Lite Access Closes Private Placement Financing of $3,532,110

October 3, 2016 – Vancouver, British Columbia, LITE ACCESS TECHNOLOGIES INC. (the “Company”) (CSE: LTE, Pink Sheets: LTCCF), a total integrated fibre optic solutions provider, is pleased to announce that it has closed its private placement financing by issuing a total of 3,071,400 common shares at a price of $1.15 per share for gross proceeds of $3,532,110 (the “Financing”).  The proceeds from the Financing will be used to fund the expansion of the Company’s newly launched UK operations office, working capital and to accelerate near and longer term growth initiatives.

“We are pleased with the overwhelming support for this financing and welcome new Lite Access shareholders,” stated Michael Plotnikoff, CEO of Lite Access.  “We are proud of our accomplishments thus far and are even more enthusiastic about the significant growth opportunities that lie ahead.”

In accordance with applicable securities laws, the shares issued under the Financing will be subject to a four month hold period expiring on January 31, 2017.

 Under the Financing, the Company paid and issued the following finders fees: $150,172 and 51,600 common shares of the Company.

 

About Lite Access

 

Lite Access is a world leader in microduct and fibre optic technologies. Using its specially designed and innovative micro-trench and micro-drill 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 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, builds within the State of New York including Central Park, the Bering Sea for the TV show “the Deadliest catch”, fibre to the home at Stanford University and numerous other locations around the globe that have adopted Lite Access as the “solution of choice” for future proof fibre optic connectivity.

For further information please contact:

 

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

1115 – 1215, 6900 Graybar Rd.

Richmond, BC V6W 0A5
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 PDF here – lte-nr-closes-financing-oct-3-2016

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