CERAF - SPAC Ceres Acquisition enters into non-binding LOI with Maritime Launch Services

SPAC Ceres Acquisition (OTCQX:CERAF) has entered into a non-binding letter of intent with Maritime Launch Services to combine with MLS as its qualifying transaction. Maritime Launch is a commercial aerospace company based in Nova Scotia.  Under the terms, MLS’ shareholders would exchange their shares in MLS for Ceres common shares. Maritime Launch is poised to accelerate the global launch market by offering its clients the largest range of launch inclinations on the continent coupled with a technically mature and reliable launch vehicle capable of carrying 5 tons of cargo to low earth orbit. The parties are continuing to negotiate the transaction terms and there can be no assurance that binding definitive agreements will be reached. Special meeting is scheduled to be conducted on Feb.23 for stockholders to approve the deal.

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SPAC Ceres Acquisition enters into non-binding LOI with Maritime Launch Services