Enablence Technologies Inc.

Enablence Technologies Inc.

December 22, 2009 18:47 ET

Enablence Grants Options and Adds Advisor

OTTAWA, CANADA--(Marketwire - Dec. 22, 2009) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long-haul markets, announced today that it has granted options to several staff members.

The Board of Directors has granted options to non-employee directors, officers, employees and consultants to acquire a total of 1,550,000 shares of the Company. These were granted to certain non-employee directors (200,000), certain officers (225,000) and employees and consultant - Krish Prabhu, former CEO of Tellabs as Advisor to the CEO of Enablence - (1,125,000). The options were granted in accordance with the Corporation's Amended and Restated Stock Option Plan except in respect to the options grants to the non-employee directors, which vest over a two year period, as to 50% on each of the first and second anniversaries of the date of grant. The options have an exercise price of $0.50 per share, (being the closing price on the TSX Venture Exchange on December 21, 2009) and the options are exercisable on or before December 21, 2019. After these grants, 7,720,300 common shares remain available for issuance under the Corporation's Amended and Restated Stock Option Plan.

"I am pleased to have Krish Prabhu as an Advisor as we aim to grow Enablence into a successful company at a time of rapid broadband growth" said Arvind Chhatbar, CEO of Enablence. "Krish's vast experience in his previous roles including that at Tellabs and Alcatel, will be of considerable value to Enablence as it enters a critical phase of growth".

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX: ENA-V) a publicly traded company headquartered in Ottawa, Canada, designs, manufactures and sells optical components, subsystems and systems to a global customer base.

Enablence's Systems Division has an expanding fiber-to-the-premise (FTTP) product portfolio featuring a variety of architectural options. It enables service providers to evolve their access networks from traditional copper-based networks to advanced optical communications access networks that are based on state-of-the-art IP and Ethernet standards, for triple-play voice, video and data services including HDTV, IP Telephony and ultrafast internet access. The Division's network equipment has been deployed with 420 service providers worldwide that serve over 4 million subscribers.

Enablence's Optical Components and Subsystems Division is a global leader in applying Planar Lightwave Circuit (PLC) technology to integrate multiple components into a single optical chip to reduce footprint and costs. Network and equipment designers around the world turn to Enablence for a variety of components and subsystems for access, metro and long-haul including transceivers, splitters, waveguides, optical channel monitors, multiplexers, ROADMs, switches, tunable dispersion compensators, and photodiodes. The Division serves over 120 system and subsystem developers and its products have been integrated in all major communications networks worldwide, serving tens of millions of subscribers.

Forward Looking Statements

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, 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 Corporation'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.

Contact Information

  • Enablence Technologies Inc.
    Ronald Benn
    Chief Financial Officer