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Encore Technologies to Invest US$1 Million in Solstar Space, Announces C$1.4 Million Private Placement

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Encore Technologies (ENCR.CN) on Thursday said it will invest US$1 million in Solstar Space to increase its exposure to a high-growth industry.

Encore, who has entered into a binding term sheet with Solstar, will complete a private placement of shares to raise up to C$1.4 million. The investment is conditional on the financing being completed.

Solstar's Deke Space Communicator is operating on the Momentus Vigoride 7 mission that was launched by SpaceX Falcon 9 last March. Co-passengers on the mission include NASA, DARPA, and a commercial space data center operator, all using the Deke service, a statement said.

The company's shares were last seen unchanged at C$0.30 on the Canadian Securities Exchange.

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