UrtheCast Corp. Closes Financing For Gross Proceeds Of C$17,250,000


VANCOUVER, April 16, 2015 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company")  is pleased to announce that it has closed its previously-announced bought-deal public offering of 8,625,000 common shares of the Company (the "Offering"). The common shares were issued at a price of $2.00 per common share, for aggregate gross proceeds of C$17,250,000, which included the exercise of the full amount of the over-allotment of 1,125,000 common shares. UrtheCast intends to use the net proceeds from the Offering to fund the Company's growth strategy and for general corporate purposes.

The Offering was completed through a syndicate of underwriters co-led by Canaccord Genuity Corp. and Clarus Securities Inc. and including Cormark Securities Inc. and Dundee Securities Ltd. (collectively, the "Underwriters"), pursuant to the terms of an underwriting agreement entered into between the Company and the Underwriters.

The securities described above were offered pursuant to a prospectus supplement filed on April 10, 2015 (the "Supplement") to a corresponding base shelf prospectus dated April 7, 2014 (the "Prospectus"), filed with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario.

This press release does not constitute an offer of securities for sale in the United States. The common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

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 expects to operate its Ultra HD video camera, Iris, on the International Space Station ("ISS") alongside its Medium-Resolution Camera ("MRC") which reached Initial Operation Capability ("IOC") in 2014. 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'.

For more information visit UrtheCast's website at www.urthecast.com.

Forward-looking Information

This press 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 an action or event "will" be taken or occur (or similar language) and includes statements about UrtheCast's intended use of proceeds.  Forward-looking statements are subject to various known and unknown 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 from those expressed or implied thereby, including, but not limited to continued commercial relationships with UrtheCast's ISS partners, the ability of UrtheCast's ISS assets to continue functioning properly, unexpected changes in international government policies as well as those factors discussed in the Company's annual information form dated March 20, 2015, (the "AIF"), the Prospectus and the Supplement 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, in the Supplement and in the Prospectus, and as otherwise disclosed from time to time on UrtheCast's SEDAR profile. UrtheCast undertakes no obligation to update forward-looking statements except as may be required by applicable 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


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