Enablence Technologies Inc.
TSX VENTURE : ENA

Enablence Technologies Inc.

April 15, 2009 16:46 ET

Enablence Technologies Inc. Files Preliminary Short Form Prospectus

OTTAWA, CANADA--(Marketwire - April 15, 2009) - NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES

Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of fibre-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 filed a preliminary short form prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia and New Brunswick in connection with a best efforts offering of common shares of the Corporation (the "Offering"). The net proceeds of the Offering are for working capital, particularly to strengthen the Corporation's balance sheet, expansion of product lines, vertical integration and for general corporate, research and development, and marketing activities.

The Offering will be led by Paradigm Capital Inc. with a syndicate comprised of Haywood Securities Inc. and Raymond James Ltd. (collectively, the "Agents"). Final pricing and determination of the number of common shares to be sold pursuant to the Offering will occur immediately prior to the filing of the (final) short form prospectus in respect of the Offering.

"The Corporation has the necessary financial resources to execute on its current activities. This Offering, however, will take Enablence to the next level in the Company's growth" says Arvind Chhatbar, the Corporation's Chief Executive Officer. "Although current market conditions are difficult, they present several opportunities for growing and strengthening Enablence's position in several product areas and geographical markets. This financing will provide us with the means to augment the initiatives and growth of the last few quarters by broadening our customer and market reach in FTTH systems and components" adds Mr. Chhatbar.

The Offering is subject to regulatory approval including approval of the TSX Venture Exchange.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE:ENA) 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-Premises (FTTP) product portfolio featuring a variety of architectural options. It enables services 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 implemented at over 420 services providers world-wide 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 world-wide, 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 Enablence's business and the economic environment in which the Enablence operates including in respect of Enablence's use of proceeds of the Offering and its proposed business objectives. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties Enablence caution readers of this news release not to place undue reliance on its 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 preliminary short form prospectus dated April 15, 2009 and the Enablence's continuous disclosure documents that can be found on SEDAR www.sedar.com. Enablence does not intend, and disclaims any obligation, expect 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
    Vice President - Finance
    613-270-7865
    www.enablence.com