Lite Access Announces $2.5 Million Private Placement

About this update from Ironman International Ltd.

Lite Access Announces $2.5 Million Private Placement /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire VANCOUVER, Feb. 14, 2020 VANCOUVER, Feb. 14, 2020 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce a private placement financing of up to 5,000,000 units (each a "Unit") at $0.50 per Unit for gross proceeds of up to $2,500,000 (the "Offering").   Each Unit consists of one common share of the Company and one share purchase warrant (each a "Warrant"), with each Warrant entitling 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 Company has the right to accelerate the expiry date of the Warrants if, at any time, the volume weighted average price of the Company's common shares is equal to or greater than $0.85 for 20 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 15 business days after the Company issues a news release announcing that it has elected to exercise this acceleration right. The Company may pay finders a fee in cash and/or share purchase warrants in connection with the Offering. The proceeds of the Offering will be used for targeted acquisitions and working capital purposes. The Offering is subject to the acceptance of the TSX Venture Exchange. 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 ...

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