Lite Access Technologies Provides Corporate Update on Current Activities and Ongoing Operations
View the press release below:
LTE NR – Corporate Update – Feb 1, 2016
LITE ACCESS TECHNOLOGIES PROVIDES CORPORATE UPDATE ON CURRENT ACTIVITES AND ONGOING OPERATIONS
February 1, 2016 – Vancouver, British Columbia, LITE ACCESS TECHNOLOGIES INC. (the “Company”) (CSE: LTE, Pink Sheets: LTCCF) is pleased to provide an update on current activities and summary of extensive new developments that have occurred in recent weeks.
Haida Gwaii Milestones Achieved
Further to the news release dated January 14, 2016, the Company is very pleased to advise that progress on the project has been both rapid and significant, resulting in the first two distance milestones already being achieved, triggering commensurate milestone payments to the Company.
Rossland, BC Expansion
Further to the news release dated October 2, 2015, the Company is pleased to advise that it has just signed a new agreement to perform an additional extension beyond the original network deployment for the downtown Rossland Network, part of the Columbia Basin Broadband Corporation (CBBC), a subsidiary of the Columbia Basin Trust.
Shaw Cable Systems
Work continues within the Kootenay region of South Eastern British Columbia for Shaw Cable Systems network builds. Continued network expansion efforts are ongoing and include backbone and lateral connections throughout the Kootenay region.
The Company is pleased to report that, further to its press release dated July 15, 2015, approximately 50% of the network build has been completed and remaining connections ongoing.
Local Network Expansion Projects
Lite Access continues to support local clients in Vancouver’s Downtown core by helping to extend existing networks that are required to better service a growing customer base. These ongoing contracts are the latest in a number of similar contracts that have been awarded to Lite Access over the past several years. Past projects have been completed with minimal disruption to the surrounding area and in far less time and at significantly lower costs compared to traditional methods of deployment. These ongoing contracts are a testament to the strong and ever growing relationship Lite Access has established over the past many years, and proof of the quality and integrity of the Company’s products, services, technology, and method of deployment as the leading fibre connectivity solutions of choice around the globe.
Continued Network Builds in the USA
Lite Access continues to support and assist with ongoing builds in New York State as well as Virginia and areas within Massachusetts. Ongoing relationships with current construction partners as well as service providers enables clients including Verizon, Crown Castle and others with the most cost effective and timely means of network connectivity available today. Working alongside valued partners has been ongoing for the past 10 years with proven installation methodology gaining significant acceptance in new territories.
The Company has recently submitted several new bids on significant projects both in Canada and abroad, with the results of these tenders expected in the next 30-60 days.
Further to news release dated Jan 18, 2016, the Company is pleased to announce that the referenced trial is now expected to commence within 60 days.
Mike Plotnikoff, CTO of Lite Access, states, “The team at Lite Access is very proud of our achievements in recent weeks, from the fantastic progress made at Haida Gwaii to the solidifying of our existing client base with multiple expansions to current networks, to the significant projects that the Company is being invited to bid on for major telecoms and organizations worldwide. We know however, that our greatest achievements lie ahead of us, and we look forward to all that 2016 will bring.”
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 Las Vegas strip and surrounding areas of Nevada, 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 – 1125 6900 Graybar Rd.
Richmond, BC V6W 0A5
For investor relations please contact:
Contact Financial Corp.
1450 – 701 West Georgia St.
Vancouver, BC V7Y 1G5
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties described in the Company’s Listing Statement dated May 26, 2015 available on www.cnsx.ca. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.