Mr. Sai Chu reports

URTHECAST ANNOUNCES MUTUAL TERMINATION OF CREDIT AGREEMENT

Urthecast Corp., Deimos Imaging SLU, a wholly owned subsidiary of UrtheCast, UrtheDaily Funding LP and U.S. Bank National Association have entered into a mutual termination agreement dated Feb. 13, 2019, which formally terminates the credit agreement dated as of May 18, 2018, among the parties.

Under the termination agreement, Urthecast has agreed that in lieu of all termination fees otherwise payable under the credit agreement, the approximately 14 million warrants issued to the lender on execution of the credit agreement, having an exercise price of 48 cents, an expiry date of May 25, 2023, and substantially similar terms and conditions as the warrants issued by Urthecast in connection with its subordinated capital financing in May, 2018, will become exercisable upon alternative financing for the UrtheDaily constellation being secured and drawn down, subject to approval from the Toronto Stock Exchange. In addition, Urthecast has agreed to pay the expenses of the lender in connection with the credit agreement in the amount of approximately $325,000 in instalments due on Feb. 28, 2019, March 31, 2019, and June 30, 2019.

The termination of the credit agreement will not impede or adversely impact Urthecast's ability to service its customers and will allow Urthecast to seek alternative financing for the UrtheDaily constellation with greater structural and operational flexibility, although there can be no assurance that alternative financing will be obtained on more flexible terms or at all. Management believes the recent acquisition of Geosys and the significant binding contractual commitments for UrtheDaily data validate the business case of the UrtheDaily constellation.

About Urthecast Corp.

Urthecast 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.

We seek Safe Harbor.