VANCOUVER, BC, May 2, 2022
/CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company")
(TSXV: LTE) (OTC: LTCCF), a world leader in the fibre optic
products and advanced installation methodologies, is pleased to
provide an update on its Canadian operations and business
activity.
Brooks,
Alberta
The Company is pleased to report that Phase 1 construction has
started for Brooks' Next
Generation Broadband Network. Phase 1 of the project, valued
at approximately $13.6 million, is
focused on the installation of the backbone network and once
completed, Phase 2 will immediately follow which will provide
individual connections to residents as well as businesses with
construction expected to be completed by December 2023. As
construction takes place, additional opportunities will arise
whereby individual connections will become part of the overall
construction.
Kootenay Region, British Columbia
The Company has been involved in numerous network upgrades for
major service providers within the Kootenays. Spanning from
Grand Forks BC to the BC /
Alberta border, Lite Access'
aerial crews have been working diligently to perform network
upgrades of existing communications facilities as well as
completing new installations throughout the region.
In addition, Lite Access will be installing aerial fibre cables
for a major ski hill located in the East Kootenays. The
project involves the installation of a fibre cable along the
chairlift and will commence within the next few weeks. Total
approximate value to date $150,000
with additional work to follow.
Lower Mainland, British Columbia
Lite Access is currently engaged in works at various
municipalities throughout the Lower Mainland. Working
directly with cities that have approved and have requested narrow
trenching as the preferred installation method, Lite Access is
perfectly positioned to offer its proven installation methodology
for fibre optic installations and expects similar and additional
projects in the near future.
Additionally, Lite Access was awarded a fibre build contract
valued at over $150,000 from a major
Canadian carrier. Lite Access will be providing civils
and construction services to install fibre in downtown
Vancouver, BC using its advanced
deployment and excavation methods. The project commences in
May 2022.
Comox, Vancouver Island, British Columbia
The Company reports that it has completed the first phase of a
fibre project in Comox. The Company is pleased to announce
that it has been awarded the second phase of the project, valued at
approximately $237,000. Work is
currently underway with completion expected by end of May
2022.
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.
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, 2021 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.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Lite Access Technologies Inc