OTTAWA, ONTARIO -- (Marketwired) -- 06/20/14 -- Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE: ENA), a leading supplier of optical components and subsystems for access, metro and long-haul markets, announced that it has granted options to several employees, directors and officers of the Company.
The Board of Directors has granted options to non-employee directors, officers, employees and consultants to acquire a total of 9,340,000 shares of the Company. The options were granted to certain non-employee directors (1,650,000), certain officers (3,500,000), consultants (650,000) and employees (3,540,000). The options were granted in accordance with the Corporation's Amended and Restated Stock Option Plan, except in respect of vesting of options granted to non-employee directors and officers which vest over a two year period, at 50% on each of the first and second anniversaries of the date of grant.
The options have an exercise price of $0.15 (being the price of the recently announced strategic financing) and the options are exercisable on or before June 19, 2024.
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.
Forward-looking Statements
This press release may contain forward-looking statements regarding expectations, forecasts 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.
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.
Contacts:
Enablence Technologies Inc.
Louis De Jong
Chairman
+1 613 656-2850 ext. 0
www.enablence.com
