UrtheCast Corp. Update on US$142 Million Credit Facility

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VANCOUVER, May 14, 2018 /CNW/ - UrtheCast Corp. (TSX: UR) ("UrtheCast" or the "Company") is pleased to announce that it has substantially finalized the definitive documentation for the credit agreement and related documentation for the previously announced US$142 million senior secured credit facility (the "UrtheDaily Facility") with the senior lenders. UrtheCast has also received confirmation that all funds currently held in escrow pursuant to the previously announced $34 million private placement of subscription receipts, which closed on May 3, 2018, will remain in escrow until applicable release conditions have been satisfied or waived and, in any event, at least until May 15, 2018.  Further details on the $34 million private placement were disclosed in UrtheCast's press release of May 3, 2018.

UrtheCast will provide a further update as part of its quarterly earnings release after markets close on May 15, 2018 and live conference call at 4:30 p.m. ET (1:30 p.m. PT). 

The live conference call on May 15, 2018 will be available by calling toll-free at 1-800-952-5114, or by toll call at 1-416-641-6104. The participant pass code is 7107762#. An archived version of the conference call will be made available on the Company's investor website (investors.urthecast.com) following the live conference call.

About UrtheCast

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.

For more information, visit UrtheCast's website at www.urthecast.com.

Forward Looking Information

This release contains certain information which, as presented, constitutes "forward-looking information" or "forward-oriented financial 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", "plan", "explore" and "expect", statements that an action or event "may", "should" or "will" be taken or occur, or other similar expressions and includes, but is not limited to, statements relating to: UrtheCast's expected completion of the UrtheDaily Facility on the terms set out in this press release, the definitive documentation related thereto, or at all. 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 as at the date of this press release, 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: UrtheCast's inability to close the UrtheDaily Facility on the terms set out in this press release, the definitive documentation related thereto, or at all; as well as those factors and assumptions discussed in UrtheCast's annual information form dated April 2, 2018, which is available under UrtheCast's SEDAR profile at www.sedar.com. UrtheCast cautions readers that such factors and uncertainties are not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual results, performance or achievements may vary significantly from those expected. There can be no assurance that the actual strategies, results, performance, events or activities anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company.

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.