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Lite Access Technologies shows projects advancing apace

The specialist cable layer revealed several projects are advancing and highlighted possibilities for new business opportunities.

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New contracts could come in 30-60 days, Lite Access said.

Operations are progressing apace for Canadian cable layer Lite Access Technologies (CNSX:LTE).

The group, which is a specialist in air blown fibre and microduct cabling, today released an extensive update which shows several projects advancing and highlighted possibilities for new business opportunities.

At Haida Gwaii, the archipelago off the British Columbia coast, the company told investors it has made “rapid and significant” progress with two distance milestones now complete. These achievements trigger the corresponding milestone payments under the work contract.

Elsewhere in British Columbia, at Rossland, the group has done a deal to extend its work programme beyond the original network deployment in the downtown Rossland network.

And work also continues in the Kootenay region, in the southern part of the province, where the company is working for Shaw, the Canadian cable network.

In Alberta, the group said it has now covered about 50% of its network build in the Waterton area and work for the remaining connections are continuing.

It is also working on network extensions downtown Vancouver.

Lite Access says it is also seeing progress beyond Canada, including work to support and assist with ongoing builds in the United States - in New York State, Virginia and Massachusetts. And in Europe, it expects to start trials with British utility group Scottish Power within 60 days.

Several new bids and tenders have been made for projects both in Canada and abroad, and the company expects news from these within 30-60 days.

"The team at Lite Access is very proud of our achievements in recent weeks, from the fantastic progress made at Haida Gwaii to the solidifying of our existing client base with multiple expansions to current networks, to the significant projects that the company is being invited to bid on for major telecoms and organizations worldwide,” said Mike Plotnikoff, Lite Access chief technology officer.

“We know however, that our greatest achievements lie ahead of us, and we look forward to all that 2016 will bring."

Quick facts: Lite Access Technologies

Price: 0.73 CAD

TSX-V:LTE
Market: TSX-V
Market Cap: $43.71 m
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on 06/20/2016

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