UrtheCast Announces Voting Results of 2017 Annual General Meeting

VANCOUVER, May 5, 2017 /PRNewswire/ - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company"), in accordance with the requirements of the Toronto Stock Exchange, today announces that the six nominees listed in its management proxy circular dated March 29, 2017 were re-elected as directors of the Company. The detailed results of the vote held at the Company's Annual General Meeting of Shareholders (the "Meeting") on May 4, 2017 in Vancouver, British Columbia, are set out below.

A total of 26,647,707 common shares were voted in connection with the Meeting, representing approximately 22.44% of the issued and outstanding common shares of the Company. On a vote by ballot, each of the following nominees proposed by management was re-elected as a director of UrtheCast to hold office until the next annual general meeting of shareholders or until their successors are elected or appointed:

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 operates Earth Observation (EO) sensors in space, including two satellites, Deimos-1 and Deimos-2, to produce imagery data that is displayed on UrtheCast's cloud-based web platform and sold to partners and customers. Through its subsidiary Deimos Imaging, UrtheCast processes and distributes imagery data and value-added products on behalf of the PanGeo Alliance, a network of eight satellite operators with a combined 15 medium- and high-resolution EO sensors. UrtheCast is also developing and expects to launch two EO satellite constellations: the world's first fully-integrated constellation of sixteen multispectral optical and SAR satellites, called OptiSAR™, and an eight-satellite constellation designed to capture high-quality, medium- resolution optical imagery of the Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily™. Together, the Company believes these constellations will revolutionize monitoring of our planet with medium- and high-resolution, high-coverage and high-revisit imagery in all weather conditions. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker "UR". 

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: UrtheCast's expectations with respect its current sensors and proposed OptiSAR™ and UrtheDaily^TM  constellations;  its plans for and timing of expansion of its product offering and value-added services; and its future growth and operations plans. 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™ or UrtheDaily^TM constellations; the Company being unable to adequately finance the development, building, launch and commissioning of the UrtheDaily Constellation or to convert the remaining MOUs and other customer discussions in respect of the OptiSAR™ constellation into binding, definitive agreements; the inability of the confidential OptiSAR customer described in this press release to obtain budgetary approval from government or to otherwise comply with its obligations under the binding agreement for the purchase and operation of two satellites; any failure by Geosys, the Government of Canada or one of UrtheCast's third-party lenders to comply with the terms of their respective contracts with UrtheCast, and UrtheCast's ability to comply with any of its covenants thereunder; the decline of key relationships in, or termination of, the PanGeo Alliance of EO satellite operators; loss of key EO imagery sales contracts or customers; failures aboard the ISS or the Deimos-1 or Deimos-2 satellites; failure to obtain, or loss of, regulatory approvals, as well as those factors and assumptions discussed in UrtheCast's annual information form dated March 28, 2017, (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.

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www.urthecast.com