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Ottawa, Canada – September 25, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announces that it has filed its amended and restated audited annual financial statements for the year ended June 30, 2019 (the “Annual Financial Statements”). The Annual Financial Statements reflect additional accruals and common shares to be issued as commission pertaining to the Company’s issuance of promissory notes, and the issuance of common shares and the accrual of advisory fees. The Company is also correcting an error related to a historical long-term pre-paid asset and the related liabilities.

In connection with the filing of the Annual Financial Statements, the Company is also filing (i) an amended and restated management discussion and analysis for the year ended June 30, 2019 (the “MD&A“) in compliance with the requirements of National Instrument 51-102 – Continuous Disclosure Obligations, and (ii) CEO and CFO certifications in compliance with National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

The Company also announced that it has filed its unaudited interim financial statements (the “Quarterly Financial Statements”) for the three and nine-months ended March 30, 2020.

The Company is currently subject to a Cease Trade Order issued by the Ontario Securities Commission on June 9, 2020 as a result of the Company’s failure to file its Quarterly Financial Statements, MD&A and Certification by the June 1, 2020 deadline as prescribed by National Instrument 51-102 – Continuous Disclosure Obligations.  The Company will apply to revoke the Cease Trade Order, given the completion of the filings noted above and pursuant to National Policy 12-202 – Revocation of a Compliance-related Cease Trade Order.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks. For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Announces Intention to File Restatement of Previously Issued Annual Financial Statements to Reflect Non-Cash Accruals Related to Issuances of Notes, Common Stock, and Advisory Fees, Further Delay of March 31, 2020 Quarterly Financials, and the Receipt of Additional Funds from Note Issuances

Ottawa, Canada – July 22, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced that its Board of Directors, following the recommendation of its Audit Committee, is restating its previously issued audited annual financial statements for the year ended June 30, 2019 (the “Annual Financials”) to reflect additional accruals for commissions related to the Company’s continued issuance of promissory notes, an issuance of common stock and advisory fees.  The Company has been successful in raising greater than US$14 million over the periods noted and has received strategic advice on a number of mandates, however had not accrued related commissions or fees for these amounts, which are payable in common shares of the Company (excluding any related tax amounts which are payable in cash).  The previously issued Annual Financials should no longer be relied upon.  

For the reason noted above, the Company intends to extend the delay of the filing of its unaudited interim financial statements for the three and nine month periods ending March 31, 2020 (the “Quarterly Financials”).  The Company had previously delayed the filing of its Quarterly Financials due to experiencing complications related to the COVID-19 pandemic, notably travel restrictions and various shelter in place restrictions at the Company’s places of business and the places of business of customers and of suppliers, however these complications are no longer the reason for the delay of the Quarterly Financials.

The Company expects to file the following as soon as practicable, and within approximately three weeks from the date of this release,  (i) amended and restated audited annual financial statements for the year ended June 30, 2019, and required amendments to the related Management Discussion and Analysis (“MD&A”) and (ii) unaudited interim financial statements for the three and nine months ended March 31, 2020, and related MD&A.

The Company is subject to a Cease Trade Order issued by the Ontario Securities Commission on June 9, 2020 as a result of the Company’s failure to file its Financial Statements, MD&A and Certification by the June 1, 2020 deadline as prescribed by National Instrument 51-102 – Continuous Disclosure Obligations.  The Company will issue a subsequent news release announcing the completion the filings noted above and expects that the Cease Trade Order will be revoked shortly thereafter.

The Company is also pleased to announce an additional tranche of US$500,000 has been received as part its ongoing fundraising via notes payable.  Since July 1, 2019, the Company has been successful in raising over US$5 million via notes payable.

