Post by
barneyj44 on Nov 01, 2018 10:51am
ExactEarth receives first tranche of funding today
I hope some orders follow suite shortly , were back down to yearly lows already, the party didn't last too long.... CAMBRIDGE, ON, Nov. 1, 2018 Funding is the first tranche of a $7.2 million investment to be made over three-years CAMBRIDGE, ON, Nov. 1, 2018 /CNW/ - exactEarth Ltd. ("exactEarth" of the "Company") (TSX:XCT), a leading provider of Satellite-AIS data services announces that it has received the first tranche of funding from the Government of Canada's Strategic Innovation Fund program, which promotes Canadian innovation and economic growth. exactEarth received $1.4 million, which is a reimbursement of eligible expenses incurred between February 13, 2018 and September 30, 2018 that were related to the development and enhancement of exactView RT, the only global real-time Satellite-AIS service in world. image: https://mma.prnewswire.com/media/778298/exactEarth_Ltd__exactEarth_receives__1_4_million_of_SIF_program.jpg exactEarth Ltd. (CNW Group/exactEarth Ltd.) exactEarth expects, subject to project timelines and applied resources, to claim a further reimbursement of approximately $1.6 million in the first year of the funding, and approximately $2.2 million and $2.0 million in the second and third years of funding, respectively. Further details regarding this initiative can be found at the Company's website in the press release titled "Government of Canada to Invest $7.2 Million in exactEarth" that was released on October 19, 2018.