OTTAWA, CANADA, February 28, 2018 – Telesat Canada (Telesat) welcomes the Government of Canada’s commitment in Budget 2018 to support investment in new Low Earth Orbit (LEO) satellite constellations for rural broadband communications. Budget 2018 proposes funding of $100 million over five years for the Strategic Innovation Fund, with a particular focus on supporting projects that relate to LEO satellites and next generation rural broadband.
Telesat is presently developing a global LEO constellation that will revolutionize broadband communications services. Telesat’s LEO constellation will deliver high-performing, cost-effective, fiber-like broadband connectivity anywhere in the world – including throughout all of Canada – for business, government and individual users. The initial constellation will consist of approximately 120 satellites by 2021 and Telesat is evaluating options to expand its system beyond this initial configuration. Telesat successfully launched its first LEO satellite earlier this year and will soon be conducting trials with a number of its customers around the world to validate certain key features of its advanced constellation. (For more on Telesat’s LEO satellite system, visit www.telesat.com/services/leo)
“Telesat’s planned LEO satellite constellation can deliver the high-speed Internet access that is essential for Canadian citizens and businesses – no matter where they’re located – to fully participate in the 21st century global community and economy,” commented Dan Goldberg, Telesat’s President and CEO. “The Government’s support of LEO satellite technology in Budget 2018 is an important step to help solve the rural broadband challenge in Canada. In addition, we strongly concur with the Government’s recognition that Canada’s world-class space industry is uniquely situated to build and operate these game changing communications networks, which would create a significant number of high tech jobs and foster meaningful innovation and economic growth here in Canada. We look forward to working with the Government of Canada and Canadian industry to capture the full promise of Telesat’s LEO constellation for Canada.”
Telesat is a leading global satellite operator, providing reliable and secure satellite-delivered communications solutions worldwide to broadcast, telecom, corporate and government customers. Headquartered in Ottawa, Canada, the company’s state-of-the-art fleet consists of 15 GEO satellites, the Canadian payload on ViaSat-1 and one Phase 1 LEO satellite which is the start of Telesat’s planned global LEO satellite constellation that will offer low latency, high throughput broadband services. An additional two GEO satellites are under construction with launches planned for mid-2018. Telesat is also a leading technical consultant providing high value expertise and support to satellite operators, insurers and other industry participants on a global basis. Privately held, Telesat’s principal shareholders are Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL).
This news release contains statements that are not based on historical fact and are ‘‘forward-looking statements’’ within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “will”, “expand”, “soon”, “planned”, “would” and “look forward to”, or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Detailed information about some of the known risks and uncertainties is included in the “Risk Factors” section of Telesat Canada’s Annual Report on Form 20-F for the fiscal year ended December 31, 2016 which can be obtained on the SEC website at http://www.sec.gov. Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance, volatility in exchange rates and risks associated with domestic and foreign government regulation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects Telesat’s beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, Telesat disclaims any obligation or undertaking to update or revise the information herein.
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