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Lite Access Technologies Announces Appointment of New Chief Financial Officer

VANCOUVER , July 24, 2019 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC PINK: 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 announce the appointment of Mr. Chui Wong as Chief Financial Officer (CFO).  Mr. Arun Gupta will remain Chief Financial Officer until Mr. Chui Wong assumes his new position on July 29 , 2019. 

"I'm delighted to welcome Chui to Lite Access as our new CFO," said Carlo Shimoon , CEO of Lite Access.  "Chui's wide-ranging experience in finance for both private and capital markets made him an obvious choice for the position.  Together with our team, we believe his executive level experience will be an asset to Lite Access as we focus on driving the Company's growth as well as delivering solid financial performance."  Mr. Shimoon added, "We wish to thank Arun Gupta for his strong contributions during his tenure and we wish him every success in his new endeavours." 

"I am thrilled to accept the CFO position at Lite Access," stated Mr. Chui Wong .  "I look forward to providing strong financial leadership to the Company and helping position it for growth in this dynamic industry."    

Mr. Chui Wong brings over 18 years of diverse international financial management experience.  Most recently, he was CFO of a group of public and private mining companies, where had oversight over the company's global finance, treasury, and tax functions and was actively involved in the company's corporate development, capital markets, and merger and acquisition activities.  Prior to that, he held various progressively senior financial management positions at Methanex Corporation and was Vice President, SEC External and Financial Reporting at Bear Stearns in New York City. 

Mr. Chui Wong began his career at Deloitte where he obtained his Chartered Professional Accountant designation and holds a Bachelor of Commerce from the University of British Columbia. 

The Company also announces it has granted 300,000 options to Mr. Chui Wong in conjunction with his appointment as CFO.  The stock options are exercisable at $0.30 per share with a 3-year term and subject to certain vesting requirements.  All options have been granted pursuant to the Company's stock option plan, and subject to compliance with applicable laws and the rules 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. Lite Access has successfully deployed or enabled deployment of thousands of kilometres of broadband networks throughout North America and the United Kingdom as well as South America , Africa , Australia and Asia .

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 of choice" for the least invasive, most cost effective and future-proof fibre optic connectivity available.

Lite Access' 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 provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Lite Access uses words such as "may", "would", "could", "will", "likely", "expect", "believe", "intend" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Lite Access in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to Lite Access' expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause Lite Access' actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: and risks and uncertainties described in Lite Access's most recent Management Discussion & Analysis (MD&A) for the period ended December 31, 2018 which can be accessed at www.sedar.com. The "forward-looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, Lite Access undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Lite Access Technologies Inc


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