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Enablence Technologies Inc announces strategic financing

Tuesday, 17 Jun 2014 05:00pm EDT 

Enablence Technologies Inc:Says non-brokered private placement financing up to $10 mln to be subscribed for in tranches by new strategic shareholders as well as certain existing shareholders of the Company (Financing).Financing is expected to raise up to $10,000,000 at a price of $0.15 per share resulting in the issuance of up to 66,666,666 common shares of the Company.Shares are subject to four month hold period pursuant to applicable securities laws.Initial tranche of the Financing is expected to close on or about June 25, 2014 and the final tranche of the Financing is expected to close on or about July 30, 2014.Proceeds from Financing are expected to enable Company to increase capacity to meet current and expected future demand associated with a number of recent contracts awarded by telecommunications equipment vendors.Enablence will also accelerate development of next generation integrated products to meet customer demands. 

Company Quote

25 Mar 2015