VANCOUVER, British Columbia, June 25, 2026 (GLOBE NEWSWIRE) -- Encore Technologies Corp. ("Encore" or the "Company") (CSE:ENCR) is pleased to announce that it has entered into a binding term sheet with Solstar Space Company ("Solstar") pursuant to which Encore intends to make a strategic investment of US$1.0 million in Solstar (the "Investment"), subject to the completion of a financing by Encore and the execution of definitive documentation.
The Investment is intended to provide Encore with meaningful exposure to a high-growth industry through an investment in Solstar, which develops communications infrastructure and connectivity solutions for the emerging space economy. Solstar's Deke Space Communicator is currently operating successfully on-orbit on the Momentus Vigoride 7 mission launched by SpaceX Falcon 9 in March 2026. Co-passengers on the mission include NASA, DARPA, and a commercial space data center operator, all of which are using the Deke service. This mission represents a significant technical and commercial milestone for the company and an important step toward commercial deployment.
Concurrently, Encore intends to complete a non-brokered private placement of common shares for gross proceeds of up to C$1.4 million (the "Financing"). The Financing is a condition to completion of the Investment and is expected to be used primarily to fund the Investment.
Transaction Highlights
Binding term sheet executed for a proposed US$1.0 million strategic investment in Solstar through a convertible loan.
Solstar develops communications infrastructure designed to enable persistent connectivity between spacecraft, operators and future space-based infrastructure.
Solstar's Deke Space Communicator successfully operating on-orbit aboard a Momentus Vigoride 7 mission launched by SpaceX Falcon 9 in March 2026.
Encore believes the next 24 months will be a critical period in Solstar's evolution into a foundational communications platform for the emerging space economy.
Encore and Solstar intend to explore future opportunities to integrate Solstar's communications capabilities with Encore's broader intelligent infrastructure initiatives.
Encore plans a concurrent non-brokered private placement of up to C$1.4 million at a price of C$0.26 per common share.
Strategic Rationale
Encore believes communications infrastructure will remain a foundational component of next-generation technology systems, both on Earth and beyond. As activity in space continues to expand, demand for reliable connectivity, data transmission and communications services is expected to increase across a broad range of civil, commercial, and government applications. The space economy is among the world's fastest growing economy according to industry research at McKinsey & Co and the World Economic Forum.