LITE ACCESS TECHNOLOGIES ANNOUNCES APPOINTMENT OF NEW DIRECTORS

VANCOUVER, BC, July 29, 2022 /CNW/ - LITE ACCESS TECHNOLOGIES INC. ("Lite Access") (TSXV: LTE) (OTC: LTCCF), a world leader in the fibre optic products and advanced installation methodologies, is pleased to announce the appointments of Mr. Alex McAulay and Mr. Mike Irmen to the Board of Directors. 

Alexander McAulay, CPA, CA is an entrepreneur and experienced public company CFO and director. Mr. McAulay's firm, ACM Management Inc., provides fractional CFO and regulatory guidance to public companies. Alex has served as the CFO of several listed companies and has assisted dozens of issuers in navigating the public markets. 

Mike Irmen has been the owner of Ironman Directional Drilling LTD for over 14 years.  Having greater than 30 years' experience in the industry as an experienced and knowledgeable civil contractor has resulted in the award of numerous projects throughout British Columbia, Alberta and Saskatchewan.  Providing an organized approach to all projects including attention to safety, Mike successfully achieves ways to increase efficiencies and reduce costs in each project.

Mike Plotnikoff, interim Chief Executive Officer of Lite Access, stated, "We are incredibly pleased to have Alex and Mike as part of the team at Lite Access.  Having a Board of Directors possessing industry knowledge in furtherance of the company's strategy will contribute to the growth and success going forward.  More importantly, each of the newly formed board and management team hold meaningful positions in Lite Access each contributing to the overall success of the Company and in the best interest of our shareholders."

The Company also announces that it has granted a total of 5,645,000 stock options to its directors, officers, and employees.  The options were granted at a price of $0.10 per share and are exercisable for a period of five years from the date of grant.

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: risks and uncertainties described in Lite Access's most recent Management Discussion & Analysis (MD&A) for the financial year ended September 30, 2021 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

Lite Access Technologies Inc., Michael Plotnikoff, Interim CEO, Phone: [phone], 20108 Logan Avenue, Langley, BC V3A 4L6, www.liteaccess.com; For investor relations please contact: Rob Gamley, Phone: [phone], Email: [email protected], Contact Financial Corp., 204 - 998 Harbourside Dr., North Vancouver, BC V7P 3T2