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Committed Revenue Backlog for UrtheDailyTM Constellation

By [email protected] - 6th December 2017 - 10:21

UrtheCast Announces Committed Revenue Backlog for UrtheDailyTM Constellation in Excess of C$100 Million ~ Multi-year revenue commitments support development of disruptive, best-in-class UrtheDailyTM Constellation

Vancouver, December 5th, 2017 - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company"), is pleased to announce it has now signed binding data subscription agreements for the UrtheDailyTM Constellation totalling in excess of C$100M. Consisting of three anchor customers and multiple incremental customers, these long-term revenue commitments contribute to a consistent UrtheDailyTM revenue stream over contract durations of between four and seven years.

“These binding revenue commitments from a diverse group of market leaders demonstrate a widespread recognition of the UrtheDailyTM Constellation as a best-in-class technology and a clear game-changer in the Earth Observation industry,” stated UrtheCast’s President and CEO, Wade Larson. “We have now grown the stable, highly predictable revenue stream underlying the UrtheDailyTM business to a total backlog of more than C$100 million. Having reached this important milestone, and with our UrtheDailyTM financing package expected to close by year end, we are in an excellent position to confidently move forward with the development of the UrtheDailyTM Constellation and our goal of becoming the pre-eminent provider for the next generation of Earth Observation data and analytics services.”

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