Additionally, to the knowledge of the Company, there have been no material business developments since the filing of its second quarter financial statements for the three and six month periods ending December 31, 2019 on March 2, 2020, other than as disclosed by the Company.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks. For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Updates Filing Date of Q3 Financial Statements

Ottawa, Canada – July 3, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced that it expects to file, on or about July 17, 2020, its unaudited interim financial statements for the three and nine month periods ending March 31, 2020 (“Financial Statements”), related management discussion and analysis (“MD&A”), and certification of the interim filings for the period ended March 31, 2020 (“Certification”). The Company will issue a subsequent news release announcing the completion of such filings and expects that the Cease Trade Order will be revoked shortly thereafter.

The Company is subject to a Cease Trade Order issued by the Ontario Securities Commission on June 9, 2020 as a result of the Company’s failure to file its Financial Statements, MD&A and Certification by the June 1, 2020 deadline as prescribed by National Instrument 51-102 – Continuous Disclosure Obligations. The Company previously expected to file its Financial Statements, MD&A and Certification on July 3, 2020.

The Company has experienced complications related to the COVID-19 pandemic, notably travel restrictions and various shelter in place restrictions at the Company’s places of business and the places of business of customers and of suppliers. The Company had planned to avail themselves of the OSC exemptions enacted in accordance with temporary blanket relief announced in March 2020 by the Canadian Securities Administrators in response to widespread business disruptions caused by the ongoing COVID-19 pandemic, but failed to file the required press release in respect of such exemption prior to the June 1, 2020 deadline.

Additionally, to the knowledge of the Company, there have been no material business developments since the filing of its second quarter financial statements for the three and six month periods ending December 31, 2019 on March 2, 2020, other than as disclosed by the Company.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks. For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Extends $7.5 Million of
Expiring Convertible Debentures to December 31, 2020

Ottawa, Canada – June 30, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company“) (TSXV: ENA), a leading supplier of optical components and subsystems, today announces that it has entered into an amending agreement with all of the holders of its 10% convertible debentures originally issued on June 30, 2017 by way of private placement (the collectively, the “Debentures“), to extend the original maturity date of the Debentures from June 30, 2020 to December 31, 2020. Other than the extension of the maturity date of the Debentures, the other terms of the Debentures remain unchanged; provided that the Debentures may not be converted into common shares in the capital of the Company (the “Shares“) during the pendency of the current cease trade order issued by the Ontario Securities Commission on June 9, 2020 and the amendment remains subject to the approval of the TSX Venture Exchange.

The Debentures bear interest at a rate of 10% per annum, are payable quarterly and are convertible, at the option of the holder thereof, into Shares at a price of $0.08 per Share (representing a conversion rate of approximately 12,500 Shares per $1,000 of principal amount of Debentures).

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks.  For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates, including in respect of the Debentures and the amendment described in this press release. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Announces Cease Trade Order and Late Filing of Financial Statements

Ottawa, Canada – June 11, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced that it is the subject of a cease trade order issued by the Ontario Securities Commission on June 9, 2020 as a result of the Company’s failure to file its unaudited interim financial statements for the three and nine month periods ending March 31, 2020 (“Financials”), related management discussion and analysis (“MD&A”), and certification of the interim filings for the period ended March 31, 2020 (“Certification”) by the June 1, 2020 deadline as prescribed by National Instrument 51-102 “Continuous Disclosure Obligations.

The Company has experienced complications related to the COVID-19 pandemic, notably travel restrictions and various shelter in place restrictions at the Company’s places of business and the places of business of customers and of suppliers.  The Company had planned to avail themselves of the OSC exemptions enacted in accordance with temporary blanket relief announced in March 2020 by the Canadian Securities Administrators in response to widespread business disruptions caused by the ongoing COVID-19 pandemic, but failed to file the required press release in respect of such exemption prior to the June 1, 2020 deadline.

The Company expects to file its Financials, MD&A, and Certification on SEDAR on or prior to July 3, 2020.  The Company will issue a news release announcing the completion of such filings at such time and expects that the Cease Trade Order will be revoked shortly thereafter. 

