Lite Access Technologies appoints new CFO

Lite Access Technologies (TSXV:LTE), a leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of payment announced the appointment of Arun Gupta as the Chief Financial Officer of the company.

Gupta who has 15 years of experience in finance will replace Scott MacEachern who will be stepping down. Gupta has been involved in several large transactions and is experienced in multi-location and international environment.

As quoted in the press release:

Gupta will be responsible for ensuring the finance department can enable the Company to continue to drive growth, capitalizing on the growing demand for the Company’s construction services.  He brings intimate knowledge of the telecommunications sector and his considerable experience in entities with international operations has provided him with the skills necessary to effectively manage multi-jurisdictional and cross-cultural finance teams, to implement effective and efficient corporate and tax structures and to ensure effective communication with senior management and the Board of Directors.

“Firstly, on behalf of our entire team and the Board of Directors, I would like to thank Scott MacEachern for his dedication and contributions to the Company during his tenure, including facilitating the transition from a private company to a public company.  We wish him all the best for the future,” said Carlo Shimoon, CEO of Lite Access. Mr. Shimoon continued, “We are delighted to welcome Arun to LAT, and very happy we were able to attract an individual of his caliber to our management team.  Arun brings a strong background to our finance team from his experience at other companies where he was instrumental in providing the financial strategy and leadership to help the organizations get to the next level of growth. His extensive knowledge and experience with reporting for over 350 retail locations compliments our strategy to improve tracking of our multiple crews in various geographical regions.  I’m confident we’ll be well positioned to meet our objectives concerning our capital planning as we accelerate growth and build a leadership position for our construction services moving forward.”

In connection with Mr. Gupta’s appointment, the Company has granted Mr. Gupta 100,000 stock options. Each Option entitles Mr. Gupta to purchase one common share in the capital of the Company at a price of $1.15 per share for a period of 5 years from the date of grant and is subject to certain vesting requirements.

“Lite Access is a massive and exciting opportunity,” Gupta said. “I am looking forward to working alongside Lite Access’ talented management team where I can provide financial leadership to assist the Company with its continued growth and rapid expansion while simultaneously driving shareholder value.”

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