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Urthecast Corp T.UR


Primary Symbol: LFDEF

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.


GREY:LFDEF - Post by User

Comment by Invest2020on Nov 12, 2020 1:57pm
281 Views
Post# 31886212

RE:RE:Things getting interesting

RE:RE:Things getting interestingI suspect we will hear something in a new monitors report next week. 

Phase I: Solicitation and Submission of Non-Binding LOI’s 43. Phase I of the Proposed SISP includes the following stages: a) Potential Bidders that have executed an NDA will be provided a copy of the binding agreement originating from Stalking Horse Offer (the “Definitive Stalking Horse Agreement”); b) Potential Bidders will have the opportunity to complete preliminary due diligence on the assets of the Petitioners with respect to a sale or investment in: i. the entirety of UrtheCast Group; ii. the Designated Assets pursuant to the Stalking Horse Offer; or iii. the Other Core Assets. c) non-binding letters of intent (each a “Non-Binding LOI”) to be submitted on or before November 13, 2020; and 12 d) review and assessment of Non-Binding LOI’s and qualification of potential purchasers for participation in Phase II. Phase II: Submission of Sale Agreement or Investment/Restructuring Agreement 44. Phase II of the Proposed SISP includes the following stages: a) Potential Bidders that submitted qualified Non-Binding LOI’s will be provided the opportunity to perform further due diligence; b) Potential Bidders will prepare and submit a final binding proposal (“Final Agreement”) in the form of a purchase and sale agreement or an investment/restructuring agreement on or before November 18, 2020; and c) a period for Review and Assessment of the Final Agreements by the Petitioners, in consultation with the Monitor.
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