Enablence Technologies Announces Senior Management Change and Director Resignation

Enablence Technologies Announces Senior Management Change and Director Resignation

Ottawa, Canada – January 10, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems for access, metro and long-haul markets, today announced a change to its executive management team.

Scott Larin has been appointed as Chief Financial Officer of the Company, effective immediately, subject to TSX Venture Exchange approval.  Mr. Larin replaces Gerald Leahy who has stepped down as Interim CFO of the Company. Mr. Leahy has been a valued member of Enablence since 2012 and has made numerous contributions to the business.  The Company would like to thank him for his work over the years and wish him success in the future.

Mr. Larin is a seasoned finance executive with over 20 years of finance, capital markets and financial advisory experience.  Mr. Larin has held senior positions at several blue-chip independent and bank-owned investment dealers and has previously served as Chief Financial Officer of a privately held non-bank financial company.  Mr. Larin is a CFAâ charterholder and graduated from The Ivey Business School with an Honors Business Administration (HBA) degree in 1997.

Effective immediately, Yifan (Evan) Chen has resigned as a director of the Company.   The Board thanked Mr. Chen for his service both as an executive and a director

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About Enablence Technologies Inc.

Enablence is a publicly traded company that designs, manufactures and sells optical components and subsystems to a global customer base. It utilizes its patented technologies, including planar lightwave circuit intellectual property, in the production of an array of photonic components and broadband subsystems that deliver a key portion of the infrastructure for current and 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 regarding the business of the Company based on current expectations 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.

For further information contact:

Enablence Technologies Inc.

+1 613 656-2850 ext. 2

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.

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