Enablence Technologies Inc.

Enablence Technologies Inc.

February 04, 2010 09:43 ET

Enablence Technologies Raises $28,750,000

OTTAWA, ONTARIO--(Marketwire - Feb. 4, 2010) - 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 it has successfully completed its previously disclosed public offering.

The Corporation issued an aggregate of 71,875,000 common shares (including 9,375,000 common shares pursuant to the exercise by the Agents of the over-allotment option in full) at a price of $0.40 per share for total gross proceeds of $28,750,000 (the "Offering").

The Corporation anticipates using the net proceeds of the Offering for working capital, general corporate purposes and acquisitions.

The syndicate of agents in respect to the Offering was led by Paradigm Capital Inc., and included Raymond James Ltd. (together, the "Agents"). The Agents received a commission equal to 6% of the gross proceeds of the Offering and compensation options entitling the Agents to purchase that number of common shares equal to 4% of the common shares sold pursuant to the Offering. Each compensation option is exercisable to acquire one common share of the Corporation at an exercise price of $0.40 per share for a period of 18 months.

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 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 cautions 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 short form prospectus dated January 27, 2010 and 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