r3_revised_3_re_final

Globalstar signs LOI with SAS to operate satellite gateway

Mobile satellite voice and data services provider Globalstar has signed a letter of intent (LOI) with Shahad Al Sahra Trading Est. (SAS), for SAS’s ownership and operation of a satellite gateway ground station located in Saudi Arabia and the establishment of a Satellite Services Agreement. The gateway, which is already constructed, will provide Globalstar mobile satellite voice and data services to all of Saudi Arabia and throughout parts of the surrounding Middle East region. The transaction would also provide SAS as the independent service provider, with access to remote petrochemical exploration markets. Globalstar and SAS expect to enter into definitive agreements in the near future and request the necessary licensing approvals from the Saudi Arabian telecommunication regulatory authority.