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Sky and Space Global's shares climb on binding off-take contract

Sky and Space’s mission is to build a constellation of 200 nano-satellites.
Sky and Space Global's shares climb on binding off-take contract
Sky and Space last traded at $0.021

Sky and Space Global Ltd (ASX:SAS) has signed its first binding commercial contract with a wholesale customer, Sat-Space Africa.

This follows the initial binding letter in 2016, with Sat-Space Africa the company’s first wholesale operator.

Sky and Space's shares are trading 7.7% higher at $0.21 in the first 40 minutes of today's session.

Details of the contract

Today's contract defines the full commercial terms for purchasing services from Sky and Space, along with Sat-Space Africa’s role with other customers.

Once the full Sky and Space Global Equatorial Constellation is deployed, potential revenues from customers via Sat- Space Africa will be between US$10 million to US$35 million annually.

This binding commercial contract provides further confidence in Sky and Space’s nano-satellite constellation and technical capability.

Plan to build 200 nano-satellites

Sky and Space’s overall mission is to build a constellation of 200 nano-satellites to cover the equatorial belt by 2020.

In doing so, the company will be completing its strategy to provide affordable communication services to Anyone, Anywhere, Anytime.

3 Diamonds will now commence the commercial operations testing phase.

View full SAS profile View Profile

Sky and Space Global Ltd Timeline

Newswire
September 05 2017

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