OTTAWA, CANADA, September 18, 2017 – Telesat fully supports last week’s announcement by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, of $50 million in funding from Canada’s Connect to Innovate program to improve high-speed broadband coverage for the communities of Nunavut.
“Telesat applauds the determined steps the Government of Canada is taking to bring high-speed broadband connectivity to rural and remote communities across Canada,” said Dan Goldberg, President and CEO of Telesat. “Minister Bains’ important announcement will transform the way people in the Far North participate in the digital economy and Telesat is pleased that the substantial investment we have made in the state-of-the-art Telstar 19 VANTAGE satellite will be a core component in the delivery of advanced Internet services to these communities. Telstar 19 VANTAGE is optimized to efficiently support a range of broadband applications that will substantially improve the lives of Canadians, including e-commerce, distance education and connecting with family and friends.”
Since Telesat’s founding nearly 50 years ago, Telesat employees across Canada have focused on providing reliable and secure satellite communications to benefit all Canadians. Telstar 19 VANTAGE is the company’s latest innovation. Following its scheduled launch in the second quarter of 2018 and successful deployment, this new, high throughput satellite (HTS) will bring twenty times more capacity to the Nunavut region, one of the most difficult to serve in the world.
With the announcement by Minister Bains, Canada is making important investments to ensure all Canadians have access to high-speed internet that will spur innovation, create jobs and improve lives. Telesat is committed more than ever to invest in and deploy the most advanced, next generation satellite services to serve the communications needs of all Canadians.
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, with offices and facilities around the world, the company’s state-of-the-art fleet consists of 15 satellites, the Canadian payload on ViaSat-1, and two new satellites under construction. An additional two prototype satellites are under construction for launch into low earth orbit (LEO) as part of Telesat’s plans to deploy an advanced, global LEO satellite constellation offering low latency, high throughput broadband services. Telesat also manages the operations of additional satellites for third parties. 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”, “scheduled”, and “committed”, 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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