Technical trial to test 5G technology on TeraGo’s licenced 24GHz wireless spectrum
Toronto – October 10, 2018 – TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), announced that it will be initiating a technical trial in the Greater Toronto Area (“GTA”) utilizing fixed wireless 5G millimetre wave equipment from PHAZR Inc. (“PHAZR”). The trial will utilize TeraGo’s licenced spectrum in the 24 GHz frequency band. TeraGo operates a national fixed wireless network with thousands of access points across Canada.
“Next generation 5G technology creates a paradigm shift for wireless connectivity. It provides a massive increase in bandwidth that will enable new services, empower new user experiences and drive new industries,” said Tony Ciciretto, President and CEO of TeraGo. “As one of the largest holders of millimetre wave spectrum in Canada’s largest markets, TeraGo is committed to staying at the forefront of 5G technology to deliver innovative solutions to our customers and to open possible new market opportunities for the Company.”
PHAZR is a US-based virtualized radio access network (vRAN) provider offering one of the industry’s broadest portfolio of 5G millimetre wave systems for the licenced-bands in the 24 to 40 GHz frequency range. PHAZR’s 5G portfolio is being trialed today by three major U.S. operators. 5G technology is expected to be upwards of 40x faster than traditional millimetre wave transmission technology.
Farooq Khan, CEO of PHAZR added, “TeraGo is in a great position to be among the first to introduce 5G services to the Canadian market. Our equipment is proven in trials with top operators in the U.S. and Europe, and we are pleased to be supporting them in their efforts.”
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 upcoming 5G fixed wireless trial to be conducted with PHAZR, the potential of 5G technology and the increased bandwidth speeds expected, paradigm shift in wireless connectivity caused by 5G technology, the enablement of new services and industries, and new possible market opportunities for TeraGo. 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, 2017, which is 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 a successful technical trial with PHAZR with 5G technology, the results of the trial not being satisfactory to TeraGo or PHAZR, regulatory and developmental licence 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.
TeraGo owns and leases a national spectrum portfolio of exclusive 24GHz and 38GHz wide-area spectrum licences including 2,120 MHz of spectrum across Canada’s 6 largest cities. TeraGo provides businesses across Canada and internationally 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 over 3,000 business customers in 46 major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver and Winnipeg. TeraGo Networks is a Competitive Local Exchange Carrier (CLEC) and was recognized by IDC as a Major Player in MarketScape Cloud Vendor Assessment. TeraGo Networks was also selected as one of Canada’s Top Small and Medium Employers for 2017.
For further information, please contact:
TeraGo Investor Relations
Dennis Fong, LodeRock Advisors Inc.