VANCOUVER, Sept. 18, 2015 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company") is pleased to announce that it has been awarded the Euroconsult prize for 'Strategic Transaction of the Year'. The award was presented to the Company on Sept. 18, during the 2015 Summit On Earth Observation Business in Paris, as part of the World Satellite Business Week Event. The event is considered to be the pre-eminent space industry conference in the world with over 40 countries taking part, representing 95% of the satellite industry. The prize was awarded to UrtheCast for the July acquisition of the Deimos Imaging satellites and operations.
Euroconsult's Annual Earth Observation Business Awards recognize companies that are transforming and driving the satellite industry, contributing to its growth and innovation. Rigorous quantitative and qualitative methods were applied in the assessment, which was based on a company-by-company performance analysis and assessed by experts from Euroconsult, the leading global research and analyst firm specializing in the Space and Earth Observation (EO) sector. For 18 years, Euroconsult has recognized its industry winners in Paris during the World Satellite Business Week, a leading EO industry event.
"We would like to extend our thanks to Euroconsult and the jury. We're thrilled to be recognized by such a prestigious institution," said Wade Larson, UrtheCast Co-founder, President, and Chief Operating Officer. "With this acquisition we have combined two remarkably strong teams, and to be awarded for that transaction is a testament to not only the hard work of UrtheCast, but also to the efforts of the Deimos Imaging organization and its leadership. As a result, our customers are now set to reap increasingly strategic EO insights."
About UrtheCast Corp.
UrtheCast Corp. is a Vancouver-based technology company that is developing the world's first Ultra HD video feed of Earth, streamed from space in full color. Working with prominent aerospace partners from across the globe, UrtheCast has built, launched, installed, and will soon operate its Ultra HD video camera, Iris, on the ISS alongside its Medium Resolution Camera ("MRC"). Both Iris and the MRC have reached Initial Operation Capability ("IOC"), in 2015 and 2014 respectively. UrtheCast also owns and operates the Deimos-1 and Deimos-2 satellites through its Spanish subsidiary, operating as Deimos Imaging. Video and still image data captured by the cameras will be downlinked to ground stations across the planet and displayed on the UrtheCast web platform, or distributed directly to partners and customers. UrtheCast's cameras will provide Ultra HD video and still imagery of Earth that will allow for monitoring of the environment, humanitarian relief, social events, agricultural land, etc. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker 'UR'.
This release contains certain information about UrtheCast which constitutes "forward-looking information" within the meaning of Canadian securities laws. Forward-looking information involves statements that an action or event "will" occur (or similar language) and includes statements about plans to operate cameras on the ISS, proposed imagery products and expected partners. These statements are subject to various risks, many of which are beyond the ability of UrtheCast to control or predict, and which may cause UrtheCast's actual results to be materially different, including, but not limited to, the cameras failing to operate as expected, or at all, as well as those factors discussed in the UrtheCast's short form prospectus dated April 7, 2014 and prospectus supplement dated April 10, 2015 (together, the "Prospectus") which are available under UrtheCast's SEDAR profile at www.sedar.com. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, in the Prospectus, and as disclosed from time to time on UrtheCast's SEDAR profile. UrtheCast undertakes no obligation to update forward-looking statements except as required by Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.
SOURCE UrtheCast Corp.
For further information: Scott Larson, CEO and Co-founder, (778) 331-7823 Direct