00:34:18 EDT Tue 17 Mar 2026
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Maritime Launch Services Inc
Symbol MAXQ
Shares Issued 491,537,765
Close 2026-03-16 C$ 0.63
Market Cap C$ 309,668,792
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Maritime Launch cheers Cdn launch site for defence

2026-03-16 20:32 ET - News Release

Mr. Stephen Matier reports

GOVERNMENT OF CANADA SELECTS SPACEPORT NOVA SCOTIA AS DEDICATED SOVEREIGN LAUNCH SITE FOR NATIONAL DEFENCE

Maritime Launch Services Inc. has welcomed the Department of National Defence as a tenant at Spaceport Nova Scotia, marking a historic milestone in establishing Canada's sovereign launch capability from Canadian soil.

Under the agreement announced by the government of Canada, DND will lease a dedicated launch pad at Spaceport Nova Scotia to support the operational needs of DND, the Canadian Armed Forces and Canada's long-term sovereign access to space.

"Today, we build on Canada's proud legacy as a nation of innovators, explorers and builders," stated David J. McGuinty, Canada's Minister of National Defence, during an announcement event at the David Florida Laboratory in Ottawa today. "With this step, we are not only advancing our capabilities here on Earth [but] we are reaffirming our place among the spacefaring nations shaping the future beyond it. Because in the decades ahead, our security, our prosperity and our sovereignty will increasingly extend beyond our atmosphere. Canada will be there. Ad astra defendimus."

The agreement provides DND with access to a dedicated launch pad at Spaceport Nova Scotia for a 10-year term retroactive to April 1, 2025, representing a total contract value of $200-million over the term. Under the agreement, Maritime Launch will receive $20-million per year, with approximately 90 per cent of gross rental payments spent in Canada to support domestic industry and work force development. Importantly, the timing of payments supports near-term cash flow as the spaceport advances toward operations. The first $20-million cash payment is due before March 31, 2026, followed by $5-million payments at the end of each fiscal quarter thereafter.

Maritime Launch is responsible for maintaining and ensuring the facilities and continuing the buildout of the spaceport, including additional launch pads, a launch control centre, payload integration and testing facilities, and supporting infrastructure. The dedicated launch pad is expected to reach initial operational readiness by the end of 2026.

"Spaceport Nova Scotia is ready to serve as Canada's choice for sovereign orbital launch capability. We are readying the site to welcome launch customers from around the world for commercial, civil and defence missions. Located on Canada's Atlantic coast, the spaceport offers safe overocean launch corridors and access to highly sought-after orbital inclinations, providing a unique capability that only a limited number of global launch locations can support," said Stephen Matier, president and chief executive officer, Maritime Launch. "Spaceport Nova Scotia helps address a global launch capacity bottleneck, where demand for access to orbit continues to outpace available launch infrastructure. By enabling reliable launch access from Canadian soil, Spaceport Nova Scotia will help unlock the growth of the Canadian space sector and create lasting economic opportunity for Canadians. This agreement represents a long-term investment in Canadian infrastructure, Canadian workers and Canadian communities, including the creation of high-quality jobs in rural regions such as the Municipality of the District of Guysborough, home to Spaceport Nova Scotia. We are proud to support missions that strengthen Canada's security and sovereign access to space while helping build a strong, competitive Canadian space economy."

This agreement delivers on the government of Canada's defence industrial strategy and investments announced in budget 2025-2026 to establish a sovereign space launch capability by anchoring critical launch infrastructure in Canada, strengthening domestic defence capacity, supporting Canadian industry and skilled workers, and ensuring the Canadian Armed Forces have reliable, dedicated access to space-based capabilities. At today's event in Ottawa, Mr. McGuinty highlighted Canada's firm commitment to the North Atlantic Treaty Organization, announcing Canada's intention to become a full member of the NATO Starlift initiative. Starlift aims to build a more resilient, responsive and cost-effective network of space launch capabilities to enable NATO allies to launch assets at short notice from spaceports across the alliance.

Spaceport Nova Scotia is being developed as a dual-use launch facility supporting both commercial space activity and government missions, welcoming launch customers from around the world while advancing Canada's national resilience and broader space, defence, and security objectives.

About Maritime Launch Services Inc.

Maritime Launch is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a dual-use commercial spaceport designed to support both civil- and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location. Spaceport Nova Scotia is Canada's first commercial orbital launch complex, enabling launch vehicles to place satellites into low Earth orbit.

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