Vecima and MARA Technologies USA to Mark Official Start of U.S. Manufacturing to Meet NTIA’s Build America Buy America (BABA) Requirements

August 20, 2024 at 07:30 AM EDT

MEDIA ADVISORY

FOR IMMEDIATE RELEASE

Media representatives are invited to join launch event on Wednesday, August 28, starting at 11:00 am Eastern, 10456 N Holly Rd, Holly, Michigan

Media should RSVP to Jennifer Montpas, MARA Technologies USA at jen.montpas@maratechusa.com or 810-938-3383

Alan Davidson, Assistant Secretary of Commerce for Communications and Information and National Telecommunications and Information Administration (NTIA) Administrator, is scheduled to speak at the event
Local government officials and executives from Vecima and MARA Technologies USA also to share remarks

On August 28, Vecima will announce that its first U.S.-made internet network electronics equipment will roll off the production line of MARA Technologies USA’s Holly, Michigan manufacturing facility in support of the BABA requirements for the Broadband Equity Access and Deployment (BEAD) Program.

The $42.45 billion BEAD program to expand high-speed Internet access across the U.S. is administered by the Commerce Department’s National Telecommunications and Information Administration (NTIA).

MARA Technologies USA, a subsidiary of Invotek Group Inc., expects to add approximately 100 new U.S.-based workers for the manufacturing of certain of Vecima’s Entra^® Fiber Access Products.

As previously announced in February 2024, Vecima has partnered with MARA Technologies USA to manufacture its Entra^® SF-4X Optical Line Terminals (OLTs) in Holly, Michigan. These SF-4X OLTs are compliant with the BABA requirements for the BEAD Program.

For more information:

Making Internet for All in America Map -- Companies committing to create jobs and products in America for building high-speed Internet networks
Vecima Networks https://vecima.com
MARA Technologies USA https://invotekgroup.com/news/

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking information“). Forward-looking information is generally identifiable by use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “expects”, “forecasts”, “projects”, “scheduled” and similar expressions, and the negative of such expressions.

Forward looking information in this news release includes without limitation, any statements (express or implied) respecting: Vecima’s expectation that it will announce its first U.S.-made internet network electronics equipment will roll off the production line of MARA Technologies USA’s Holly, Michigan manufacturing facility on August 28, 2024; Mara Technologies USA, a subsidiary of Invotek Group Inc., expects to add approximately 100 new U.S.-based workers for the manufacturing of certain of Vecima’s Entra^® Fiber Access Products.

Forward-looking information are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. There can be no assurance that future developments will be those that have been anticipated. The material expectations, assumptions, and other factors used in developing the forward-looking information set out herein include or relate to the following, without limitation: Vecima will be able to successfully execute its plans, strategies, and objectives; the specifications and manufacturing processes of the Entra^® SF-4X Remote Optical Line Terminal (OLT) are compliant with the BEAD program and will continue to be compliant; Vecima’s ability to manufacture certain products in the United States.

Although management believes that the forward-looking information herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Vecima’s business, as more particularly described and referred to in the “Risk Factors” section the Company’s Annual Information Form dated September 21, 2023, as well as the Company’s continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.