TORONTO, Sept. 5,
2023 /CNW/ -
TERAGO Inc. ("TERAGO" or the "Company") (TSX: TGO), https://terago.ca/), today
announced corporate developments and reiterated confidence in its
5G strategy following the issuance of Innovation, Science and
Economic Development Canada's ("ISED") 2023-2027 Spectrum Outlook
("Outlook").
The Outlook provides additional clarity and insight as to ISED's
overall approach and planning activities related to its management
of Canada's radio spectrum over
the next five years. The announcement provides a major tailwind for
TERAGO's 5G Fixed Wireless Strategy thanks to its ownership of 24
GHz mmWave spectrum in Canada.
With the advancement of the 24 GHz mmWave spectrum to Priority 1,
TERAGO intends to further manifest its corporate 5G private network
strategy fueling industry innovation by significantly improving
productivity, quality, safety and cost savings.
"TERAGO works tirelessly to bring innovation and competition to
the Canadian marketplace, fueled by its unique customer focus and
its differentiated frequencies," said TERAGO CEO Daniel Vucinic. "The 24 GHz mmWave spectrum
upgrade to Priority 1 is much-needed clarity from ISED that
provides TERAGO with confidence to increase its investments in
next-generation service offerings, such as 5G and private networks,
and is an overall significant positive impact for Canadian
businesses. This investment builds on the research and development
and key learnings from our first-of-its-kind Private Network pilot
project with McMaster University.
TERAGO is primed to be a central partner in this exciting
ecosystem, and this encouraging milestone is one of the many
catalysts to kickstarting our Smart Growth strategy, creating
significant value for customers, and giving us the visibility to
reaffirm our long-term commitment to innovation in the
marketplace."
About TERAGO
TERAGO provides wireless connectivity and private 5G wireless
networking services to businesses operating across Canada. As Canada's biggest mmWave spectrum holders, the
Company possesses exclusive spectrum licenses in the 24 GHz and 38
GHz spectrum bands, which it utilizes to provide secure, dedicated
SLA guaranteed enterprise grade performance that is technology
diverse from buried cables ensuring high availability connectivity
services. TERAGO serves over 1,800 Canadian and Global businesses
operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless
services since 1999. For more information about TERAGO, please
visit www.terago.ca.
Forward-Looking
Statements
This news release includes certain forward-looking statements.
By their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond TERAGO's
control. Forward-looking statements may include but are not limited
to statements regarding the further developing our 5G Fixed
Wireless Access program, consistently executing across all fronts
of the business, success in providing Canadian enterprises with
managed services and the 5G fixed wireless trials being conducted
by the Company. 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"
sections in the annual MD&A of the Company for the year ended
December 31, 2022 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 consistently achieve sales growth across all lines
of TERAGO's business including managed services, inability to
complete successful 5G technical trials, the impacts and
restrictions caused by the COVID-19 pandemic are prolonged which
may further delay customer trials and/or cause a negative impact on
future financial results of the Company, TERAGO's Pandemic Response
Plan may not mitigate all impacts of COVID-19, the results of the
5G 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 further 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.