Lite Access receives CAN$2.5 million private placement
Vancouver, British Columbia, based fiber network installation company Lite Access Technologies Inc. (TSX Venture: LTE) (OTC Pink: LTCCF) says it has closed a private placement financing agreement worth up to CAN$2.5 million. The company says it will use the cash infusion for targeted acquisitions and working capital purposes. The offering is subject to the acceptance of the TSX Venture Exchange.
Lite Access leverages its micro/narrow trenching technologies and related fiber deployment expertise to aid in the roll out of fiber-optic networks, particularly fiber to the premises (FTTP) fiber broadband infrastructures. Its customers include governments and municipalities in Canada, the U.S., and the UK., as well as communications services providers (see, for example, “Lite Access Technologies subsidiary to install fiber optic network in Chilliwack, BC” and “Carillion telent taps Lite Access for Openreach FTTP deployment in Wales”).
The funding agreement is constructed in the form of units. Each unit comprises a common share of the company and one share purchase warrant. each warrant entitles the holder to purchase one additional common share for a period of three years from the date of the issue at an exercise price of $0.65 per share. The placing is for up to 5 million units at $0.50 per unit. Lite Access says it may pay finders a fee in cash and/or share purchase warrants in connection with the offering. The other party or parties involved were not disclosed.
The company announced CAN$20.45 million in bought deal financing in 2017 (see "Lite Access Technologies raises cash, provides FTTH project updates").
For related articles, visit the Business Topic Center.
For more information on FTTx technology and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.
About the Author
Stephen Hardy
Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.
Voices of the Industry
