NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINTATION IN THE UNITED STATES

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LITE ACCESS CLOSES BOUGHT DEAL EQUITY FINANCING OF $20.45 MILLION

March 28, 2017 – Vancouver, British Columbia. LITE ACCESS TECHNOLOGIES INC. (“Lite Access”) (TSX VENTURE: LTE)(OTC PINK: LTCCF) announces that it has closed its previously announced “bought-deal” financing of 9,090,000 common shares (“Common Shares”) of Lite Access, which includes 2,223,000 Common Shares issued pursuant to the exercise of the underwriters’ option in full and an oversubscription of 200,000 Common Shares, at $2.25 per share (the “Issue Price”) for gross proceeds of $20,452,500 (the “Offering”).

 

The Offering was underwritten by a syndicate of underwriters led by Cormark Securities Inc. and including Beacon Securities Limited, Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the “Underwriters”).  In consideration of their services, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the Offering, and such number of broker warrants (“Broker Warrants”) equal to 6.0% of the aggregate number of Common Shares issued pursuant to the Offering.  Each Broker Warrant is exercisable for one Common Share at the Issue Price for a period of 24 months from closing of the Offering.

The securities issued under the Offering will be subject to resale restrictions expiring on July 29, 2017.

The net proceeds of the Offering will be used to fund growth initiatives and for general corporate purposes. 

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for account or benefit of, U.S. persons, absent registration or applicable exemption from the registration requirements. Any public offering of securities in the United States must be by means of a prospectus containing detailed information about the Company and management as well as financial statements.

About Lite Access

Lite Access is a world leader in Microduct and fibre optic technologies. Using its specially designed and innovative micro-trench and alternate methods of deployment, Lite Access’ proprietary Microduct technology extends a network provider’s ability to deliver true broadband connectivity directly to end-users, such as homes, government and educational institutions, and emergency response facilities. Providing a full portfolio of fibre connectivity solutions for many types of Telecom infrastructure, Lite Access has successfully deployed or enabled deployment of thousands of kilometres of Microduct networks throughout North and South America, the United Kingdom, the Caribbean, Australia and Asia.

Lite Access’ products have been deployed in many high-profile communication networks including the Whistler 2010 Winter Olympic facilities, communities throughout British Columbia, the USA and Alberta as well as numerous Global telecoms that have adopted Lite Access as the “solution of choice” for future proof fibre optic connectivity solutions.  Providing total Integrated Solutions including proven and approved alternate deployment methodologies, Lite Access remains flexible and innovative in its commitment to enable global clients and  partners with the most cost effective and proven fibre connectivity available.

For further information please contact:

Lite Access Technologies Inc.
Phone: 1-604-247-4704

Unit 5 – 20678 Duncan Way

Langley, BC V3A 7A3

www.liteaccess.com
For investor relations please contact:

Rob Gamley

Phone: 1-604-689-7422

Email: rob@contactfinancial.com

Contact Financial Corp.

1450 – 701 West Georgia St.

Vancouver, BC V7Y 1G5

View the full release here: LTE NR Closes $20M Financing Mar 28, 2017 (final)