CAMBRIDGE, ON – June 23, 2015- COM DEV International (TSX:CDV) and exactEarth Ltd. announced today that exactEarth has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec) in connection with a proposed initial public offering of its common shares (the "Offering").
exactEarth is jointly owned by COM DEV and Hisdesat Servicios Estrategicos S.A. (the "Selling Shareholders"). The Offering contemplates a treasury offering of common shares by exactEarth, and, if the over-allotment option granted to the underwriters is exercised, a secondary offering of common shares by the Selling Shareholders.
The Offering is being made through a syndicate of underwriters led by Canaccord Genuity Corp. with other syndicate members to be named.
A preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each province and territory of Canada (other than Quebec). The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus will be available on SEDAR at http://www.sedar.com or from the underwriters named in the preliminary prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities until a receipt for the final prospectus has been issued. Completion of the Offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals.
The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. State securities laws and may not be offered or sold, directly or indirectly, within the United States (as defined in Regulation S under the U.S. Securities Act) other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities within the United States.
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its establishment in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite-AIS (''S-AIS'') and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth has deployed an operational data processing supply chain involving a constellation of satellites, receiving ground stations, patented decoding algorithms and advanced "big data" processing and distribution facilities. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets. For more information, visit exactearth.com.
About COM DEV
COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. COM DEV has a staff of more than 1,250, annual revenues of over $200 million, and facilities in Canada, the United Kingdom, the United States, India and China. COM DEV designs, manufactures and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. COM DEV has won contracts to supply its equipment on over 950 spacecraft.
Hisdesat was founded in 2001 as operator of government services by satellite to act primarily in the areas of defense, security, intelligence and foreign affairs. Since 2005, the company provides secure satellite communications to government agencies of different countries and is currently developing new satellites in two areas: Earth Observation and Information of the worldwide maritime traffic by satellite (AIS). More information: www.hisdesat.es
President & CEO
Tel: +1 519-622-4445 ext. 5870
Director, Investor Relations & Communications
COM DEV International
Tel: +1 519-622-2300 ext. 2844
This news release may contain certain forward-looking statements that involve risks and uncertainties. Such risks and uncertainties include, but are not limited to, failure to complete the initial public offering of shares of exactEarth, and the factors discussed under "Risk Factors" in the preliminary prospectus of exactEarth dated June 23, 2015. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by COM DEV or exactEarth and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits COM DEV or exactEarth will derive there-from.
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