FCC Issues Telesat Phase II Certification of Accelerated Relocation Order
05 Juli 2023 - 1:00PM
Telesat (NASDAQ and TSX: TSAT), one of the world’s largest and most
innovative satellite operators, today announced that the Wireless
Telecommunications Bureau of the U.S. Federal Communications
Commission (FCC) has validated Telesat’s Phase II certification of
accelerated C-band clearing activities in the 3.7 GHz band.
With this order, the FCC confirms that Telesat
has completed all requirements for relocating customers from the
3700-3820 MHz band in the contiguous U.S. along with all required
Earth station equipment modifications. Telesat fulfilled the Phase
II relocation requirements six months in advance of the December
2023 deadline, and is now eligible to receive its second
accelerated relocation payment of nearly US$260 million, expected
by October 2023. Telesat has already received its Phase I clearing
payments totaling US$84.8 million.
“I’m incredibly proud of the dedication and
efforts of the Telesat team in flawlessly transitioning our
customers’ networks to maintain continuity of their critical
services,” stated Dan Goldberg, Telesat’s President and CEO.
“Telesat’s clearing of spectrum well in advance of the FCC’s
deadline will further enable the quick deployment of 5G services
across the United States.”
About Telesat
Backed by a legacy of engineering excellence,
reliability and industry-leading customer service, Telesat (NASDAQ
and TSX: TSAT) is one of the largest and most innovative global
satellite operators. Telesat works collaboratively with its
customers to deliver critical connectivity solutions that tackle
the world’s most complex communications challenges, providing
powerful advantages that improve their operations and drive
profitable growth.
Continuously innovating to meet the connectivity
demands of the future, Telesat Lightspeed, the company’s Low Earth
Orbit (LEO) satellite network, will be the first and only LEO
network optimized to meet the rigorous requirements of telecom,
government, maritime and aeronautical customers. Telesat Lightspeed
will redefine global satellite connectivity with ubiquitous,
affordable, high-capacity links with fibre-like speeds. For updates
on Telesat, follow us @Telesat on Twitter, LinkedIn, or visit
https://www.telesat.com/.
Media Contact:Lynette Simmons+1
613 748 8729pr@telesat.com
Forward-Looking Statements Safe
Harbor
This news release contains statements that are
not based on historical fact, including financial outlook for 2023
and the growth opportunities and expected timing around the
financing of Telesat Lightspeed, and are “forward-looking
statements’’ within the meaning of the Private Securities
Litigation Reform Act of 1995 and Canadian securities laws. When
used herein, statements which are not historical in nature, or
which contain the words “will,” “expect,” or similar expressions,
are forward-looking statements. 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. All statements made in this press release are
made only as of the date set forth at the beginning of this
release. Telesat Corporation undertakes no obligation to update the
information made in this release in the event facts or
circumstances subsequently change after the date of this press
release.
These forward-looking statements are based on
Telesat Corporation’s current expectations and are subject to a
number of risks, uncertainties and assumptions. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond Telesat
Corporation’s control, are difficult to predict, and could cause
actual results to differ materially from those expressed or
forecasted in the forward-looking statements. Known risks and
uncertainties include but are not limited to: inflation and rising
interest rates, risks associated with operating satellites and
providing satellite services, including satellite construction or
launch delays, launch failures, in-orbit failures or impaired
satellite performance; the ability to deploy successfully an
advanced global LEO satellite constellation, and the timing of any
such deployment; the availability of government and/or other
funding for the LEO satellite constellation; the receipt of
additional proceeds in relation to the re-allocation of C-band
spectrum; volatility in exchange rates; the ability to expand
Telesat Corporation’s existing satellite utilization; and risks
associated with domestic and foreign government regulation. The
foregoing list of important factors is not exhaustive. Investors
should review the other risk factors discussed in Telesat
Corporation’s annual report on Form 20-F for the year ended
December 31, 2022, that was filed on March 29, 2023, with the
United States Securities and Exchange Commission (“SEC”) and the
Canadian securities regulatory authorities at the System for
Electronic Document Analysis and Retrieval (“SEDAR”), and may be
accessed on the SEC’s website at https://www.sec.gov/ and SEDAR’s
website at https://www.sedar.com/.
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