Export Development Canada Commits $10 Million to Maritime Launch to Advance Spaceport Nova Scotia Toward Orbital Launch

Rhea-AI Summary

Maritime Launch (Cboe CA: MAXQ / OTCQB: MAXQF) announced that Export Development Canada (EDC) has provided a $10 million senior credit facility to accelerate development of Spaceport Nova Scotia and advance toward a first orbital launch, dated October 24, 2025. The facility includes an initial $5 million advance at closing with the remaining $5 million available by drawdown to fund launch pad and infrastructure construction. EDC framed the financing as strategic support for Canada’s sovereign launch capability and national defence, while Maritime Launch said the funding will help prepare the site near Canso, Nova Scotia for future orbital missions.

Positive

• $10 million senior credit facility from Export Development Canada
• Initial $5 million advance provided at closing
• Funding earmarked for launch pad and infrastructure development
• EDC support cited as advancing sovereign launch capability

Negative

• Outstanding facility adds $10 million of debt-like obligations
• Remaining $5 million contingent on future drawdowns tied to construction

HALIFAX, NS, Oct. 24, 2025 /PRNewswire/ - Maritime Launch Services Inc. (Cboe CA: MAXQ) (OTCQB: MAXQF) ("Maritime Launch" or "the Company") is pleased to announce that Export Development Canada ("EDC") has provided the Company with a $10 million senior credit facility to accelerate the development of Spaceport Nova Scotia and advance toward first orbital launch.

"This commitment by EDC marks another major step forward for Maritime Launch and Canada's growing commercial space sector," said Stephen Matier, President and CEO, Maritime Launch Services. "EDC's support helps us advance the buildout of Spaceport Nova Scotia as we prepare for orbital launch operations. Together, we're demonstrating that Canada can achieve sovereign launch capability, an essential milestone in building a competitive and resilient space ecosystem in Canada."

EDC is Canada's export credit agency, established in 1944 to help Canadian businesses of all sizes grow globally through trade financing, insurance, and market expertise. As part of its corporate strategy, EDC is committed to allocating strategic risk capital to developing trade-enabling infrastructure to help Canada become a more resilient, competitive, and secure global trading nation. EDC's support of Maritime Launch as it develops Spaceport Nova Scotia will significantly strengthen Canada's position in the defence and security sector, where space is an increasingly vital domain.

"EDC is focused on deploying our capital to sectors and projects of strategic national importance to Canada, which is why we are proud to support Maritime Launch as it develops Canada's first commercial spaceport, an important project that will advance Canada's position in the global space economy," said Alison Nankivell, President and CEO, EDC. "Our financing support for Spaceport Nova Scotia underscores our commitment to helping Canada's economy become more resilient and competitive on the world stage and to fostering the growth of innovative Canadian companies. This critical infrastructure will help Canada achieve sovereign launch capability for satellites, which will support a range of needs such as defence and security, telecommunications, weather monitoring and more."

The terms of the agreement provide development funding for Spaceport Nova Scotia's next phase of construction, including launch pad and infrastructure development required to support future orbital missions.

"Canada's leadership in space innovation is driven by strategic investments that strengthen our domestic capabilities and open new frontiers for growth. By advancing our space sector, we are building an ecosystem that supports good jobs, fosters technological excellence, and enhances our nation's economic resilience and security. These efforts ensure that Canadians and Canadian businesses can thrive and lead in the global space economy," said The Honourable Maninder Sidhu, Minister of International Trade.

Located near Canso, Nova Scotia, Spaceport Nova Scotia is being developed to provide reliable and cost-effective satellite launch services for Canadian and global clients.

Jaime Battiste, Member of Parliament for Cape Breton-Canso-Antigonish, stated: "This support is proof that Nova Scotia is becoming a hub for innovation, technology, and opportunity. The continued progress at Spaceport Nova Scotia will bring new economic activity to our rural communities, inspire young people, and position Canada as a leader in the global space ecosystem."

Spaceport Nova Scotia will bring significant economic benefits to Nova Scotia and Atlantic Canada through job creation, investment attraction, and the growth of a robust local supply chain supporting Canada's space industry.

The $10 million senior credit facility includes an initial advance of $5 million at closing, with the remaining balance available through drawdown requests aligned with ongoing development and construction costs. Additional details on the credit agreement will be included with the Company's SEDAR+ filing.

About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.

Media Contact
Export Development Canada
1-888-222-4065 
media@edc.ca

About Maritime Launch Services
Maritime Launch (Cboe CA: MAXQ, OTCQB: MAXQF) is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations from a single site. Spaceport Nova Scotia will allow launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada's first commercial orbital launch complex.

For more information about Maritime Launch and Spaceport Nova Scotia, visit www.maritimelaunch.com

Forward Looking Statements 

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.   

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the timing of spaceport construction and ability to launch small- medium class vehicles.  

Forward-looking statements in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop revenue-generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company's ability to finance its operations until profitability can be achieved and sustained.   

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; the inability of the Company to provide the enumerated services; and availability of launch vehicles.      

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.  

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.  

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SOURCE Maritime Launch Services Inc.

FAQ

What did Maritime Launch (MAXQF) announce on October 24, 2025?

Maritime Launch announced a $10 million senior credit facility from Export Development Canada to fund Spaceport Nova Scotia development.

How much of the EDC facility did Maritime Launch (MAXQF) receive immediately?

An initial $5 million advance was provided at closing.

What will the EDC financing for Maritime Launch (MAXQF) be used for?

The financing will support launch pad and infrastructure development required for future orbital missions.

Does the EDC facility for Maritime Launch (MAXQF) change Canada’s launch capabilities?

EDC described the funding as advancing Canada’s sovereign launch capability and strengthening defence and security space capacity.

Where is Spaceport Nova Scotia being developed for Maritime Launch (MAXQF)?

Spaceport Nova Scotia is being developed near Canso, Nova Scotia to provide satellite launch services.

Will Maritime Launch (MAXQF) disclose more details about the credit agreement?

Additional details on the credit agreement will be included in the company's SEDAR+ filing.