VANCOUVER, Oct. 19, 2017 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC PINK: LTCCF), a world leader in fibre optic products and advanced installation methodologies, is pleased to announce that Actavo Group Ltd. (Actavo), an engineering solutions company with global reach, has awarded Lite Access Technologies UK Ltd. a three-phase project to install a fibre-to-the-premises (FTTP) network to approximately 29,000 homes in Wrexham, the fourth largest urban area in Wales.
Since November 2016, the Company has been engaged by Actavo to install a (FTTP) network on behalf of a major UK telecom service provider in Wrexham. Lite Access has proven its ability to meet or exceed project requirements and timelines and consequently Actavo has increased the scope of work to include an additional three phases of a fiber optic network installation. The first phase will consist of 22 nodes (each node is approximately 500 homes). Phase two will consist of approximately 10,000 homes with a further 8,000 homes in the third phase.
In addition to FTTP installation, Actavo is committed to providing open and equal access to FTTP and Trunk (backbone) network construction to Lite Access. This award includes language reflecting mutual commitments to complete Wrexham and other projects that arise. Lite Access will increase the size and number of work crews in accordance with the agreed program and work requirements.
Mike Plotnikoff, CEO of Lite Access, stated, "The UK is a critical market for Lite Access and our strategic partnership with Actavo is a transformational event for our Company." Mr. Plotnikoff added, "This collaboration positions us exceptionally well to optimize the near and long-term potential of our game-changing advances in fibre connectivity which are pivotal in the UK and globally."
About Lite Access
Lite Access is a world leader in Microduct and fibre optic technologies. Using its specially designed and innovative micro / narrow trench and alternate methods of deployment, Lite Access' proprietary Microduct technology extends a network provider's ability to deliver true broadband connectivity directly to end-users, such as homes, government and educational institutions, and emergency response facilities. Providing a full portfolio of fibre connectivity solutions for many types of Telecom infrastructure, Lite Access has successfully deployed or enabled deployment of thousands of kilometres of Microduct networks throughout North and South America, South Africa, the United Kingdom, the Caribbean, Australia and Asia.
Lite Access' products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout British Columbia, the USA and Alberta as well as Global telecoms that have adopted Lite Access as the "solution of choice" for future proof fibre optic connectivity solutions. Providing total Integrated Solutions including proven and approved alternate deployment methodologies, Lite Access remains flexible and innovative in its commitment to enable global clients and partners with the most cost effective and proven fibre connectivity 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 period ended December 31, 2016 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
For further information: Lite Access Technologies Inc., Phone: 1-604-247-4704, Unit 5 - 20678 Duncan Way, Langley, BC V3A 7A3, www.liteaccess.com; For investor relations please contact: Rob Gamley, Phone: 1-604-689-7422, Email: [email protected], Contact Financial Corp., 810 - 609 Granville St., Vancouver, BC V7Y 1G5