VANCOUVER, BC, Jan. 20, 2021 /CNW/ - LITE ACCESS
TECHNOLOGIES INC. (the "Company") (TSXV: LTE) (OTC 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 on its Canadian operations.
Brooks, Alberta
The Company reports that Brooks
Alberta City council unanimously agreed to accept a proposal
from Lite Access to construct a city-wide broadband network valued
at approximately $14.4 million,
pending a successful negotiation of a contract. In August 2020, the City
of Brooks issued an RFP and accepted proposals to provide
broadband to the city.1
The purpose of the RFP was to solicit proposals from qualified
construction contractors, for the design, build, operation and
maintenance (DBOM) of a citywide open access network using fixed
wireless or fibre-to-the-home (FTTH) Next Generation Broadband
Network (NGBN) capable of Gigabit + speed service to the end user
within the City of
Brooks.2
West Vancouver, British
Columbia
Lite Access was awarded a fibre build contract valued at over
$400,000 from a major Canadian
carrier. Lite Access provided civils and construction
services to install fibre through West
Vancouver, British Columbia using its advanced deployment
and excavation methods. The project commenced in December 2020 and is substantially completed.
Southeastern British
Columbia
In the Fall of 2020, a region in southeastern British Columbia issued an RFP for the
provision of project management and construction services,
utilizing both aerial and underground fibre construction
methodologies, to deploy fibre optic cable. Lite Access was
successful in the RFP process with its proposal of approximately
$1 million for the services, the
terms of which are being negotiated towards a mutually acceptable
agreement. Construction for the project is planned to start
in the June timeframe.
Prince George, British
Columbia
Further to the Company's press release dated September 17, 2020, Lite Access recently
completed Phase 1 of the fibre project for the City of Prince George valued at approximately
$1.1 million. Phases 2 and 3 of
the project, valued at approximately $400,000, is currently scheduled to be completed
by the end of June.
Clearwater County, Alberta
Further to the Company's press release dated May 28, 2020, Lite Access has completed the
majority of the design/build fibre project for Clearwater County,
Alberta with the remainder to be
completed in April. The project has a total contract value
worth approximately $1.2
million.
Carlo Shimoon, President &
CEO of Lite Access, stated, "The Canadian market and business
conditions continue to improve and provide a real, sustainable
opportunity for our Company's growth. Even before the
Canadian Government's announcement last October to spend
$10 billion on infrastructure
initiatives such as broadband, we have definitely witnessed
business activity picking up following some process delays due to
Coronavirus.3 Our proposal activity in
Canada has been and continues to
be much busier than normal. Lite Access is
well-positioned to engage in infrastructure projects, diversify our
client base and expand our presence in Western Canada and other regions."
1Source: Online,
https://brooksbulletin.com/wp-content/uploads/2020/12/50-BBulletinDec9-2020.pdf
2Source: Online,
https://brooks.ca/bids.aspx?bidID=51
3Source: Online,
https://www.reuters.com/article/us-canada-politics-infrastructure/canada-launches-c10-billion-infrastructure-plan-to-aid-economic-recovery-idUSKBN26M6NW
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: and risks and uncertainties
described in Lite Access's most recent Management Discussion &
Analysis (MD&A) for the interim period ended June 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.
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