LITE ACCESS AWARDED ADDITIONAL CONTRACT WITH CITYFIBRE VALUED AT APPROXIMATELY CAD$13 MILLION FOR FTTP INSTALLATION IN THE UK
January 22, 2020 – Vancouver, British Columbia. LITE ACCESS TECHNOLOGIES INC. (the “Company“) (TSX VENTURE: LTE) (OTC PINK: LTCCF), 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 of fibre optic network deployment for telecommunications operators, is pleased to announce that it has been awarded an additional contract with CityFibre, the UK’s leading alternative provider of wholesale full fibre infrastructure, for fibre-to-the premises (FTTP) installation as part of CityFibre’s £2.5 billion Gigabit City investment programme. The contract is valued at approximately CAD$13 million over 2 years.
The contract reflects the increasing strength of Lite Access’ business and the Company’s commitment to targeting full fibre infrastructure builds in this sector. Lite Access continues to expand it construction service capabilities and innovative technologies to its clients, specifically with respect to quality and efficiency while maintaining its commitment to safety and compliance.
Richard Thorpe, Chief Delivery Officer at CityFibre, said, “Lite Access represents a refreshing addition to our supply chain. With vision, continuous development and innovative technology and new equipment, Lite Access’ primary and sole focus is the deployment of fibre. Their leadership and office staff are totally committed to 100% fibre delivery and are not burdened with the distractions that come with dealing with multiple utilities. Lite Access’ engaging approach in managing the interests of CityFibre, the local community and the representing authorities mitigates the impact on residents.”
James Thomas, Director of Supply Chain at CityFibre, commented, “Lite Access has proven to have the right blend of experience and expertise to support our Gigabit City Investment Programme. We are delighted to be awarding them this additional contract as we accelerate and expand the build of our full fibre networks.”
Carlo Shimoon, President & CEO of Lite Access, stated, “This award marks another important achievement for our Company in the UK and specifically with CityFibre. As full fibre is rolled out to more towns and cities across the UK, it will be beneficial to be able to put our sizeable investment in specialized equipment and training to use on a larger scale.”
CityFibre is the UK’s third national digital infrastructure platform and already has existing networks in more than 60 towns and cities. CityFibre is investing £2.5 billion in its Gigabit City Investment Programme which aims to reach more than five million homes, over 20% of the UK market, by the end of 2025.
CityFibre is the UK’s leading alternative provider of wholesale full fibre infrastructure. With existing networks in more than 60 towns and cities, CityFibre provides wholesale connectivity to business and consumer service providers, local authorities and mobile operators.
Underpinned by a £2.5bn investment programme, CityFibre has network rollouts underway targeting at least 20% of the UK market by 2025. This will deliver a new generation of Gigabit-capable full fibre infrastructure to five million homes and businesses. A growing number of Gigabit City projects have been announced for full-city rollouts and CityFibre continues to prime its existing network assets for expansion.
CityFibre is based in London and is jointly controlled by Antin Infrastructure Partners and West Street Infrastructure Partners.
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: the projected value of the contract award from CityFibre, and risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the period ended June 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.
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