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 Europe
- 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 UrtheCast's imagery
- 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 satellites."
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 forward-looking statements.
SOURCE: UrtheCast Corp.
For further information:
Scott Larson, CEO