TORONTO, Sept. 27, 2021 /CNW/ - TeraGo Inc.
("TeraGo" or the "Company") (TSX: TGO)
(www.terago.ca), is on track to complete its planned 5G core
network expansion projects for 2021, in preparation for deploying
5G fixed wireless access services to its existing customer base and
5G private networking applications for new customers.
Using proceeds from the capital raise completed earlier this
year, TeraGo has been investing capital to increase capacity and
throughput in its core network and to its wireless hub sites. This
initiative is necessary to provide the network bandwidth that 5G
fixed wireless access and private networks will require. 5G private
networking applications are expected to take advantage of the
security, high speed, and low latency that TeraGo's licensed mmWave
spectrum offers. To enable these new applications, TeraGo is
expanding its overall network capacity this year by five to six
times its pre-expansion levels.
"We continue to diligently work through our network upgrade
plan, which includes over 50 projects that we expect to complete by
year-end," said Matthew Gerber,
Chief Executive Officer at TeraGo. "Some of these projects include
things like new fiber optic connections to our hub sites and core
network link upgrades to 100 Gbps. We have completed over 40 of
these projects to date and are currently on track to achieve our
project objectives by the end of the calendar year. We will
continue to target installing some of our first customer pilot
installations over the next couple of months and remain confident
in our ability to establish TeraGo as one of the first operators to
launch commercial mmWave 5G fixed wireless and private networking
services in Canada."
About TeraGo
TeraGo owns a national spectrum portfolio
of exclusive 24 GHz and 38 GHz wide-area spectrum licenses
including 2,120 MHz of spectrum across Canada's 6 largest cities. TeraGo provides
businesses across Canada with
cloud, colocation and connectivity services. TeraGo manages over
3,000 cloud workloads, operates five data centres in the
Greater Toronto Area, the
Greater Vancouver Area, and
Kelowna, and owns and manages its
own IP network. The Company serves business customers in major
markets across Canada including
Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg. For more information about TeraGo,
please visit www.terago.ca.
Forward-Looking Statements
This news release includes
certain forward-looking statements that are made as of the date
hereof. Such forward-looking statements may include but are not
limited to statements regarding the planned completion of 5G core
network expansion projects in 2021, the planned deployment of 5G
fixed wireless access services to its existing customer base and 5G
private networking applications for new customers, the
expected security, high speed and low latency of 5G private
networks, first customer pilot installations by year-end, and
becoming the first operators to launch commercial mmWave 5G fixed
wireless and private networking services in Canada. All such statements constitute
"forward-looking information" as defined under, applicable Canadian
securities laws. Any statements contained herein that are not
statements of historical facts constitute forward-looking
information. The forward-looking statements reflect the Company's
views with respect to future events and is subject to risks,
uncertainties and assumptions, including those risks set forth in
the "Risk Factors" section of the annual MD&A of the Company
for the year ended December 31, 2020,
available on www.sedar.com under the Company's corporate profile.
Factors that could cause actual results or events to differ
materially include the inability to complete expansion projects
within the 2021 calendar year, delays in the availability of
required equipment, the impacts and restrictions caused by the
COVID-19 pandemic are prolonged which may further delay customer
pilots and trials, the results of the trials not being satisfactory
to TeraGo or any of its technology partners, regulatory
requirements may delay or inhibit the trial, the economic viability
of any potential services that may result from the trial, the
ability for TeraGo to finance and support any new market
opportunities that may present itself, and industry competitors who
may have superior technology or are quicker to take advantage of 5G
technology. Accordingly, readers should not place undue reliance on
forward-looking statements as several factors could cause actual
future results, conditions, actions or events to differ materially
from the targets, expectations, estimates or intentions expressed
with the forward-looking statements. Except as may be required by
applicable Canadian securities laws, TeraGo does not intend, and
disclaims any obligation, to update or revise any forward-looking
statements whether in words, oral or written as a result of new
information, future events or otherwise.
SOURCE TeraGo Inc.