VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 4, 2017) -
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LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE:LTE)(OTC PINK:LTCCF), a total integrated fibre optic solutions provider, is pleased to provide an update on its international expansion to the United Kingdom.
In its first 100 days in operation in the UK, Lite Access Technologies UK Ltd. (LATUK) has been incorporated as a company, set up offices and storage facilities, hired and trained staff in North Wales and invested significant capital in new plant and equipment to support its first customer deployments in connection with a major operator rolling out superfast, fibre to the home in the UK.
LATUK has completed over 100 homes of a large-scale project for a major UK network operator in a new roll out area in Wrexham, Wales.
The Company is also pleased to announce the appointment of Dylan Griffiths to the position of Managing Director of Lite Access Technologies UK Ltd. Mr. Griffiths, formerly the Company's Chief Operating Officer, is currently establishing the Company's business to provide advanced network installation services to the telecommunications industry in the United Kingdom. A former British Telecommunications Engineer with more than 25 years of fibre optic experience, Dylan has established a strong track record of securing long-term relationships with telecoms, internet service providers (ISPs) and municipalities, and of successfully establishing construction teams that strive to be innovative and professional in their approach to fibre network implementation.
"Our decision to enter into the UK market has proven to be a successful and ever expanding initiative," stated Mike Plotnikoff, CEO of Lite Access. "After extensive due diligence and forming strategic relationships with flexible and forward thinking companies, our proven technologies and method of installation, namely micro-trenching, is regarded as the solution of choice for fibre connectivity and enables rapid installation for aggressive fibre-to-the-home (FTTH) rollouts that are underway in many parts of the world."
Fibre to the Premise (FTTX) and Fibre to the Home (FTTH), sometimes referred to as "the last mile", is the delivery of a communications signal over optical fibre from the operator's switching equipment all the way to a home or business, thereby replacing existing copper infrastructure such as telephone wires or coaxial cable. FTTX is a rapidly growing method of providing vastly higher bandwidth to consumers and businesses, and thereby enabling more robust video, internet and voice services.
Billions of dollars are being spent to upgrade communications systems and the demand for the Fibre-Optic cable manufacturing and deployment industry has surged as downstream customers upgrade infrastructure that was delayed during the recession. Wireless carriers are expanding their fiber-optic cable networks as more carriers upgrade their networks and consumers increasingly demand high-speed internet on their mobile phones, necessitating more fiber-optic cable purchases.
Communications Internet speed (or lack of) has been described by some industry experts as the single greatest economic issue facing North America today, and an ever increasing demand for bandwidth caused by streaming video and music services, smartphone usage, and consumers and businesses using cloud based and real time communication services has created a surge in investment into last mile infrastructure by internet service providers, businesses, government and educational institutions. The Fiber to the Home Council Americas states that "Fiber-enabled applications and solutions have the potential to create value for service providers and their customers, promote economic development and enhance quality of life for communities".
About Lite Access
Lite Access is a world leader in Microduct and fibre optic technologies. Using its specially designed and innovative micro-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 thousands of kilometres of Microduct networks throughout North and South America, the United Kingdom, the Caribbean, Australia and Asia.
Lite Access' products have been deployed in many high-profile communication networks including the Whistler 2010 Winter Olympic facilities, builds within the state of New York including Central Park, the Las Vegas strip and surrounding areas of Nevada, fibre to the home at Stanford University and numerous other locations around the globe that have adopted Lite Access as the "solution of choice" for future proof fibre optic connectivity.
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 the Company's most recent Management Discussion & Analysis (MD&A) dated August 29, 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, the Company 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.
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