TORONTO, Sept. 4, 2019 /CNW/ - TeraGo Inc. ("TeraGo" or the "Company") (TSX: TGO, www.terago.ca), is pleased to announce that it will be accelerating efforts to commercialize 5G Fixed Wireless Commercial Services in Canada utilizing 5G mmWave spectrum. To spearhead TeraGo's 5G strategy and development of the program, TeraGo has appointed Irv Witte to its Executive Leadership Team.
Mr. Witte has over 20 years of progressive leadership experience in the wireless communications sector. Prior to joining TeraGo, Mr. Witte was most recently involved in the Rogers Communications 600 MHz auction and in Network Product Management. He oversaw the successful initial launch of the chatr wireless brand, and has extensive experience in the B2B market, having served as VP of Rogers Wireless Business Marketing.
"I am pleased to welcome Irv to TeraGo's Executive leadership team to spearhead the 5G Program," said Tony Ciciretto, President and CEO of TeraGo. "As the largest holder of 24 and 38 GHz mmWave spectrum in Canada with over 90% of the licensed spectrum held covering 8.6 billion MHz-Pops1, TeraGo is uniquely positioned to utilize emerging 5G mmWave technology to accelerate the availability of enhanced fixed wireless solutions for business customers across the country."
Innovation, Science and Economic Development Canada's (ISED) recent 38 GHz regulatory decision also opens up the possibility for TeraGo to explore options for broader use applications of the spectrum, including working with other operators and stakeholders in the industry to deliver on the promise of 5G. All of TeraGo's 38 GHz licences will be eligible for renewal and conversion to flexible use to support future mobile 5G services.
"I am thrilled to join TeraGo, which has a unique combination of 5G mmWave spectrum assets, infrastructure and expertise in the Fixed Wireless Solution area," said Irv Witte, TeraGo's new Vice President 5G Program. "I am passionate about launching new products, services and innovative brands and look forward to leveraging my experiences in the wireless communications industry to position TeraGo as one of the first operators in Canada to introduce 5G based services."
1Market share of licensed mmWave spectrum based on MHz-Pop using ISED's posted 2011 population figures.
TeraGo owns a national spectrum portfolio of exclusive 24GHz and 38GHz wide-area spectrum licences including 2,120 MHz of spectrum across Canada's 6 largest cities. TeraGo provides businesses across Canada with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, operates five data centres in the Greater Toronto Area, the Greater Vancouver Area, and Kelowna, and owns and manages its own IP network. The Company serves business customers in major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg.
For more information about TeraGo, please visit www.terago.ca.
This press release includes certain forward-looking statements that are made as of the date hereof. Such forward-looking statements may include, but are not limited to, statements relating to TeraGo's 5G strategy and program, utilizing emerging 5G mmWave technology to accelerate the availability of enhanced fixed wireless solutions for business customers across the country, working with other operators and stakeholders in the industry to deliver on the promise of 5G, and TeraGo being one of the first operators in Canada to introduce 5G based services. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. The forward-looking statements reflect the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risk that TeraGo's growth strategy, strategic plan, and investments will not generate the result or sustainable growth intended by management, Mr. Witte's leadership of the 5G program may not generate the results desired, future ISED decisions in upcoming Consultations being unfavourable to the Company, the technical 5G trial the Company is currently conducting may not generate the results intended, the lack of availability of suitable 5G radio equipment, the inability of the Company to successfully launch a 5G fixed wireless business, new market opportunities for 5G may not exist or require additional capital that may not be available to the Company, and those risks set forth in the "Risk Factors" section in each of the annual MD&A of the Company for the year ended December 31, 2018 and the MD&A for the three and six months ended June 30, 2019, both available on www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TeraGo does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.
SOURCE TeraGo Inc.
For further information: TeraGo Investor Relations: Dennis Fong, LodeRock Advisors Inc., Telephone: 1-416-282-9930, Email: [email protected]