Canada's First Commercial Spaceport Closes Financing Deal

Maritime Launch Services Ltd., owner of Canada's first commercial spaceport, has closed financing for gross proceeds of $10.5 million.

PowerOne Capital Markets Limited and Primary Capital Inc. led the financing. The proceeds of this financing will enable MLS to achieve first flight heritage in 2022 of a small class launcher and mature the site and the Cyclone 4M medium class launch vehicle for launch in 2023, from its state-of-the-art complex near Canso, Nova Scotia. With construction to begin this fall, Maritime Launch's commercial launch complex will be the first of its kind in Canada.

"This announcement advances our initiative to disrupt the launch industry by giving our clients an affordable price per kilogram and, just as importantly, the ability to deliver their payloads to space when they want them and where they want them," said Steve Matier, President and CEO of MLS.

Maritime Launch provides the necessary skills, assets, launch vehicle technology, and infrastructure to serve the rapidly growing commercial space launch requirements for satellites. Leveraging highly reliable and mission-proven launch vehicles, Maritime Launch will offer the most efficient lift capacity from Canada's first commercial spaceport to address the launch requirements of the fast-growing LEO space industry worldwide. The medium class launch vehicle, the Cyclone 4M, is right sized for today's market with its 5-ton satellite payload capacity and 4-meter fairing.

The company says their site near Canso is optimal for the launch complex and will provide a wide range of launch inclinations including optimal polar and sun-synchronous launch trajectories. Along with the creation of the launch site, they are looking forward to hiring a talented team and contributing indirectly to economic growth, including local infrastructure improvements and increased tourism.

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