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BRIEF-Exactearth Announces Strategic Divestiture Of Select Satellites To Myriota

Published 2020-03-31, 09:04 a/m
XCT
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March 31 (Reuters) - exactEarth Ltd XCT.TO :

* EXACTEARTH ANNOUNCES STRATEGIC DIVESTITURE OF SELECT SATELLITES TO MYRIOTA

* EXACTEARTH LTD - DIVESTITURE WILL RESULT IN NET CASH SAVINGS OF APPROXIMATELY $1.0 MILLION PER YEAR

* EXACTEARTH LTD - TRANSACTION HAS NO IMPACT ON COMPANY'S SATELLITE-AIS DATA SERVICE PERFORMANCE

* EXACTEARTH - ENTERED INTO AGREEMENT TO DIVEST 4 SATELLITES FROM ITS FIRST-GENERATION CONSTELLATION AND ITS GROUND STATION ASSETS TO MYRIOTA CANADA INC

* EXACTEARTH LTD - FOUR OF EXACTEARTH'S FULL-TIME PERSONNEL WILL CEASE EMPLOYMENT WITH EXACTEARTH AND WILL BECOME EMPLOYEES OF MYRIOTA CANADA

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