VANCOUVER, July 20, 2017 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE)(PINK SHEETS: LTCCF), a world leader in fibre optic products and advanced installation methodologies, today announced today that it has been awarded a contract in the amount of $315,000 for the supply and installation of a fibre optic network for Community Wireless Networks of Bamfield, British Columbia as part of "Project Gigafy Bamfield" (the "Project"). Using Lite Access' proprietary micro-trench and air blown fibre optic technologies will enable connectivity to many households in the most future proof, non-disruptive and cost-effective fibre manner possible.
Project Gigafy Bamfield intends to build a local fibre optic network that is scalable, secure, reliable and future proof. The objective is to connect all residents and businesses to a gigabit fibre network in Bamfield British Columbia, which is located on the west coast of Vancouver Island, and is accessible by an 80km active gravel logging road, by floatplane, or by boat. Funding for the Project has been approved by the Connecting Canadians program which aims to extend and/or enhance broadband networks for rural, remote and northern communities to provide access to high quality broadbands services to household to participate in the digital economy.
Mike Plotnikoff, CEO of Lite Access, stated, "We're very pleased with this contract award and the Government of Canada's investment in our country's digital economy through the Connecting Canadians program. Being able to access high-speed broadband is an essential driver for future growth, innovation and job creation." Mr. Plotnikoff added, "Importantly, the Government of Canada recently announced a $10 million investment for improving high-speed coverage to rural and remote households in Western Canada where Lite Access has established a strong presence and solid track record of success. We expect this program and other infrastructure funding initiatives to positively impact our business."
About Connecting Canadians
The Government of Canada created Connecting Canadians so that citizens in rural, remote and northern parts of the country can enjoy access to commerce, employment opportunities and distance education and make the most of the digital economy, no matter where they live. On July 11, 2017, Innovation, Science and Economic Development Canada announced more than 3,500 households in 22 rural and remote communities in British Columbia, Alberta and Manitoba will have improved high-speed Internet access thanks to an investment of almost $10 million from the Government of Canada. The funding, is being allocated through Connecting Canadians, a federal program that provides underserved communities with internet access at speeds of five megabits per second (Mbps) or more. The Connecting Canadians program allows Canadians in every region of the country to participate fully in the digital economy, from seizing new business opportunities to connecting with friends and family around the world.
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: please contact: 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