Lite Access Closes Bought Deal Equity Financing of $20.45 Million

About this update from Ironman International Ltd.

Lite Access Closes Bought Deal Equity Financing of $20.45 Million /* 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, March 28, 2017 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, March 28, 2017 /CNW/ - LITE ACCESS TECHNOLOGIES INC. ("Lite Access") (TSX VENTURE: LTE)(OTC PINK: LTCCF) announces that it has closed its previously announced "bought-deal" financing of 9,090,000 common shares ("Common Shares") of Lite Access, which includes 2,223,000 Common Shares issued pursuant to the exercise of the underwriters' option in full and an oversubscription of 200,000 Common Shares, at $2.25 per share (the "Issue Price") for gross proceeds of $20,452,500 (the "Offering"). The Offering was underwritten by a syndicate of underwriters led by Cormark Securities Inc. and including Beacon Securities Limited, Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the "Underwriters").  In consideration of their services, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the Offering, and such number of broker warrants ("Broker Warrants") equal to 6.0% of the aggregate number of Common Shares issued pursuant to the Offering.  Each Broker Warrant is exercisable for one Common Share at the Issue Price for a period of 24 months from closing of the Offering. The securities issued under the Offering will be subject to resale restrictions expiring on July 29, 2017. The net proceeds of the Offering will be used to fund growth initiatives and for general corporate purposes. This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for account or benefit of, U.S. persons, absent registration or applicable exemption from the registration requirements. Any public offering of securities in the United States must be by means of a prospectus containing detailed information about the Comp...

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