VANCOUVER, July 13, 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 provide an update on the current operational activities of the Company.
Since closing the $20.45 million bough deal financing on March 28, 2017, the Company is executing on its accelerated growth plan, focusing on training and equipping employees as well as further streamlining "The Lite Access Way" for both trunk and FTTP connectivity in both the UK and Ireland. Having successfully demonstrated "The Lite Access Way" to a major network operator and continuing to build out networks on a daily basis, Lite Access UK's method of construction has become a recommended and preferred method in numerous cities and councils.
With "Project Lightning's" mandate to connect 17 million homes and businesses, Lite Access UK has focused on engaging new operators and construction companies for potential alliances and opportunities in support of build out in the UK.
"We are fully engaged and progressing towards fulfilling obligations for strengthening our business relationships with large organizations and ware working towards successfully satisfying the criteria and procedures required to move to the next stage," said Mike Plotnikoff, CEO of Lite Access. "With recent announcements from major network operators not meeting schedules and expectations as well as new entrants into the UK market, combined with a positive response to our proven micro / narrow trenching processes, Lite Access is in the best position possible and we are making strong progress in achieving our growth plan."
United Kingdom and Republic of Ireland
Lite Access UK Ltd. successfully opened its new office in Wrexham, Wales (pictured). In attendance with Managing Director of Lite Access UK, Dylan Griffiths, was Member of Parliament the Right Honourable Ian Lucas, a strong advocate for the Company. The Wrexham location will serve as the head office and the Company expects to set up satellite offices in areas outside this region based on new and identified locations for clients fibre deployments.
Lite Access UK continues to work in the Wrexham area and has also returned to Ireland to assist with additional training and certification for builds that have recently been announced. Since closing the $20.45 million bought deal financing (press released March 28, 2017), the number of employees has expanded to 65 with an expectation of having to increase further hire and training to support the growing list of new entrants as well as additional builds being identified on a constant basis. To be able to respond immediately to new fibre builds and network extensions, the training program enables teams to be cross-trained in both FTTP as well as trunk deployments.
Following the successful FTTH trial in Tullamore (press release dated April 11, 2017), Lite Access UK has returned to the Republic of Ireland to train additional crews with the expectation of potentially taking part in further fibre rollouts. Discussions are underway with several potential clients, however, no announcement is expected until all due diligence has been conducted and impact studies performed and analyzed.
Mr. Plotnikoff added, "In the UK and elsewhere we have witnessed the limitations of contractors using conventional means and capital-intensive equipment with large crews. They can achieve only a fraction of what Lite Access can complete using crews of only 4-6 and its specialized equipment and proven processes." Mr. Plotnikoff continued, "Pioneering and maintaining our focus on micro/narrow trench and alternate deployment methods for the past 13 years has enabled us with the most cost effective and efficient process possible. Having our core competencies in alternate fibre deployment methodologies as well as continually working on further advancements gives us strategic advantages in the marketplace.
"The large-diversified construction and infrastructure entities, which use large and expensive equipment as well as large workforces necessary for traditional construction, are experiencing criticism over the quality of their work due to high number of defects when using conventional equipment and processes," added Mr. Plotnikoff. "Like putting a square peg in a round hole when using large equipment and huge work crews to perform what only requires the 'Lite Access Way'."
Lite Access is increasing operations in the Kootenay region of British Columbia and locally in support of ongoing network expansion projects and the much anticipated release of Federal and Provincial Government funding assigned for many tenders the Company has been engaged in from the very beginning Lite Access is also pleased to report that it is operating at the highest safety standards in the industry, recently attaining 96% on the last set of tests for its Certificate of Recognition (COR) certification versus the BC Construction Safety Alliance (BCCSA) average of 88% achieved by companies.
The first narrow trench project for the City of New Westminster, British Columbia (press releases dated February 9 and March 29, 2017), encompassing backbone application with high fibre count at a new 24" depth, was recently completed using the Company's new and modified cutting equipment. The next generation of Lite Access' narrow trench machinery arrived at its Langley, British Columbia headquarters last week, the first in Canada and believed to be the first of its kind in North America. This new trencher will now enable a 5" cut by 36" deep at speeds equivalent to the Company's micro-trench equipment and at costs far less than conventional construction methods.
Mr. Plotnikoff, said, "Being flexible in our approach and commitment to evolving as necessary for the ever-changing industry, Lite Access remains significantly ahead of the competition. Now able to satisfy depths ranging from the recommended and preferred 12" to now 36" empowers Lite Access with an advantage over all others trying to enter into this growing industry of alternate deployments methodologies."
Lite Access has received a purchase order valued at over CDN $200,000 from its South Africa partner Brite Access SA for the LiteXTend last mile solution. To support network expansion efforts, Brite Access was first required to hire and train additional crews in response to satisfying major operators criteria for construction partners. Now that Brite Access has increased its capacity by adding trained crews and equipment for micro-trench projects in South Africa, the Company expects to receive additional orders from this partner.
Ongoing Expansion Plans
In eastern Canada, Lite Access recently attended the Municipal Information Systems Association (MISA) conference and met with Municipalities interested in building their own fibre optic infrastructure. In addition, the Company plans on expanding into the United States. A new US Sales VP, Gary Stahlbrand, possessing extensive experience and industry contacts was recently hired to pursue opportunities in this strong and growing market.
"We are currently in the process of developing strategic alliances with construction partners that will help support our expansion initiatives into these territories using our proven technologies. Adding new teams of Lite Access certified and trained construction partners is an integral part of our growth strategy," said Mr. Plotnikoff.
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., 1450 - 701 West Georgia St., Vancouver, BC V7Y 1G5