Enablence Technologies Inc.

Enablence Technologies Inc.

April 18, 2012 09:15 ET

Enablence Technologies Finalizes Sale of Teledata

TORONTO, CANADA--(Marketwire - April 18, 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, announced today that it had completed the sale of Teledata Networks Ltd. ("Teledata") previously announced on March 14, 2012. Teledata has been sold to a special purpose vehicle established by Taldan Capital Limited (the "Acquirer") for a nominal cash payment, and the assumption by the Acquirer of the estimated $2.8 million working capital liability of Teledata.

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.

About Taldan Capital Limited

Taldan Capital Limited is a private equity group based in Israel and the US, focused on acquiring companies that have fundamental technological leadership in their respective sectors and have the potential to become cornerstone platform businesses with Taldan's insights, industry-specific resources, and operational experience. For additional information, visit www.taldancapital.com.

Forward-looking Statements

This press release may contain forward-looking statements, in particular with respect to the disposition of Teledata, the strategic alternatives and divestiture of the Systems segment 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 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.

Contact Information

  • Tim Thorsteinson
    Chief Executive Officer
    Enablence Technologies Inc.
    (647) 729-1605

    Uzi Hadar
    Managing Partner
    Taldan Capital Ltd.
    (650) 721-6800