Additionally, to the knowledge of the Company, there have been no material business developments since the filing of its second quarter financial statements for the three and six month periods ending December 31, 2019 on March 2, 2020, other than as disclosed by the Company.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks.  For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Announces
Successful Funding of Paycheck Protection Program Loan

Ottawa, Canada – May 14, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced that its U.S. subsidiary received a loan in the amount of US$612,500 under the Paycheck Protection Program (PPP) administered by the U.S. Small Business Administration (“SBA”). The PPP is a loan program that originated from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  

The loan has a term of two years, is unsecured and is guaranteed by the SBA.  The loan carries an interest rate of 1% per annum, with payments of principal and interest deferred for six months.  The SBA will forgive loans if the loan proceeds are used to cover payroll costs (including benefits), rent and utilities during the eight-week period following the loan funding date.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks.  For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, Chief Financial Officer

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Announces
Successful Renegotiation of Loan Agreement with Senior Lender

Ottawa, Canada – May 11, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced changes to its secured term loan facility with Export Development Canada (“EDC”).  The term loan facility was first announced on March 3, 2016.

The Company and EDC agreed to the following amendments and waivers to the term loan facility (1) the total amount of outstanding advances (including capitalized interest) of approximately C$6.0 million will be capitalized, (2) EDC will waive each event of default resulting from the Company’s prior failure to make payments of interest (including default interest) and principal when due, and (3) the Company will commence making principal payments in 2020 according to a mutually agreed schedule. 

The Company will pay EDC an amendment fee in consideration of this amendment and waiver agreement to the term loan facility.  EDC will maintain all other past and future rights and privileges with respect to the secured term loan facility.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks.  For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, Chief Financial Officer

Enablence Technologies Inc.

+1 613 656-2850

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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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

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

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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Enablence Technologies Announces Changes to Management Team

Ottawa, Canada – May 26, 2020 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems, today announced changes to its management team. 

Steve Wang has decided to move on from Enablence to take a role at a company outside the optical industry.   Mr. Wang was hired with a mandate to focus the Company’s strategy on its industry leading optical chip design for data center and 5G telecommunications markets. This strategic focus has paid off with multiple design-in successes and business growing with several customers.  Therefore, it is an appropriate time to transition the leadership of the company to focus on revenue growth and profitability. 

Scott Larin, Chief Financial Officer, and Ashok Balakrishnan, co-founder and Vice-President, Engineering, will assume the roles of co-Chief Executive Officers of Enablence, subject to TSX Venture Exchange approval.  Mr. Larin will also retain the role of Chief Financial Officer and Mr. Balakrishnan will also be promoted to Chief Technology Officer.  The Company and the Board of Directors are pleased to have Mr. Larin and Mr. Balakrishnan jointly guide the Company into a new phase of growth.

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 components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks.  For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. 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 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) under Enablence’s issuer profile 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:

Scott Larin, co-CEO and CFO

Enablence Technologies Inc.

+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO

Enablence Technologies Inc.

+1 613 656-2850

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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Enablence Technologies Inc. Announces Filing of its Results for the Second Quarter Ended December 31, 2018 and Grant of Stock Options to CEO

Ottawa, Canada – March 1, 2019 – Enablence Technologies Inc. (“Enablence” or the “Company”) (TSXV: ENA), a leading supplier of optical components and subsystems for access, metro and long-haul markets, announced today it has filed its financial results for the second quarter ended December 31, 2018.  Additional information concerning the Company, including its unaudited consolidated financial statements (“Financial Statements”) and its Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) for the second quarter ended December 31, 2018 can be found at www.sedar.com.

On February 28, 2019, the CEO of the Company was granted stock options to purchase 8 million common shares of the Company at an exercise price of $0.05 CDN and an expiry date of February 28, 2029.  These options vest in 4 equal annual installments, on subsequent anniversary dates of the grant, commencing with the first 25% vesting on February 28, 2020.

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 (“PLC”) 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.

For further information contact:

Enablence Technologies Inc.

+1 613 656-2850 ext. 3

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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