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Lite Access enters into Letter of Intent to acquire 100% of DSG Communications
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / June 22, 2015 -. LI...
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[{"type":"text","content":"Lite Access enters into Letter of Intent to acquire 100% of DSG Communications(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TheNewswire / June 22, 2015 -. LITE ACCESS TECHNOLOGIES INC. (the \"Company\") (CSE: LTE, Pink Sheets: LTCCF) is pleased to announce that it has entered into a Letter of Intent to acquire 100% of the issued and outstanding shares of DSG Communications Ltd (\"DSG\"), in consideration of which, the Company will make cash payments totaling $1,000,000 over a twelve month period (the \"Cash Consideration\") and issue such number of common shares of the Company equal to $1,500,000 divided by the discounted market price of the Company's common shares immediately prior to the announcement of the Letter of Intent in accordance with the rules of the Canadian Securities Exchange.\n\n \n \nAs a result of this acquisition, DSG will operate as a wholly-owned subsidiary of Lite Access Technologies.\n\n \n \nDSG Communications is at the forefront of developing and providing new fibre optics infrastructure deployment solutions, and has recently completed projects for a large number of organizations including:\n\n \n \n\n\n-Rogers Communications\n\n\n\n-Telus Corporation\n\n\n\n-Bell Canada\n\n\n\n-Shaw Communications\n\n\n\n-QNet\n\n\n\n-Columbia Basin Trust\n\n\n\n-Parks Canada\n\n\n\n-The Corporation of Delta\n\n\n\n-The City of Coquitlam\n\n\n\n-The City of Trail\n\n\n\n \n \nMichael Priest, CEO of Lite Access states: \"This strategic acquisition will give Lite Access a considerable advantage in the marketplace as well as numerous existing contracts for the deployment of fibre-optic networks including major Canadian communication companies. Combining DSG's many years of experience as the premier deployment specialist in the industry with our proven Micro-trench technology will allow us to focus on larger and more complex projects both in North America and abroad. Dylan Griffiths and his team bring considerable knowledge and expertise to the fold and we look forward to working together as a united force.\"\n\n \n \nDylan Griffiths, CEO of DSG states: \"The DSG team is very pleased to be joining our colleagues at Lite Access, in what is sure to be a very productive relationship. This acquisition is the result of a long and successful partnership between DSG and Lite Access, and with the financial backing and pe...