Enablence Announces Closing of First Tranche of Financing
June 26 2014 - 6:19AM
Marketwired
Enablence Announces Closing of First Tranche of Financing
OTTAWA, ONTARIO--(Marketwired - Jun 26, 2014) - Enablence
Technologies Inc. ("Enablence" or the "Company") (TSX-VENTURE:ENA),
a leading supplier of optical components and subsystems for access,
metro and long-haul markets, today announced the closing of the
first tranche of a non-brokered private placement in the amount of
$1 million, at a price of $0.15 per share resulting in total shares
being issued of 6,666,666. The shares are subject to a four month
hold period.
As previously announced on June 17, 2014, this first tranche is
part of total financing which is expected to be subscribed for by
new strategic shareholders as well as existing shareholders and is
expected to raise up to an amount of $10,000,000 (the "Financing")
at a price of $0.15 per share resulting in the issuance of up to
66,666,666 common shares of the Company. The Financing has received
conditional approval from the TSX Venture Exchange. The shares will
be subject to a four month hold period pursuant to applicable
securities laws.
The proceeds from the Financing are expected to enable the
Company to increase capacity to meet current and expected future
demand associated with a number of recent contracts awarded by
telecommunications equipment vendors. Enablence will also
accelerate development of next generation integrated products to
meet customer demands.
About Enablence
Technologies Inc.
Enablence is a publicly traded company that designs,
manufactures and sells optical components and subsystems to a
global customer base. It utilizes its patented technologies,
including planar lightwave circuit ("PLC") intellectual property,
in the production of an array of photonic components and broadband
subsystems that deliver a key portion of the infrastructure for
current and next-generation telecommunication systems. The
Company's product lines address all three segments of optical
networks: access - connecting homes and businesses to the network;
metro - communication rings within large cities; and long-haul -
linking cities and continents. For more information, visit
www.enablence.com.
Forward-looking Statements
This press release may contain forward-looking statements
regarding additional tranches of the financing transaction, funding
of ongoing operations based on current expectations, future demand
for products, forecasts and assumptions which involve risks and
uncertainties associated with our business and the economic
environment in which the business operates. All such statements are
made pursuant to the 'safe harbour' provisions of, and are intended
to be forward-looking statements under, applicable Canadian
securities legislation. Any statements contained herein that are
statements of historical facts may be deemed to be forward-looking
statements. By their nature, forward-looking statements require us
to make assumptions and are subject to inherent risks and
uncertainties. We caution our readers of this press release not to
place undue reliance on our forward looking statements as a number
of factors could cause actual results or conditions to differ
materially from current expectations. Please refer to the risks set
forth in the Company's continuous disclosure documents that can be
found on SEDAR www.sedar.com. Enablence does not intend, and
disclaims any obligation, except as required by law, to update or
revise any forward looking statements whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Enablence Technologies Inc.Louis De JongChairman+1 613 656-2850
ext. 0www.enablence.com
Enablence Technologies (TSXV:ENA)
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