VANCOUVER, Feb. 27, 2014 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast"
or "the Company") is pleased to announce that it has signed six new
data distributors for its high-resolution Earth video and imagery. This
Ultra HD color video and medium-resolution imagery will be captured
from UrtheCast's two cameras ― a 1-meter class, full color video camera
and a 5-meter class, still imagery camera — aboard the International
Space Station (ISS).
The details are as follows:
Six new data distributors: one based in the Middle East and five in
These new distributor agreements have aggregate minimum revenue
commitments of $5 million per annum, which distributors must meet in
order to retain their respective licenses and territorial rights to
Including these new distributors, UrtheCast's data distribution
agreements total 16 distributors, representing minimum commitments of
$26 million per annum
"The signing of these six distributors clearly demonstrates the market's
strong interest in high-resolution, color video of Earth from space.
This is something that only UrtheCast's video camera can provide,"
explained UrtheCast's President and Chief Operating Officer, Wade
Larson. "In addition to the interest in color video from space, the
unique characteristics of the ISS orbit positions UrtheCast's data
offering as complementary to more traditional Earth Observation
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 renowned aerospace partners from
across the globe, UrtheCast has built, launched, installed, and will
soon 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 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'.
For more information visit our website at 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 commissioning of
the cameras, plans to operate camera components on, and stream video
footage from, the ISS, proposed image and video product offerings,
expected partners and customers to distribute such products and
expected revenues. 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 installation, 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