LITE ACCESS RECEIVES $4,682,340 THROUGH WARRANT EXERCISE
September 14, 2020 – Vancouver, British Columbia. LITE ACCESS TECHNOLOGIES INC. (the “Company“) (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce that its shareholders have exercised 7,203,600 warrants for total proceeds of $4,682,340. The Company previously announced the acceleration of the expiry date of 7,385,700 share purchase warrants to September 11, 2020. The unexercised 182,100 share purchase warrants expired on September 11, 2020. This represents a 98% take up of the outstanding warrants.
“We are very pleased to have the ongoing support from our shareholders with these warrant exercises and recognizing the value that we are building in the Company,” said Carlo Shimoon, President & CEO of Lite Access. “Our fourth quarter will deliver another quarter of growth with FY 2020 expected to be another significant growth year over FY 2019.”
The proceeds from the warrant exercise strengthens the Company’s financial position and the additional capital will be used to further the Company’s efforts in the United Kingdom.
About Lite Access
Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators.
As part of its suite of services Lite Access provides clients with integrated solutions or select components for the design and implementation of fibre optic networks. Lite Access’ products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout the United Kingdom, the USA and Canada as well as global telecommunications companies that have adopted Lite Access as the “solution of choice” for the least invasive, most cost effective and future-proof fibre optic connectivity available.
Lite Access’ installation technology and proprietary products extend a network provider’s ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.
For further information please contact:
Lite Access Technologies Inc.
Carlo Shimoon, CEO
Unit 5 – 20678 Duncan Way
Langley, BC V3A 7A3
For investor relations please contact:
Contact Financial Corp.
810 – 609 Granville St.
Vancouver, BC V7Y 1G5
Forward Looking Information
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. Lite Access uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Lite Access in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to Lite Access’ expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause Lite Access’ actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: and risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the period ended September 30, 2019 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, Lite Access undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Next >>