Mr. Stephen Matier reports

PROVINCE OF NOVA SCOTIA INVESTS IN MARITIME LAUNCH SERVICES DRIVING SPACE SECTOR INNOVATION IN CANADA

Canada's launch capabilities and Nova Scotia's position as a global space sector innovator gain significant momentum as the Province of Nova Scotia approves Maritime Launch Services Inc.'s Spaceport Nova Scotia -- Canada's first commercial spaceport -- as an eligible project for the Nova Scotia capital investment tax credit program (CITC).

Spaceport Nova Scotia, located near Canso, N.S., is currently being developed by Maritime Launch Services.

Stephen Matier, president and chief executive officer, Maritime Launch Services, says Spaceport Nova Scotia's CITC approval will accelerate benefits for the province and Canada. "Companies around the world are racing to get their technology launched into space, and the CITC program will help us expedite our project to serve this global demand," says Mr. Matier. "The government of Nova Scotia understands the time is right, and we must work now to fully leverage this opportunity for Nova Scotia to become a global space sector destination."

"We are proud that Nova Scotia is home to Canada's first commercial spaceport and recognize the critical role Maritime Launch will play in offering a satellite launch facility to the global market," said Tim Houston, Premier of Nova Scotia. "Our government is focused on nurturing innovation to grow our economy and increase local prosperity. Spaceport Nova Scotia is an exciting project that advances our province on both fronts."

Spaceport Nova Scotia's CITC Part A application approval provides a material financial commitment to the province's continuing support for rural economic development and innovation. Specifically, this approval results in an initial qualification of more than $13-million for the project for the current phase of development through the CITC.

The CITC program's threshold was recently increased to 25 per cent for eligible capital equipment projects of up to $400-million with a maximum tax credit of $100-million per project. Maritime Launch intends to apply for the full scope of eligibility.

"The economic impact of a project like Spaceport Nova Scotia is clear, with the construction phase projected to add $143-million to the Nova Scotia economy, along with 750 year-round jobs," said Susan Corkum-Greek, Minister of Economic Development. "Nova Scotia's capital investment tax credit is designed to encourage businesses to invest and grow in our province. That's why we're pleased to see this project utilize the CITC, knowing it will continue to help Spaceport Nova Scotia be a significant driver of rural investment and innovation."

Earlier this spring, a Conference Board of Canada (CBOC) study projected significant and lasting economic benefits of the Spaceport Nova Scotia project.

Once the project fully ramps up operations, the Conference Board of Canada projects it will add around $300-million to Canada's gross domestic product annually, boost revenue to governments by more than $100-million and create close to 1,000 annual full-year jobs across Canada.

About Maritime Launch Services Inc.

Maritime Launch Services is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations. Spaceport Nova Scotia will allow small and medium-sized launch vehicles to place their satellites into low-Earth orbit. Spaceport Nova Scotia is Canada's first commercial orbital launch complex.

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