Government of Canada Selects Spaceport Nova Scotia as Dedicated Sovereign Launch Site for National Defence

Rhea-AI Summary

Maritime Launch Services (MAXQF) announced a ten-year lease with the Government of Canada Department of National Defence for a dedicated launch pad at Spaceport Nova Scotia.

The contract is retroactive to April 1, 2025, totals $200 million over the term, pays $20 million per year, and expects initial pad readiness by end of 2026.

Positive

• Ten-year, $200 million lease with Department of National Defence
• $20 million per year in predictable revenue starting with a first payment before March 31, 2026
• ~90% of rental to be spent in Canada supporting domestic industry and jobs
• Initial operational readiness for the dedicated launch pad expected by end of 2026

Negative

• Company responsible for completing and maintaining spaceport build-out and infrastructure
• Revenue concentration risk from a single large tenant representing significant long‑term cash flow

Landmark Ten-Year Defence Agreement Establishes Dedicated Launch Infrastructure at Spaceport Nova Scotia

HALIFAX, NS, March 16, 2026 /PRNewswire/ - Maritime Launch Services Inc. (Cboe CA: MAXQ) (OTCQB: MAXQF) today welcomed the Department of National Defence (DND) as a tenant at Spaceport Nova Scotia, marking a historic milestone in establishing Canada's sovereign launch capability from Canadian soil.

Under the agreement announced by the Government of Canada, DND will lease a dedicated launch pad at Spaceport Nova Scotia to support the operational needs of DND, the Canadian Armed Forces, and Canada's long-term sovereign access to space.

"Today, we build on Canada's proud legacy as a nation of innovators, explorers, and builders.' stated The Honourable David J. McGuinty, Canada's Minister of National Defence, during an announcement event at the David Florida Laboratory in Ottawa today. "With this step, we are not only advancing our capabilities here on Earth—we are reaffirming our place among the spacefaring nations shaping the future beyond it. Because in the decades ahead, our security, our prosperity, and our sovereignty will increasingly extend beyond our atmosphere. Canada will be there. Ad Astra Defendimus."

The agreement provides DND with access to a dedicated launch pad at Spaceport Nova Scotia for a ten-year term retroactive to April 1, 2025, representing a total contract value of $200 million over the term. Under the agreement, Maritime Launch will receive $20 million per year, with approximately 90 percent of gross rental payments spent in Canada to support domestic industry and workforce development. Importantly, the timing of payments supports near-term cash flow as the spaceport advances toward operations. The first $20 million cash payment is due before March 31, 2026, followed by $5 million payments at the end of each fiscal quarter thereafter.

Maritime Launch is responsible for maintaining and ensuring the facilities and continuing the build out of the spaceport, including additional launch pads, a launch control centre, payload integration and testing facilities, and supporting infrastructure. The dedicated launch pad is expected to reach initial operational readiness by the end of 2026.

"Spaceport Nova Scotia is ready to serve as Canada's choice for sovereign orbital launch capability. We are readying the site to welcome launch customers from around the world for commercial, civil, and defence missions. Located on Canada's Atlantic coast, the spaceport offers safe over-ocean launch corridors and access to highly sought-after orbital inclinations, providing a unique capability that only a limited number of global launch locations can support," said Stephen Matier, President and CEO, Maritime Launch Services Inc. "Spaceport Nova Scotia helps address a global launch capacity bottleneck, where demand for access to orbit continues to outpace available launch infrastructure. By enabling reliable launch access from Canadian soil, Spaceport Nova Scotia will help unlock the growth of the Canadian space sector and create lasting economic opportunity for Canadians. This agreement represents a long-term investment in Canadian infrastructure, Canadian workers, and Canadian communities, including the creation of high-quality jobs in rural regions such as the Municipality of the District of Guysborough, home to Spaceport Nova Scotia. We are proud to support missions that strengthen Canada's security and sovereign access to space while helping build a strong, competitive Canadian space economy."

This agreement delivers on the Government of Canada's Defence Industrial Strategy, and investments announced in Budget 2025–2026, to establish a sovereign space launch capability by anchoring critical launch infrastructure in Canada, strengthening domestic defence capacity, supporting Canadian industry and skilled workers, and ensuring the Canadian Armed Forces have reliable, dedicated access to space-based capabilities. At today's event in Ottawa, Minister McGuinty highlighted Canada's firm commitment to NATO, announcing Canada's intention to become a full member of the NATO STARLIFT initiative. STARLIFT aims to build a more resilient, responsive, and cost‑effective network of space launch capabilities to enable NATO allies to launch assets at short notice from spaceports across the Alliance.

Spaceport Nova Scotia is being developed as a dual-use launch facility supporting both commercial space activity and government missions, welcoming launch customers from around the world while advancing Canada's national resilience and broader space, defence, and security objectives.

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 dual-use commercial spaceport designed to support both civil and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location. Spaceport Nova Scotia is Canada's first commercial orbital launch complex, enabling launch vehicles to place satellites into low Earth orbit.

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

https://x.com/maritimelaunch
https://www.linkedin.com/company/maritimelaunch

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. The forward-looking statements included in this press release include (without limitation) statements regarding the continued lease by DND of a launch pad at Spaceport Nova Scotia and the term of such lease, the use and impact of DND's access to the launch pad, development and growth of the space sector in Canada, fees payable to Maritime Launch and the timing of such fees, and the future build-out of the Spaceport Nova Scotia facility. Readers are 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. Although Maritime Launch has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be factors that cause results not to be as anticipated, estimated or intended. Such forward-looking statements are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. 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.   Risks and uncertainties that may cause such differences include but are not limited to: risks related to Maritime Launch's strategy going forward; capital requirements; risks related to interest rates and inflationary pressures on the cost of doing business; geopolitical events and changes, availability of third-party contractors and service providers,  and other risks inherent in the industry in which Maritime Launch operates.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect Maritime Launch's expectations as of the date hereof and are subject to change thereafter. Maritime Launch 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 is the value and term of the DND lease at Spaceport Nova Scotia (MAXQF)?

The lease is for ten years with a total contract value of $200 million. According to Maritime Launch, payments equal $20 million per year, retroactive to April 1, 2025, with the first payment due before March 31, 2026.

When will the dedicated launch pad for DND at Spaceport Nova Scotia reach operational readiness?

The dedicated launch pad is expected to reach initial operational readiness by the end of 2026. According to Maritime Launch, the company will continue build‑out work including pads, control centre, and payload facilities ahead of that milestone.

How are DND payments to MAXQF scheduled and how will they support cash flow?

The first $20 million payment is due before March 31, 2026, then $5 million each fiscal quarter. According to Maritime Launch, this timing supports near‑term cash flow as the spaceport advances toward operations.

What portion of DND rental payments will benefit the Canadian economy under the MAXQF agreement?

Approximately 90 percent of gross rental payments will be spent in Canada to support domestic industry and workforce development. According to Maritime Launch, this is intended to create Canadian jobs and local economic activity.

What responsibilities does Maritime Launch retain under the DND lease at Spaceport Nova Scotia?

Maritime Launch is responsible for maintaining facilities and continuing spaceport build‑out, including additional pads, launch control, and payload integration facilities. According to Maritime Launch, these obligations are part of delivering sovereign launch capability from Canadian soil.