"Fiscal 2015 was a tremendous year for UrtheCast," explained Wade Larson, CEO and co-founder. "The acquisition of Deimos Imaging and the advancement of the OptiSAR Constellation were among the many highlights for the company. Our people are ready to show why we believe that our plans will change the Earth Observation and Geospatial Data Analytics markets for years to come. Our team is very much looking forward to providing an in-depth review of the Company, its key initiatives, strategy and vision during our first Capital Markets Day later today. I encourage everyone that cannot attend our event to watch the live stream, a link for which can be found on our website."
Capital Markets Day
In lieu of holding a conference call discussing these financial results, the Company will be holding a Capital Markets Day. The event will be held today at the TMX Broadcast Centre Gallery from 1:30 PM to 4:00 PM Eastern Daylight Time. Live web stream details will be made available on the Company's website ( https://www.urthecast.com/), and a recorded version will be archived on the site following the event.
This event is expected to provide in-depth reviews of the Company's strategy, its key technologies, the competitive and industry landscapes, and the expected future market opportunities. In addition to presentations from the executive, engineering, web and finance teams, participants can benefit from direct and informal access to the Company's management throughout the event.
ABOUT URTHECAST CORP.
UrtheCast Corp. is a Vancouver-based technology company that serves the rapidly evolving geospatial and geoanalytics markets with a wide range of information-rich products and services. The Company currently operates four Earth Observation sensors in space, including two cameras aboard the International Space Station and two satellites, Deimos-1 and Deimos-2. Imagery and video data captured by these sensors are downlinked to ground stations across the planet and displayed on UrtheCast's cloud-based web platform, or distributed directly to partners and customers. UrtheCast is also developing and anticipates launching the world's first fully-integrated constellation of multispectral optical and SAR satellites, called OptiSARTM, which the Company believes will revolutionize monitoring of our planet with high quality, high resolution, and high revisit imagery in all weather conditions, any time of day. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker 'UR'.
For more information, visit UrtheCast's website at www.urthecast.com.
Non-IFRS Financial Measures
The Company prepares its financial statements in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board. This release includes certain non-IFRS financial measures, such as non-IFRS revenues, EBITDA and adjusted EBITDA. The Company uses these non-IFRS financial measures as supplemental indicators of its operating performance and financial position. These measures do not have any standardized meanings prescribed by IFRS and therefore are unlikely to be comparable to the calculation of similar measures used by other companies, and should not be viewed as alternatives to measures of financial performance calculated in accordance with IFRS or considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS financial measures should be read in conjunction with the Company's financial statements and accompanying MD&A.
Forward Looking Information
This release contains certain information which, as presented, constitutes "forward-looking information" or "forward-oriented financial information" within the meaning of applicable Canadian securities laws. Forward-looking information involves statements that relate to future events and often addresses expected future business and financial performance, containing words such as "anticipate", "believe", "plan", "estimate", "expect" and "guidance", statements that an action or event "may", "might", "could" or "will" be taken or occur, or other similar expressions and includes, but is not limited to, statements relating to: UrtheCast's expectations with respect its current sensors and proposed OptiSAR™ constellation; financial guidance for the 2016 financial year; anticipated cash and financing needs; its plans for and timing of expansion of its product offering and value-added services; its future growth and operations plans; the acceptance by its customers and the marketplace of new satellite imaging content, technologies and solutions; its ability to attract new customers; its competitive position and its expectations regarding competition; regulatory developments and the regulatory environments in which it operates; and anticipated trends and challenges in its business and the markets in which it operates. Such statements reflect UrtheCast's current views with respect to future events. Such statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by UrtheCast, are inherently subject to significant uncertainties and contingencies. Many factors could cause UrtheCast's actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others: any delays or failures in the design, development, construction, launch and operational commissioning of the proposed OptiSAR™ constellation; the Company being unable to convert the Memoranda of Understanding in respect of funding of the OptiSAR™ constellation into binding, definitive agreements failures aboard the International Space Station ("ISS") or the Deimos-1 or Deimos-2 satellites; failure to obtain, or loss of, regulatory approvals; interruptions to or failures of UrtheCast's infrastructure; market acceptance of UrtheCast's current and proposed products and services; the addition and successful operation of new features, and growth of revenue, on UrtheCast's web platform; uncertainties and assumptions in UrtheCast's revenue forecasts; legal and regulatory changes; risks that UrtheCast may be unable to raise additional financing should its expected revenues not materialize; UrtheCast's success in expanding sales into new markets; competition in UrtheCast's industry; as well as those factors and assumptions discussed in UrtheCast's annual information form dated March 29, 2016, (the "AIF"), which is available under UrtheCast's SEDAR profile at www.sedar.com. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, in the AIF, and as disclosed from time to time on UrtheCast's SEDAR profile. UrtheCast undertakes no obligation to update forward-looking statements except as required by Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.
SOURCE UrtheCast Corp.
Jeff Rath, EVP, Corporate Finance and Strategy
Phone: +1 (604) 669-1788