Lite Access Increases Private Placement Financing to $3,500,000
LITE ACCESS INCREASES PRIVATE PLACEMENT FINANCING TO $3,500,000
September 16, 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 increased its previously announced private placement financing (see news releases dated September 12, 2016 and September 14, 2016) to $3.5 million (the “Offering”).
The Offering will now consists of 3,043,478 common shares at a price at a price of $1.15 per share. The proceeds of the Offering will continue to be used for working capital purposes. The Company may pay a finders’ fee equal to 6% of the gross proceeds of the Offering.
The securities offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any United States state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.
1115 – 1215, 6900 Graybar Rd.
Richmond, BC V6W 0A5
For investor relations please contact:
Contact Financial Corp.
1450 – 701 West Georgia St.
Vancouver, BC V7Y 1G5
View the full PDF here – lte-nr-financing-sept-16-2016-1Next >>