& cplSiteName &

Enablence Converts Debt

Light Reading
News Wire Feed
Light Reading
2/20/2013
50%
50%

OTTAWA -- Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of optical components and subsystems for telecommunication access, metro and long-haul markets and enterprise and other applications, is pleased to announce the closing of the previously announced debt conversion and non-brokered private placement financing. Enablence has closed the non-brokered private placement equity financing with certain existing shareholders issuing 9,121,212 common shares at a price of $0.33 per share (the "Share Price"). The aggregate amount of the private placement was increased to C$3,010,000 from the previously announced amount of C$2,720,000 (see press release of February 11, 2013). These shares are subject to a four month hold period pursuant to applicable securities laws which expires on June 20, 2013. The shareholders who subscribed are insiders of Enablence (each an "insider") participating in the private placement financing and each insider is a related party within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") (as more fully described in the press release of February 11, 2013). In addition, Enablence issued 10,834,346 common shares to former shareholders of Pannaway for the cancellation of certain unsecured convertible notes (the "Notes") and repayment of the debt in the amount of approximately US$3,500,000 at the Share Price. These shares are subject to a four month hold period pursuant to applicable securities laws which expires on June 20, 2013. Enablence Technologies Inc.

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
Light Reading founder Steve Saunders grills Cisco's Roland Acra on how he's bringing automation to life inside the data center.
Flash Poll
Upcoming Live Events
February 26-28, 2018, Santa Clara Convention Center, CA
March 20-22, 2018, Denver Marriott Tech Center
April 4, 2018, The Westin Dallas Downtown, Dallas
May 14-17, 2018, Austin Convention Center
All Upcoming Live Events
Infographics
SmartNICs aren't just about achieving scale. They also have a major impact in reducing CAPEX and OPEX requirements.
Hot Topics
Here's Pai in Your Eye
Alan Breznick, Cable/Video Practice Leader, Light Reading, 12/11/2017
Verizon's New Fios TV Is No More
Mari Silbey, Senior Editor, Cable/Video, 12/12/2017
Ericsson & Samsung to Supply Verizon With Fixed 5G Gear
Dan Jones, Mobile Editor, 12/11/2017
Juniper Turns Contrail Into a Platform for Multicloud
Craig Matsumoto, Editor-in-Chief, Light Reading, 12/12/2017
Cloudy With a Chance of Automation: Telecom in 2018
Iain Morris, News Editor, 12/12/2017
Animals with Phones
Don't Fall Asleep on the Job! Click Here
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed