VANCOUVER, Jan. 7, 2014 /CNW/ - UrtheCast Corp. (TSX:UR) ('UrtheCast or
'the Company') is very pleased to announce that its two Earth imaging
cameras have now been cleared for installation aboard the International
Space Station (ISS). The issue that delayed the initial installation of
the cameras has now been resolved, allowing for the scheduling of the
next spacewalk, which is expected by the end of January.
As initially suspected, the problem was found to be a cabling issue
inside the ISS. RSC Energia, the Moscow Mission Control Centre, and the
cosmonauts collectively participated in identifying and verifying the
cause of the anomaly. The engineering team has already implemented and
tested the solution.
"We are extremely grateful for the extraordinary work by Energia and the
cosmonauts onboard the ISS, especially during the holidays," explained
UrtheCast's Chief Executive Officer, Scott Larson. "We are confident
that our cameras will soon be successfully installed and we are looking
forward to collecting our first high-resolution videos."
UrtheCast will confirm the exact date of the second spacewalk to install
its cameras as this information becomes available. In the meantime, the
Company remains focused on the commissioning and testing of the other
facets of its system and is on track with its business plan.
About UrtheCast Corp.
UrtheCast Corp. is a Vancouver-based technology company that is
developing the world's first near-live high-definition video feed of
Earth, from space. Working with renowned aerospace partners from across
the globe, UrtheCast has built, launched, and expects to install and
operate, two cameras on the Russian segment of the ISS. 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 exclusive partners and customers.
UrtheCast's cameras will provide high-resolution video and 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'.
For more information visit our website at www.urthecast.com.
Forward Looking Information
This release contains certain information which, as presented,
constitutes "forward-looking information" within the meaning of
applicable Canadian securities laws. Forward-looking information
involves statements that relate to future events and often addresses
expected future business and financial performance, containing words
such as "anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might", "could",
"should", or "will" be taken or occur, or other similar expressions and
includes, but is not limited to, statements about the timing and
success of a second spacewalk to install our cameras on the ISS, the
commissioning of the cameras once installed, plans to operate camera
components on, and stream video footage from, the ISS, proposed image
and video product offerings and expected partners and customers to
distribute such products. Forward-looking statements and information
are subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of UrtheCast to control or predict, and
which may cause UrtheCast's actual results, performance or achievements
to be materially different from those expressed or implied thereby,
including, but not limited to, damage which may have occurred to the
cameras during launch or which may occur once mounted on the ISS,
unexpected changes in Russian or Canadian government policies,
technology changes, reliance on key personnel, the potential for
conflicts of interest among certain officers, directors or promoters
with certain other projects, competition, risks related to the business
activities of Longford Energy Inc. (now UrtheCast) prior to the reverse
take-over transaction with Earth Video Camera Inc., as well as those
factors discussed in the Company's annual information form dated
November 14, 2013, (the "AIF") and the Company's short form prospectus
dated December 12, 2013 (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 AIF
and Prospectus, and as otherwise disclosed from time to time on
UrtheCast's SEDAR profile.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and
UrtheCast undertakes no obligation to update forward-looking statements
if these beliefs, estimates and opinions or other circumstances should
change, except as may be required by applicable Canadian securities
laws. Readers are cautioned against attributing undue certainty to
SOURCE: UrtheCast Corp.
For further information:
Scott Larson, CEO
+1 (604) 669-1788