CAMBRIDGE, ON, Feb. 9, 2016 /CNW/ - exactEarth Ltd. (TSX: XCT), the leading provider of Satellite-AIS data services, today announced its common shares will begin trading today on the Toronto Stock Exchange ("TSX"). exactEarth will trade under the symbol "XCT".
"Today represents an exciting and important milestone in the growth and evolution of our business," said Peter Mabson, CEO of exactEarth. "The listing reflects our team's success in pioneering Satellite-AIS and in becoming the global leader in that market. Being listed on the TSX will provide us with greater access to capital in order to pursue our growth objectives and to capture the significant opportunity in both existing and new markets. As investors and shareholders in the business ourselves, I speak on behalf of the management team when I say we are excited about the future and feel we have only just begun to capitalize on exactEarth's potential."
No securities regulatory authority has either approved or disapproved the contents of this press release. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of exactEarth Ltd. in any jurisdiction. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of said Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its establishment in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite-AIS ("S-AIS") and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth has deployed an operational data processing supply chain involving a constellation of satellites, receiving ground stations, patented decoding algorithms and advanced "big data" processing and distribution facilities. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets. For more information, visit exactearth.com.
This news release contains statements that, to the extent they are not statements of historical fact, may constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding exactEarth's future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, including statements regarding, among other things, the intentions of the parties, the use of any intellectual property, further investments that may be made by exactEarth and new markets that may be exploited by either party. Forward looking statements in this news release include, but are not limited to, statements with respect to the ability to access future capital, acquisition and market opportunities as well as exactEarth's growth objectives.
exactEarth uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" or the negative of these terms and other similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by exactEarth in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors exactEarth believes are appropriate under the relevant circumstances. However, whether actual results, performance and developments will conform to exactEarth's expectations and predictions is subject to any number of risks, assumptions and uncertainties.
Many factors could cause exactEarth's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Forward-looking statements necessarily involve known and unknown risks, including without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of exactEarth's customers; the competition exactEarth faces in its industry and/or marketplace; the further delayed launch of satellites; the reduced scope of significant existing contracts; the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services; and the other risks and factors discussed under "Risk Factors" in Appendix "E" of the information circular of COM DEV International Ltd. dated December 21, 2015.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect. exactEarth does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE exactEarth Ltd.
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For further information: Dave Mason, Investor Relations, Tel: +1 416-985-3647, firstname.lastname@example.org