Urthecast Corp T.UR

Primary Symbol: LFDEF

Technology Software - Application

UrtheCast Corp is a Vancouver-based technology company that serves the geospatial and geo-analytics markets with a variety of products and services. The company operates earth observation (EO) sensors in space, including two satellites, Deimos-1 and Deimos-2, to produce imagery data that is displayed on UrtheCast's cloud-based web platform and distributed directly to partners and customers. The company's primary source of revenue is from earth observation imagery and engineering. Geographically the company offers its services to Europe, Russia, Middle East, Africa, South Asia, and the Americas. Its only operating segment being the provision of the Earth observation imagery, geo-analytics products and services, and engineering and value-added services.

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Urthecast Corp

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Post by Refrac1on Oct 18, 2018 7:38am

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Post# 28825358

UrtheCast Announces the Signing of new US$30M Contract

UrtheCast Announces the Signing of new US$30M Contract for UrtheDaily™ Data Services

PRESS RELEASE PR Newswire

Oct. 18, 2018, 07:00 AM

VANCOUVER, Oct 18, 2018 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company") today announces that it has signed a binding contract for US$30 million to provide data from the Company's planned UrtheDaily satellite Constellation.

The contract is with Moscow-based TerraTech JSC, a commercial provider of Earth observation and geoinformation services and a subsidiary of the Russian Space Agency, Roscosmos. The contract is for US$10 million annually over the first three years of UrtheDaily^™ operations, with an option for an additional two years (US$20 million above the initial contract).

This contract brings UrtheDaily's annual binding contractual commitments to US$34 million and total revenue backlog to US$255 million.

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