Business
Lite Access Technologies Provides Corporate Update on Current and Ongoing Operations
Lite Access Technologies Provides Corporate Update on Current and Ongoing Operations ...
About this update from Ironman International Ltd.
[{"type":"text","content":"\n \n \n \n Lite Access Technologies Provides Corporate Update on Current and Ongoing Operations\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 8, 2021\n \n /CNW/ -\n \n LITE ACCESS TECHNOLOGIES INC.\n \n (the \"\n \n Company\n \n \") (TSXV: LTE) (OTC: 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 an update on current activities and summary of recent developments.\n \n \n \n \n Received\n \n $525,000\n \n from UK Administrator\n \n \n \n \n The Company has received an approximately\n \n $525,000\n \n interim dividend payment from the UK business appointed administrator, FRP Advisory Trading Limited, with respect to the wind-up of Lite Access Technologies (UK) Limited (\"LAT UK\").\n \n \n \n Greg Smith\n \n , Chairman and Interim CEO of Lite Access, commented, \"We are very pleased with this favourable development.  This is non-dilutive working capital to help strengthen our balance sheet as we focus on executing current projects and pursuing large-scale opportunities in our pipeline.  Additionally, we expect to receive another distribution of similar size from our UK administrator in the coming months.\"\n \n \n \n \n Clearwater County,\n \n Alberta\n \n \n \n \n \n Lite Access is pleased to report that network construction in Clearwater County continues to proceed in a positive manner.  Selected as the preferred candidate to provide construction services connecting Sundrie to\n \n Olds, Alberta\n \n , greater than 90% of the network has been deployed to-date with construction continuing until weather permits.  Originally valued at approximately\n \n $750,000\n \n , the scope of the build increased by an additional\n \n $405,000\n \n resulting in a total value now estimated to be\n \n $1,150,000\n \n .\n \n \n \n \n The Ktunaxa Nation Council\n \n \n \n...