Canadian government throws cash lifeline to satellite maritime tracking company exactEarth

by Peter B. de Selding

PARIS — The Canadian government has thrown a lifeline to satellite maritime traffic tracking service provider exactEarth in the form of a long-term loan whose repayment terms will depend on exactEarth’s business performance.

The loan, for 7.2 million Canadian dollars ($5.74 million), comes as exactEarth confronts expenses that are climbing faster than the company’s revenue.

For the nine months ending July 31, revenue totaled 9.2 million Canadian dollars, down 7% from the same period a year ago. The company reported an operating loss of . . .

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