Anticipates additional closings in
January 2022
OTTAWA, ON, Dec. 21, 2021 /CNW/ - Enablence Technologies Inc.
("Enablence" or the "Company") (TSXV: ENA), a
supplier of optical components and subsystems, is pleased to
announce that it has closed an initial tranche (the "Initial
Tranche") of its previously announced non-brokered private
placement (the "Private Placement"). In connection with the
Initial Tranche, the Company has issued and sold 694,440 common
shares of the Company (each, a "Common Share") at a price of
C$1.80 per Common Share, for total
gross proceeds of C$1,249,992. The
Company anticipates completing additional closings of the Private
Placement in January 2022 to increase
the total proceeds raised to C$1,500,000, as previously reported.
The net proceeds from the Private Placement are intended to be
used to repay certain accounts payable and accrued liabilities of
the Company, and for general working capital purposes.
The securities issued in connection with the closing of the
Initial Tranche of the Private Placement are subject to a hold
period under applicable Canadian securities laws which will expire
on April 22, 2022, being four months
and one day from the date hereof. The Private Placement is subject
to the final acceptance of the TSX Venture Exchange.
The securities offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, or any state securities law, and may not be offered, sold
or delivered, directly or indirectly, within the United States, or to or for the account or
benefit of U.S. persons, absent registration or an exemption from
such registration requirements. This news release does not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of securities in any state in
the United States in which such
offer, solicitation or sale would be unlawful.
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 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 components
are key elements in large optical network infrastructure builds
which enable global networking and large-scale computing for
businesses and individuals, including data centers and 5G
telecommunications networks. For more information,
visit www.enablence.com.
Forward-looking Statements
This news release contains forward-looking statements regarding
the Company based on current expectations and assumptions of
management, which involve known and unknown risks and uncertainties
associated with our business and the economic environment in which
the business operates. All such statements are forward-looking
statements under applicable Canadian securities legislation. Any
statements contained herein that are not statements of historical
facts may be deemed to be forward-looking statements. In
particular, this news release contains forward-looking statements
pertaining to the terms of the Private Placement, the use of
proceeds of the Private Placement, the timing and ability of the
Company to close additional tranches of the Private
Placement and the timing and ability of the Company to receive
necessary regulatory approvals for the Private Placement, including
the final acceptance of the TSX Venture Exchange. By their
nature, forward-looking statements require us to make assumptions.
Assumptions are based in part on the ability to fulfill the
remaining conditions precedent to the closing of, and secure the
required regulatory approval for, the Private Placement. These
statements are based on current expectations that involve several
risks and uncertainties which could cause actual results to differ
from those anticipated. These risks include, but are not limited
to, risks relating to the Company failing to obtain the requisite
regulatory (including the TSX Venture Exchange) approvals of the
Private Placement and ancillary matters; the impact of the
evolving COVID-19 pandemic on the Company's business, operations
and sales; uncertainties relating to the ultimate spread, severity
and duration of COVID-19 and related adverse effects on the
economies and financial markets of countries in which the Company
operates; and the ability of the Company to successfully implement
its business continuity plans with respect to the COVID-19
pandemic. Although the Company believes that the expectations
reflected in the forward looking statements contained in this news
release, and the assumptions on which such forward-looking
statements are made, are reasonable, there can be no assurance that
such expectations will prove to be correct. We caution our readers
of this news 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. Additional information on these and other factors
that could affect the Company's operations are set forth in
the Company's continuous disclosure documents that can be found on
SEDAR (www.sedar.com) under Enablence's issuer profile. 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 the 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 news release.
SOURCE Enablence Technologies Inc.