VANCOUVER, April 23, 2019 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC 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 announce it has appointed Mr. Cameron Cromwell to the position of Managing Director, UK.
Mr. Cromwell brings a wealth of experience in the global telecom, engineering and construction industry. He joins the Company from Southern Water where he was most recently engaged to introduce improvements to their £2.2 billion capital delivery programme. He also worked for Actavo implementing improvements to their Caribbean FTTH/FTTB operations and upon returning to the UK, was asked by Balfour Beatty to recover the troubled Crossrail Woolwich Station & Portals project.
Previously, Mr. Cromwell held a senior management position with the UK Atomic Energy Authority and was Executive Director of Operations at Jacobs Engineering. His career began with five years in the US Airforce followed by 10 years with Honeywell working across the US before he was offered a role in the UK.
Mr. Cromwell holds an MBA from Cranfield School of Business.
Carlo Shimoon, CEO of Lite Access, commented, "We are extremely pleased to welcome Cameron to lead our UK operations team. Executing on our UK strategy is one of our key corporate objectives and he possesses the expertise, judgement and energy to help us achieve our business objectives. Mr. Shimoon added, "Cameron has an established track record of delivering on large projects and his experience in the fibre rollouts will be critical in expanding our operations and capitalizing on immediate growth opportunities in the UK."
"I am delighted to join the Lite Access team as it continues to build on its positive reputation and construction activities in the UK," said Mr. Cromwell. "The demand for quality and timely delivery for fibre projects is increasing and I am very excited to lead the execution of our fibre rollouts to the highest industry standards using Lite Access' proven methods and capabilities."
In connection with Mr. Cromwell's appointment, the Company has granted options to Mr. Cromwell to purchase 300,000 shares at $0.65 per share for a period of 5 years from the date of the grant, vesting annually over 3 years, in accordance with the Company's Stock Option Plan.
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. Lite Access has successfully deployed or enabled deployment of thousands of kilometres of broadband networks throughout North America and the United Kingdom as well as South America, Africa, Australia and Asia.
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: and risks and uncertainties described in Lite Access's most recent Management Discussion & Analysis (MD&A) for the period ended December 31, 2018 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., Carlo Shimoon, CEO, 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