Telesat Corporation (TSE:TSAT) has released an update.
Telesat Corporation announced that the Canadian government is set to invest CAD$2.14 billion in its Lightspeed LEO satellite project through a loan with a 15-year maturity. The deal, which also includes the government receiving warrants for a 10% stake in Telesat’s subsidiary, is subject to the negotiation of definitive agreements and satisfaction of certain conditions. While signaling a boost for Canada’s high-tech job market and capital expenditure, there is no certainty that the terms will be finalized as described or that the investment will proceed as anticipated.
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