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Lite Access to extend 8.35 million warrants to 2025

2024-03-25 09:53 ET - News Release

Mr. Mark Tommasi reports

LITE ACCESS ANNOUNCES AMENDMENT TO WARRANT TERM

Further to its news release dated Feb. 22, 2024, Lite Access Technologies Inc. has continued to plan to extend the expiry date of 8,355,000 share purchase warrants exercisable at 10 cents per share from March 25, 2024, to March 25, 2025.

In addition to the extension, the company's existing acceleration provision will be amended in accordance with the rules of the exchange. Currently, the company may accelerate the expiry date of the warrants if the volume-weighted average price of the company's common shares is equal to or greater than 25 cents per common share for a period of 30 consecutive trading days. Under the amended acceleration provision, the company will be required to accelerate the expiry date if the closing price of the company's common shares is equal to or greater than 19 cents per common share for 10 consecutive trading days.

The extension is subject to final acceptance of the exchange.

About Lite Access Technologies Inc.

Recognized as an industry leader possessing years of experience in the telecommunications space, Lite Access offers total integrated solutions for all types of telecom requirements. Beginning with a comprehensive project analysis to engineering, design and permitting, Lite Access proudly offers a full complement of aerial and underground construction methodologies, including splicing, testing and maintenance.

The company's innovative approach, flexible products and installation solutions are combined with decades of experience and unparalleled passion. The Lite Access Way methodology of construction for both trunk and fibre to the premises (FTTx) connectivity has become a recommended and preferred method of fibre installation, globally.

Lite Access's installation technology and proprietary products extend a network provider's ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to providing global clients and partners with the most cost-effective and proven fibre connectivity solutions available.

We seek Safe Harbor.

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