Enablence Technologies Inc.
TSX VENTURE : ENA

Enablence Technologies Inc.

January 26, 2010 17:06 ET

Enablence Technologies Inc. Prices Prospectus Offering

OTTAWA, ONTARIO--(Marketwire - Jan. 26, 2010) -

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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, is pleased to announce that, further to its press release dated January 14, 2010, it has entered into an agency agreement with a syndicate of agents led by Paradigm Capital Inc., and including Raymond James Ltd. (together, the "Agents") in respect to the offering of common shares (the "Offering") contemplated by the preliminary short form prospectus dated January 13, 2010. Under the terms of the Agency Agreement, the Agents will offer, on a best efforts basis, up to 62,500,000 common shares at a price of $0.40 per common share for gross proceeds of up to $25,000,000.

The Agents have been granted an over-allotment option for a period of 30 days following the closing of the Offering to arrange for the sale of up to an additional 9,375,000 common shares at the issue price. The Company anticipates filing a final short form prospectus on January 27, 2010. The Offering is expected to close on or about February 4, 2010. Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the applicable securities regulatory authorities and the TSX Venture Exchange.

The net proceeds from the Offering shall be used primarily for working capital purposes and potential acquisitions.

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-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.

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 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 January 13, 2010 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
    Chief Financial Officer
    613-270-7865