Enablence Technologies Inc. Announces Filing of its Results for the Year Ended June 30, 2018

Date : 10/29/2018 @ 11:37PM
Source : GlobeNewswire Inc.
Stock : Enablence Technologies Inc (ENA)
Quote : 0.01  -0.005 (-33.33%) @ 8:08PM

Enablence Technologies Inc. Announces Filing of its Results for the Year Ended June 30, 2018

Enablence Technologies (TSXV:ENA)
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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 year ended June 30, 2018. Additional information concerning the Company, including its audited consolidated financial statements (“Financial Statements”) and its Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) for the year ended June 30, 2018 can be found at www.sedar.com.

On October 26, 2018, the Company received a demand for repayment as well as a forbearance letter from Export Development Canada (“EDC”) on its EDC secured loan, providing the Company with three months to rectify the default on overdue principal and interest payments to EDC (for further details see Note 9 to the June 30, 2018 Financial Statements).

Over the past several months, Enablence has been in discussions with several interested parties regarding a potential financing. These discussions have considered a variety of financing alternatives including an equity investment, partnerships, joint ventures and other structures. Enablence is currently continuing these discussions to determine the optimal structure and amount of financing to realize on the current business opportunity.

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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