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VANCOUVER, June 19, 2018 /CNW/ - UrtheCast Corp. (TSX: UR) ("UrtheCast" or the "Company") today announced the appointment of Don Osborne as Chief Executive Officer. Mr. Osborne is a seasoned technology executive, having spent more than 30 years in the satellite, space and defence industries. Most recently, from 2009 to 2017 he was a senior executive at MDA, a Maxar Company, including as President of the MDA Information Systems Group where he was responsible for MDA's Canadian businesses. MDA is a leader in space robotics, satellite antennas and subsystems, and surveillance systems, among other business areas. Mr. Osborne will assume his role with UrtheCast on July 5, 2018.
Said Adam Vore, UrtheCast's Chairman: "We are extremely excited to have a leader of Don's experience and industry expertise join the Company. He brings the technical and industry knowledge, and demonstrated management excellence that will lead UrtheCast through its next phase of development. With a strong and capable management team, supported by an aligned Board of Directors, we are confident that UrtheCast is well-positioned to create value."
Said James Topham, UrtheCast Director and chair of the Board's search committee: "The Board conducted an international search process and interviewed a number of excellent candidates. We are unanimous in our view that Don is exceptionally qualified to lead UrtheCast and build on the Company's potential."
Mr. Osborne has spent his entire career in the satellite and aerospace industry. Prior to his roles with MDA, he served as the President of Advantech Satellite Networks Inc. from 2006 to 2009. Mr. Osborne has also served as Vice President of EMS Technologies Inc. and Senior Vice President and General Manager for the EMS Satellite Networks group, a part of the Space & Technology/Montreal operations from 1999 to 2006. He joined EMS Technologies Inc. in January 1999, when it acquired the Spar Satellite Products business, where Don had served as Vice President of Marketing and other positions commencing in 1983 as a Mechanical Engineer. Mr. Osborne is a Director of 5N Plus Inc., and until recently served on the Board of Directors of the Aerospace Industries Association of Canada. Don holds Bachelor degree in Mechanical Engineering and an MBA from McGill University in Montreal, Quebec.
Said Mr. Osborne: "UrtheCast has a well-deserved reputation for innovation in its products and services, and I look forward to working with the UrtheCast team and its partners around the world to build on the potential that exists within the Company."
UrtheCast Annual General and Special Meeting of Shareholders
UrtheCast would also like to take the opportunity to remind shareholders that they have until 10:30 a.m. (Vancouver Time) on June 21, 2018 to vote their shares for the upcoming general annual and special meeting of shareholders to be held at 10:30 a.m. on June 25, 2018.
The board of directors unanimously recommends a vote FOR all resolutions at the meeting.
YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU OWN. PLEASE VOTE TODAY.
Shareholder Request for Voting Assistance
Shareholders who have questions or require voting assistance may contact UrtheCast's proxy solicitor:
Laurel Hill Advisory Group North America Toll-Free: 1-877-452-7184 Outside North America: 416-304-0211 Email: [email protected]
UrtheCast Corp. is a Vancouver-based technology company that serves the rapidly evolving geospatial and geoanalytics markets with a wide range of information-rich products and services. The Company operates Earth Observation (EO) sensors in space, through its subsidiary Deimos Imaging, S.L.U., including two satellites, Deimos-1 and Deimos-2, to produce imagery data for partners and customers in multiple markets. UrtheCast processes and distributes imagery data and value-added products on behalf of the PanGeo Alliance, a network of seven satellite operators with a combined 13 medium- and high-resolution EO sensors. UrtheCast is developing a satellite constellation designed to capture high-quality, medium resolution optical imagery of the Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily™. UrtheCast is also developing the world's first fully-integrated constellation of sixteen multispectral optical and SAR satellites, called OptiSAR™. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker "UR".
This release contains certain information which, as presented, constitutes "forward-looking information" or "forward-oriented financial 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", "plan", "explore" and "expect", statements that an action or event "may", "should" or "will" be taken or occur, or other similar expressions. Such statements reflect UrtheCast's current views with respect to future events. Such statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by UrtheCast as at the date of this press release, are inherently subject to significant uncertainties and contingencies. Many factors could cause UrtheCast's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements; as well as those factors and assumptions discussed in UrtheCast's annual information form dated April 2, 2018, which is available under UrtheCast's SEDAR profile at www.sedar.com. UrtheCast cautions readers that such factors and uncertainties are not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual results, performance or achievements may vary significantly from those expected. There can be no assurance that the actual strategies, results, performance, events or activities anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company.
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: Sai Chu, Chief Financial Officer, UrtheCast Corp., +1 (604) 669-1788