Crown Land Lease Approved for the Development and Operation of Spaceport Nova Scotia

Canso, Nova Scotia, Canada - Today, Maritime Launch Services (Nova Scotia) Ltd. (NEO: MAXQ) is pleased to announce that the Company has signed a crown land lease with the Province of Nova Scotia for land to develop and operate Spaceport Nova Scotia.

The Company is leasing approximately 334.5 acres of crown land near the rural communities of Canso, Little Dover and Hazel Hill.

“Acquiring the land lease is a huge milestone for Maritime Launch and the development of Spaceport Nova Scotia,” says Stephen Matier, President and CEO, Maritime Launch Services. “This land lease cements Nova Scotia’s place as a leader in Canada’s growing space industry. We’re excited to build Spaceport Nova Scotia, but even more excited to build our team in Canso, Hazel Hill, and Little Dover, creating good jobs in the growing space sector”.

The lease granted by the Province of Nova Scotia is a 20-year term with an option to renew for another 20 years, should the Company comply with the terms and conditions outlined in the lease. The purpose of the lease is to use the Crown Lands for the development of a private commercial space launch site consisting of a horizontal integration facility, launch pad, and related infrastructure to support launch activities.