January 18, 2018 – Vancouver, British Columbia, 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 provide comment on the recently announced liquidation of Carillion PLC and an update on UK operations.
Further to the recently announced liquidation of Carillion and, as it relates to the Company’s announced contract to help support and deliver BT’s Openreach Superfast Cymru fibre rollout in Wales (please see press release dated November 14, 2017), Lite Access refers shareholders to telent’s full statement to the press on January 16, 2018 (link: https://telent.com/news-media/news/carillion-telent-joint-venture-statement). The following excerpts highlight the ability of telent to ensure a smooth transition for customers and sub-contractors of the Carillion telent Joint Venture:
“Following the news of the liquidation of Carillion, we [telent] confirm that the Carillion telent Joint Venture (CtJV) remains open for business and there will be continuity of delivery to its customers. There will be no adverse impact to any of telent’s other business and customers .… Existing contracts will be honoured and continue to run as normal, including the two biggest contracts with Openreach and Gigaclear. All workers involved in the joint venture not currently employed by telent will transfer to telent, securing all jobs and delivery of the service. Subcontractors to the CtJV will continue to operate under their existing arrangements.”
Mike Plotnikoff, CEO of Lite Access, stated “For all of the reasons contained in the Carillion telent Joint Venture statement, we expect that the developments at Carillion will have no material impact on our business and operational activities on behalf of BT’s Openreach.” Mr. Plotnikoff continued, “Our teams continue to make excellent progress with the ramp up of our operational activities in the UK. Business development meetings to discuss significant fibre network roll out are currently taking place with UK telecoms operators and internet service providers. The Company expects to be in a position to report on the outcome of these meetings in due course”.
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 British Columbia, the USA and Alberta 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, 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.
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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 September 30, 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.