OTELCO to Appear at Information Session for Fiber Broadband Expansion in Alton, ME

A map of Alton showing OTELCO's existing and proposed fiber builds.

On this map of Alton, OTELCO’s existing Lightwave-Fiber infrastructure is in pink, and the proposed build in is yellow.

OTELCO, a telecommunications provider servicing areas of Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, announced a tentative agreement with the Town of Alton, Maine to expand Lightwave Fiber Internet to all Alton residents. An informational meeting will be held at the Alton Town Office on February 28, 2019, at 6:30 pm. Residents are encouraged to attend to ask questions and learn more about this Fiber-to-the-Premise (FTTP) project prior to voting to appropriate $150,000 toward construction of the project at the Alton Annual Town Meeting on March 30, 2019.

Should the voters approve the appropriation, OTELCO will apply to the ConnectME Authority for grant funding to assist Alton and OTELCO with the construction cost of nearly $700,000.

In 2017, OTELCO, with a grant from the ConnectME Authority, built FTTP to 33 underserved premises in Alton and, at OTELCO’s expense, connected an additional 36 homes in Alton. The FTTP network delivers speeds of at least 50 Mbps symmetrical, meaning 50 Mbps both up and down. The network expansion would deliver those bandwidths throughout the town should all the funding be approved.

“Our company was founded by rural Mainers more than a century ago when the major phone companies couldn’t make a business case to deliver telephone service to rural communities, “commented OTELCO President and CEO, Rob Souza. “Today’s announcement regarding this unique public/private partnership with Alton demonstrates our ongoing commitment to working with rural Maine communities and businesses to ensure they have the technology they need to compete and win in today’s economy.”

Alton Town Administrator, Ron Borja commented, “As much as this project will serve the current residents and businesses owners in Alton, it will also help the Town grow its economic base by offering the state-of-the-art connectivity that will draw other businesses to establish themselves here.”

The Town of Alton encourages all residents to attend the Feb 28th  informational meeting and to visit www.otelco.com/lightwave  to add their name to a list of residents who would like to have high-speed Internet in Alton.

OTELCO Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia. The Company’s services include local and long distance telephone, digital high-speed data lines, transport services, network access, cable television and other related services. With approximately 99,000 voice and data access lines, which are collectively referred to as access line equivalents, OTELCO is among the top 25 largest local exchange carriers in the United States based on number of access lines. OTELCO operates eleven incumbent telephone companies serving rural markets, or rural local exchange carriers. It also provides competitive retail and wholesale communications services and technology consulting, managed services and private/hybrid cloud hosting services through several subsidiaries.

Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results, or from any future results expressed or implied by such forward-looking statements. In addition to statements, which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects,” “intends,” “anticipates,” “plans”, or similar terms to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.