They are kicking butt Go Lite VANCOUVER, BC, Sept. 14, 2020 /CNW/ - LITE ACCESS TECHNOLOGIES INC.(LTCCF) (the "Company") (TSXV: LTE) (OTC PINK: LTCCF) is pleased to announce that its shareholders have exercised 7,203,600 warrants for total proceeds of $4,682,340. The Company previously announced the acceleration of the expiry date of 7,385,700 share purchase warrants to September 11, 2020. The unexercised 182,100 share purchase warrants expired on September 11, 2020. This represents a 98% take up of the outstanding warrants.
"We are very pleased to have the ongoing support from our shareholders with these warrant exercises and recognizing the value that we are building in the Company," said Carlo Shimoon, President & CEO of Lite Access. "Our fourth quarter will deliver another quarter of growth with FY 2020 expected to be another significant growth year over FY 2019."
The proceeds from the warrant exercise strengthens the Company's financial position and the additional capital will be used to further the Company's efforts in the United Kingdom.