VANCOUVER, Oct. 11, 2013 /CNW/ - UrtheCast Corp. (TSX:UR) is pleased to announce the appointment of Tye Burt as Chair of the Board. Mr. Burt, a current director of UrtheCast, brings over 26 years of corporate and financial leadership experience to the helm of the UrtheCast board and steps into the position following Ian Delaney, who has left the board to pursue other opportunities.
"We are very thankful for the exceptional support that Ian has given us during these past few months," stated Scott Larson, Chief Executive Officer. "He's provided extraordinary leadership and guidance, which was well-evidenced during UrtheCast's successful entry onto the TSX this summer."
As a member of the board, and now as our Chair, Mr. Burt brings broad experience in the mining and space industries as well as in corporate finance. His 16-year career in corporate finance included roles as Chair of Deutsche Bank Canada and Deutsche Bank Securities Canada, Managing Director at BMO Nesbitt Burns, and Vice-Chair and Executive Director of Corporate Development at Barrick Gold Corporation, the largest gold mining company in the world. Previously, Mr. Burt held the position of President, CEO, and Director of Kinross Gold Corporation, one of the world's leading gold producers. His space industry experience was attained as a past board member of MacDonald Dettwiler and Associates Ltd (TSX:MDA). Currently, Mr. Burt is the Chair of The Better Planet Project, the University of Guelph's $200-million life sciences research funding campaign. Mr. Burt also brings extensive experience in Russia, having led Kinross' profitable $3 billion investment into Russian operations. "We are very pleased to have a board member with Tye's experience step into the role of Chair," stated Scott Larson.
UrtheCast is also pleased to welcome a new Board member, Greg Nordal, President and CEO of Nelson Education Ltd. "He is an excellent addition to our Board, and we are very pleased he was available to take on this important role with UrtheCast," explained Scott Larson.
Mr. Nordal brings comprehensive experience leading content management companies in the publishing and business information industries. He has led Nelson Education, Canada's leading educational content provider, since 2008. Mr. Nordal's expansive executive history also includes Dun & Bradstreet (D&B) Corporation (NYSE:DNB), a premier provider of online business information, as President of Canadian and International business. Mr. Nordal is also experienced in the tech-space sector, having served as a past director of MacDonald Dettwiler and Associates Ltd. (TSX:MDA).
More information on UrtheCast Corp. can be found at www.UrtheCast.com.
About UrtheCast Corp.
UrtheCast Corp. is a Vancouver-based technology company that is developing the world's first near-live HD video feed of Earth, from space. Working with renowned aerospace partners from across the globe, UrtheCast is building, launching, installing, and will operate two cameras on the Russian segment of the International Space Station. Video 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. UrtheCast is in the final stages of completing the assembly of two cameras that are expected to launch into space in late 2013.
Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker UR.
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 development, schedule of cameras suitable for mounting on the ISS, the expected launch date for UrtheCast's cameras to be delivered to the ISS, plans to operate camera components on, and stream video footage from, the ISS, and proposed image and video product offerings. 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 the UrtheCast's actual results, performance or achievements to be materially different from those expressed or implied thereby, including, but not limited to, technology changes, reliance on key personnel, the potential for conflicts of interest among certain officers, directors or promoters with certain other projects, competition, delays in launch schedules, unexpected changes in Russian or Canadian government policies, as well as those factors discussed in the section entitled "Risk Factors" in Appendix "A" of UrtheCast (formerly Longford Energy Inc.) and Earth Video Camera Inc.'s Joint Information Circular (the "Circular") dated May 10, 2013, which is 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 Circular, 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 securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.
SOURCE: UrtheCast Corp.
For further information:
Scott Larson, CEO