VANCOUVER, BC, July 29,
2022 /CNW/ - LITE ACCESS TECHNOLOGIES INC.
("Lite Access") (TSXV: LTE) (OTC: LTCCF), a world leader in
the fibre optic products and advanced installation methodologies,
is pleased to announce the appointments of Mr. Alex McAulay and Mr. Mike Irmen to the Board of Directors.
Alexander McAulay, CPA, CA is an
entrepreneur and experienced public company CFO and director. Mr.
McAulay's firm, ACM Management Inc., provides fractional CFO and
regulatory guidance to public companies. Alex has served as the CFO
of several listed companies and has assisted dozens of issuers in
navigating the public markets.
Mike Irmen has been the owner of
Ironman Directional Drilling LTD for over 14 years. Having
greater than 30 years' experience in the industry as an experienced
and knowledgeable civil contractor has resulted in the award of
numerous projects throughout British
Columbia, Alberta and
Saskatchewan. Providing an organized approach to all projects
including attention to safety, Mike successfully achieves ways to
increase efficiencies and reduce costs in each project.
Mike Plotnikoff, interim Chief
Executive Officer of Lite Access, stated, "We are incredibly
pleased to have Alex and Mike as part of the team at Lite
Access. Having a Board of Directors possessing industry
knowledge in furtherance of the company's strategy will contribute
to the growth and success going forward. More importantly,
each of the newly formed board and management team hold meaningful
positions in Lite Access each contributing to the overall success
of the Company and in the best interest of our shareholders."
The Company also announces that it has granted a total of
5,645,000 stock options to its directors, officers, and
employees. The options were granted at a price of
$0.10 per share and are exercisable
for a period of five years from the date of grant.
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.
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: risks and
uncertainties described in Lite Access's most recent Management
Discussion & Analysis (MD&A) for the financial year ended
September 30, 2021 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