Lite Access Technologies Awarded Two New Fibre Projects
VANCOUVER, BC, Sept. 15, 2021 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSXV: LTE) (OTC PINK: LTCCF), a world leader in the use of innovative and proven micro trenching and 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 announce that Clearwater County and the Ktunaxa Nation Council ('KNC') have each awarded the Company fibre optic network build contracts.
Clearwater County, Alberta
Lite Access has been selected as a preferred candidate to provide construction services, as part of Clearwater County's Backbone Broadband Internet Plan, for Phase 2 Rocky Mountain House to Olds. The contract is valued at approximately $750,000. Lite Access completed Phase 1 (see press releases dated May 28, 2020, January 20, 2021 and February 11, 2021) and has been invited to bid on additional phases of the project that are to be awarded over the next few years.
Greg Smith, Chairman and interim CEO of Lite Access, stated, "We are immensely proud of the relationship to help and support Clearwater County to forge ahead with their plan to deliver high speed, internet access to its community, households and businesses over the coming years. Clearwater County continues to be a model municipality for making access to broadband connectivity a key priority."
The Ktunaxa Nation Council
The Company has been awarded the first phase of a Fibre-to-the-Home (FTTH) construction project by the Ktunaxa Nation Council in Cranbrook, British Columba worth approximately $135,000. The design assist, supply and installation of the fibre build will connect all ʔakisq̓nuk community band offices, health centre, recreation centre and service drops for all the homes and lots on subdivision road. This award is Phase 1 of a much larger project is expected to begin this month. Over the next year, additional phases of the project are expected to be awarded to contractors.
"I would like to thank the Ktunaxa Nation Council and ʔakisq̓nuk for trusting us to deliver the first phase of this important fibre build to ensure the community is being connected to high-speed internet," said Mr. Smith. "We are enthusiastic about the opportunity to work closely with the KNC and as the community proceeds with the next phases of the network build, we look forward to bidding on future work."
The Company is also pleased to report that it is closing towards signing a Master Agreement for the construction of a citywide FTTH broadband network with the City of Brooks, Alberta (see press releases January 20, 2021 and June 22, 2021) and will provide an update when available.
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 interim period ended March 31, 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
Company Codes: OTC-PINK:LTCCF, TorontoVE:LTE
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