VANCOUVER, BC , April 9, 2021 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the " Company " or " Lite Access ") (TSX VENTURE: LTE) (OTC PINK: LTCCF) announces further to its news release dated January 29, 2021 that Carlo Shimoon will be stepping down as President and CEO as of April 30, 2021 . Thereafter, Chui Wong will serve as interim CEO and Linda Han will be appointed as interim CFO. The Company also announces that it has appointed John Farlinger to the Board of Directors. The Company would like to thank Mr. Shimoon for all his efforts in overseeing the Company's multi-location business while serving as President and CEO.
" John Farlinger is a highly accomplished, results-driven executive with industry experience in telecommunications and fibre optics networks who will be a valuable addition to our already seasoned board of directors. Mr. Farlinger as a track record of growing enterprise value while focusing on bottom-line profits," commented Greg Smith , Chairman of the Company.
Mr. Farlinger has over 20 years of progressive entrepreneurial experience with start-ups and mid-size organizations. He is currently the Executive Chairman and CEO at Assure Holdings Corp. John is also the former Chairman and CEO of Urban Communications operating as Urban Fire in the great Vancouver and BC market. Mr. Farlinger brings extensive knowledge and experience in the telecommunications and network space.
Mr. Chui Wong joined Lite Access as CFO in July 2019. He brings over 20 years of diverse international financial management experience. Prior to Lite Access, he served as CFO for a group of public and private mining companies, where he 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. Previously, he held senior financial management roles 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 (CPA) designation. He holds a Bachelor of Commerce from the University of British Columbia (UBC).
Ms. Han joined Lite Access as corporate controller in November 2017 . She has over twenty years of experience in accounting, financial management and auditing. She held several senior positions with increasing financial and operational responsibilities across different industry sectors, including manufacturing, mining and bio-tech. Prior to Lite Access, she served as corporate controller of a TSXV listed medical device company for seven years, where she was responsible for financial operation and reporting, FP&A, cost control, cash management, tax and audit. Working closely with senior leadership, she assisted in planning and executing strategic initiatives, including process improvement, supply chain management, financing activities, M&A due diligence and integration after acquisition.
Linda is member of Chartered Professional Accountants (CPA, CGA) of British Columbia . She holds a Bachelor's degree of Economics in Finance and Accounting from Renmin University of China and a Master of Business Administration from Laurentian University .
The Company also wishes to announce that it has granted option to purchase 460,000 common shares at a price of $0.29 to the above noted directors and interim executive officers. The options will expire five years from the date of grant and be subject to certain vesting requirements.
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.
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 September 30, 2020 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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