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Lite Access Technologies Signs Early Start Agreement with City of Brooks for Fibre Backbone Build

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  • LTCCF

VANCOUVER, BC, Oct. 27, 2021 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSXV: 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, has signed an Early Start Agreement (the "Agreement") with the City of Brooks in support of advancing its city-wide FTTH broadband network project with the fibre backbone build in partnership with Community Network Partners Ltd. (see press releases dated January 20, June 22 and August 30, 2021).

This Agreement provides services and deliverables to construct the feeder network (backbone) for Brooks with a Master Services Agreement ("MSA") to follow for the entire project. The scope of work for the early start order encompasses the installation and supply of fibre duct and hand holes, fibre cable, fibre distribution hubs and splitters according to project design. The contract also provides for splicing of the feeder and the distribution of fibre to splitters, termination of fibre in the Point of Presence location and end to end testing.

Greg Smith, Chairman and Interim CEO of Lite Access, commented, "Signing this early start order with Brooks is a significant step forward and in strong support of advancing installation of its next generation broadband fibre optic network. We are proud to be supporting Community Network and the City of Brooks' planned initiatives and look forward to executing the MSA imminently for the initial $14.4 million proposal that was accepted earlier this year."

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, 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

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View original content: http://www.newswire.ca/en/releases/archive/October2021/27/c6438.html

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