CDEV and the Government of Canada to invest $1.15bn in Telesat.

Centennial Resource Development, an independent oil produce, and the Government of Canada agreed to invest $1.15bn in Telesat, a Canadian satellite communications company. "The Government of Canada’s investment in Telesat Lightspeed underscores the project’s transformational ability to bridge the digital divide, position Canada at the forefront of the burgeoning New Space Economy, and deliver sustained and high quality job creation and economic growth in Canada. We applaud the Government’s recognition of the importance and promise of Telesat Lightspeed. With the funding announced today and other financing sources already in place, including the previously announced investment by the Government of Quebec, Telesat now has arrangements for approximately $3.2bn in funding for the program. We expect to secure in the near term the remaining financial commitments required to fully finance Telesat Lightspeed," Daniel S. Goldberg, Telesat President and CEO.