Mr. Rob Gamley reports

LITE ACCESS INCREASES BOUGHT DEAL EQUITY FINANCING TO $15 MILLION

Lite Access Technologies Inc. has increased its previously announced bought deal financing to 6,667,000 common shares of the company. A syndicate of underwriters led by Cormark Securities Inc., and including Beacon Securities Ltd. and Canaccord Genuity Corp., has agreed to buy and sell to the public an additional 1,067,000 common shares of the company at a price of $2.25 per common share for additional gross proceeds to the company of $2,400,750. Total gross proceeds of the offering are now $15,000,750.

The underwriters will also have the option, exercisable in whole or in part at any time up to the closing of the offering, to purchase up to an additional 2,223,000 common shares of the company. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be $20,002,500. Closing of the offering is expected to occur on or about March 28, 2017, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities. The underwriters have agreed to endeavour to arrange for substituted purchasers for the common shares.

The net proceeds of the offering will be used to finance growth initiatives and for general corporate purposes.

About Lite Access Technologies Inc.

Lite Access is a world leader in microduct and fibre optic technologies.