, as both parties work diligently to conclude this transaction. While there are no other material updates to report, the Company continues to work towards finalizing the definitive documentation and conditions for the debt financing facility and identifying, securing and closing the subordinated capital or equity financing; however, there can be no assurance that the debt financing, the subordinated capital financing or any equity offering will be completed on the terms currently being negotiated or at all.
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, through its subsidiary Deimos Imaging, including two satellites, Deimos-1 and Deimos-2, to produce imagery data for partners and customers in multiple markets. UrtheCast processes and distributes imagery data and value-added products on behalf of the PanGeo Alliance, a network of seven satellite operators with a combined 13 medium- and high-resolution EO sensors. Additionally, UrtheCast is developing the world's first fully-integrated constellation of sixteen multispectral optical and SAR satellites, called OptiSAR™, and a satellite constellation designed to capture high-quality, medium- resolution optical imagery of the Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily™. 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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