Export Development Canada Commits $10 Million to Maritime Launch to Advance Spaceport Nova Scotia Toward Orbital Launch

Executive Summary

• Export Development Canada (EDC) has committed a $10 million senior credit facility to Maritime Launch Services Inc. to accelerate development of Spaceport Nova Scotia and move toward the first orbital launch.
• The facility provides an initial $5 million advance at closing, with the remaining $5 million available on drawdown tied to construction milestones.
• Funding is earmarked for the next phase of Spaceport construction, including launch‑pad infrastructure and related facilities required for future orbital missions.

Key Details

• Financing Structure: Senior credit facility of $10 million from EDC.
• Advance Schedule: Initial $5 million funded at closing; remaining $5 million available via drawdowns aligned with ongoing development and construction costs.
• Use of Proceeds: Dedicated to Spaceport Nova Scotia’s next phase – launch‑pad buildout, supporting infrastructure, and other capital expenditures needed for orbital launch capability.
• Company Tickers: Cboe Canada (MAXQ), OTCQB (MAXQF).
• Regulatory Filing: Detailed credit agreement terms will be filed on SEDAR+.
• Strategic Impact: Enhances Canada’s sovereign launch capability, supports defence, security, telecommunications, weather monitoring and broader commercial space services.

Notable Quotes

• “This commitment by EDC marks another major step forward for Maritime Launch and Canada's growing commercial space sector,” – Stephen Matier, President & CEO, Maritime Launch Services.
• “EDC is focused on deploying our capital to sectors and projects of strategic national importance to Canada… we are proud to support Maritime Launch as it develops Canada's first commercial spaceport,” – Alison Nankivell, President & CEO, EDC.

Materiality Assessment: Material – Positive (significant financing that materially advances the company’s core project and growth trajectory).