MDA Space's $10M Investment in Maritime Launch Advances Canada's Orbital Capabilities
A New Era for Canada's Space Industry
In a landmark development for the Canadian space sector, MDA Space Ltd. (TSX: MDA) has fortified its presence by investing $10 million in Maritime Launch Services Inc. (Cboe CA: MAXQ) as an equity owner and strategic partner. This investment, made at a rate of $0.223 per share, marks a pivotal moment for advancing Canada’s sovereign launch capabilities.
Strengthening Sovereign Capabilities
The partnership is poised to significantly enhance Canada’s position in the global launch services market, creating a competitive alternative and solidifying the country's domestic space value chain. The funding is earmarked for the development of Spaceport Nova Scotia, which is Canada’s first commercial orbital launch complex, located near Canso on the Atlantic coast. This facility aims to provide reliable launch services for commercial, civil, government, and defense sectors alike.
MDA Space's President and CEO, Mike Greenley, emphasized the importance of this joint venture, stating that it will create a
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