VANCOUVER, BC, June 22, 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, 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.
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