Technical and customer trials focused on 5G business internet services to begin in the first half of 2020.
Toronto, Ontario – December 16, 2019 – TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), today announced that it will commence technical trials in the Greater Toronto Area (“GTA”) and Greater Golden Horseshoe Area in the first quarter of 2020, utilizing fixed wireless 5G millimetre wave equipment from Nokia Inc. (“Nokia”). The trials will be conducted on the 24 and 38 GHz frequency bands using both ISED developmental licences and TeraGo’s owned licensed spectrum. Customer trials are then planned to begin in the second quarter of 2020.
“International momentum for 5G fixed wireless services has been increasing and as a global leader in 5G technology, Nokia’s equipment is at the centre of many of these networks deployments”, said Tony Ciciretto, President and CEO of TeraGo. “In Canada, TeraGo is uniquely positioned to be one of the first operators to launch commercial 5G fixed wireless services as the largest holder of millimetre wave spectrum in the largest urban markets. The ultra-high bandwidth and low latency capabilities offered by 5G will allow us to deliver new innovative communications solutions to our customers, improve the efficiency of our network, and open new market opportunities for the Company.”
TeraGo’s fixed wireless spectrum assets include 14 of 20 licences issued in the 24 GHz band and 25 of 27 licences issued in the 38 GHz band, covering 2,210 MHz in Canada’s six largest cities or approximately 8.6 billion MHz-Pop’s¹. The Company’s national fixed wireless network is supported by a redundant fibre optic backbone with approximately 600 rooftops across Canada. Over the next year, TeraGo will continue to invest to enhance its network by bringing the benefits of 5G Fixed Wireless Access to businesses including enhanced speed, low latency, and fibre like reliability.
Stephan Litjens, General Manager, Nokia Digital Automation, said: “We are delighted to see Nokia Digital Automation Cloud (Nokia DAC) and mmWave equipment chosen for testing on 5G networks in Canada. We look forward to incorporating our expertise from our numerous deployments around the globe and are excited to be partnering with TeraGo to deliver on the advancements that come from 5G.”
¹ Based on ISED’s population figures for 2011.
TeraGo owns a national spectrum portfolio of exclusive 24 GHz and 38 GHz wide-area spectrum licences 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.
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 Nokia, the timing of such trials, the potential of 5G technology and the increased bandwidth speeds expected, TeraGo becoming one of the first operators to launch commercial 5G Fixed Wireless Access services, 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, 2018, and the MD&A of the Company for the three and nine months ended September 30, 2019, both 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 successful technical trials with Nokia’s 5G equipment, the results of the trials not being satisfactory to TeraGo or Nokia, ISED developmental licences may not be granted or approved for TeraGo’s use, 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.
For further information, please contact:
TeraGo Investor Relations
Dennis Fong, LodeRock Advisors