LITE ACCESS TECHNOLOGIES PROVIDES UPDATE ON THE CITY OF BROOKS’ NEXT GENERATION BROADBAND NETWORK
June 22, 2021 – Vancouver, British Columbia. LITE ACCESS TECHNOLOGIES INC. (the “Company”) (TSX VENTURE: LTE)(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 provide an update for the construction of a city-wide FTTH broadband network in the City of Brooks, Alberta (see press release dated January 20, 2021).
Lite Access refers to the City of Brooks’ media release on June 21, 2021 (link: https://www.brooks.ca/CivicAlerts.aspx?AID=221): “The City of Brooks has reached an agreement in principle with a consortium led by Community Network Partners, a subsidiary of Crown Capital Partners Inc., for the construction and operation of a next generation broadband fibre optic network, capable of 10 Gigabytes per second (Gbps) to every household and business.
The construction will take place over the next three years, and as neighborhoods are constructed, they will be able to sign up for internet, television and telephone service with the new community-based internet service provider.
The City will invest $5.3 million and will own the backbone network. Community Network Partners will invest $15.7 million to connect residents and business locations to the backbone, with the network being operated as one seamless network. Lite Access Technologies will be responsible for the construction of the entire network with IBI Group providing planning, design, and project management services to the partners.
The City and Community Network Partners will contract with O-NET, a trusted and respected community network operator in Olds, Alberta as an initial provider of retail services. The network will be operated on an open-access basis, allowing for competitive retail service providers to offer services on the network and allow residents and businesses within the City a choice of retail service providers.
“’Access to affordable, high-speed internet and services is critical to the continued vibrancy and success of the City of Brooks,” says Mayor Barry Morishita. “Connectivity creates new possibilities and enables economic development opportunities.’”
With this investment the City of Brooks will become one of the first 10 Gbps communities in North America, positioning it as an attractive location for knowledge-based industries and residents who value affordable high-speed connectivity along with a well-balanced life rooted in community.”
Greg Smith, Chairman and Interim CEO of Lite Access, said, “We are extremely pleased to see the City of Brooks advancing with a state-of-the-art fibre optic network for its community as anticipated. We look forward to working with the City and being an integral part of the consortium by constructing the entire network capable of bringing world-class fibre connectivity to the residents and businesses of Brooks. We will be ready to hit the ground running and begin mobilizing equipment once all approvals have been received.” Mr. Smith added, “This is a positive sign illustrating the size and scope of Canadian-based infrastructure projects. The Canadian bid pipeline remains strong and is expected to grow as we enter the back half of 2021.”
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.
Greg Smith, Chairman & Interim CEO
20108 Logan Avenue
Langley, BC V3A 4L6
For investor relations please contact:
Contact Financial Corp.
204 – 998 Harbourside Dr.
North Vancouver, BC V7P 3T2
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: risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the financial year ended September 30, 2020 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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