Enablence Technologies Inc.

TSX VENTURE : ENA


Enablence Technologies Inc.

December 07, 2012 12:14 ET

Enablence Technologies Announces Appointment of New Director and Share Consolidation

OTTAWA, ONTARIO--(Marketwire - Dec. 7, 2012) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of optical components and subsystems for telecommunication access, metro and long-haul markets and enterprise and other applications, announces the appointment of Louis De Jong as a director of Enablence, subject to the approval of the TSX Venture Exchange. Enablence also advises that following approval by its shareholders at its annual and special meeting held on December 5, 2012, it has filed articles of amendment to consolidate the common shares of the Company on a 1-for-20 basis effective December 5, 2012. Subject to TSX Venture Exchange approval, it is expected that the common shares of the Company will commence trading on a consolidated basis on December 11, 2012.

Mr. De Jong is the founder and managing partner of De Jong & Co., a boutique merchant bank which provides investment and financial advisory services. Previously, Mr. De Jong was the co-founder and managing director of Jemekk Capital Management Inc., a hedge fund manager. From 1998 to 2004, Mr. De Jong was employed by Credit Suisse First Boston where he most recently served as Director and Head of Canadian Equities. Mr. De Jong is a graduate of the University of Western Ontario (Economics) and a member of the Canadian Institute of Chartered Accountants.

"We are very pleased that Louis De Jong has joined as a director of the Company. He is an excellent addition to the Board given his extensive experience in the investment industry and background" said Peter Dey, Chair of the Board of Directors of Enablence.

About Enablence Technologies Inc.

Enablence Technologies Inc. is a publicly traded company (TSX VENTURE:ENA) 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 photonics components and broadband subsystems that deliver a key portion of the infrastructure for 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 including approvals by the TSX Venture Exchange. 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.

Contact Information

  • Enablence Technologies Inc.
    John Roland, Director
    613 656 2850 ext. 0