VANCOUVER, Nov. 16, 2016 /PRNewswire/ - UrtheCast Corp.
(TSX:UR) ("UrtheCast" or the "Company") today announces that it has
been awarded the #1 spot on Deloitte's 19th annual Technology Fast
50 program. This prestigious designation has been awarded to
UrtheCast for being the fastest growing technology company in
Canada in terms of revenue growth
over the period 2012 to 2015.
In assessing the factors that led to the company's dramatic
revenue growth over the period, UrtheCast's President and CEO
Wade Larson credits the company's
constant focus on innovation, strong support and commitment from
the company's customers, and the incredible passion and dedication
of UrtheCast's employees.
"Just as Canada's tech sector
is in a period of dramatic growth and innovation, the same is true
for the global space sector, where UrtheCast is strongly positioned
as a disruptive player in the rapidly-growing markets of Earth
Observation and 'big data' geoanalytics. Winning the Deloitte Fast
50 award for fastest revenue growth is a huge achievement," said
Larson. "We're delighted and humbled to have won."
"Fast 50 companies are the cutting-edge innovators leading the
technology industry in Canada,"
said Anders McKenzie, Technology,
Media and Telecommunications Managing Partner for Deloitte in
Canada. "Their bold vision,
unrivaled growth and true commitment to innovation allow them to
not only improve today's world, but also shape tomorrow's."
To qualify for the Deloitte Technology Fast 50 ranking,
companies must have been in business for at least four years, have
revenues of at least $5 million, be
headquartered in Canada, own
proprietary technology, conduct research and development activities
in Canada and invest a minimum of
five percent of gross revenues in R&D.
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 is downlinked to ground stations across
the planet and displayed on the UrthePlatform, 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
OptiSAR™, in addition to its proposed UrtheDaily™ constellation,
which the Company believes will together revolutionize monitoring
of our planet with high-quality, medium and high-resolution, and
high-coverage 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'.
About Deloitte's 2016 Technology Fast 50™
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards
program. Celebrating business growth, innovation and
entrepreneurship, the program features three distinct categories
including the Technology Fast 50 Ranking, Companies-to-Watch Awards
(early-stage Canadian tech companies in business less than four
years, with the potential to be a future Deloitte Technology Fast
50 candidate) and the Leadership Awards (companies that demonstrate
technological leadership and innovation within the industry.)
Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of
Montreal, Bennett Jones, OMERS Ventures and Vistara
Capital Partners. For further information, visit www.fast50.ca.
Forward Looking Information
This release contains certain information which, as
presented, constitutes "forward-looking 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", and
"expect", 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; its future growth and
operations plans, 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 and
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;
interruptions to or failures of UrtheCast's infrastructure; legal
and regulatory changes, 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.
For more information, visit UrtheCast's website at
www.urthecast.com.
SOURCE UrtheCast Corp.