Ottawa-based optical component supplier Enablence has closed the first tranche of financing it says will help it meet current and future demand linked to recent contracts with telecommunication vendors.
Enablence says 6,666,666 shares were issued on Thursday at $0.15 per share for a total of $1 million. The shares will be on hold for four months.
This is the first stage of financing which is eventually expected to raise $10 million. The deal has received conditional approval from the TSX Venture Exchange.
(Sponsored)
OCOBIA eyes Ottawa BIA expansion as it gears up for election year
Michelle Groulx says it’s not difficult to spot the Ottawa neighbourhoods with their own business improvement area (BIA). That’s because, she says, BIAs are a visual and experiential representation of
Iconic spaces, lasting impressions
The Canadian Museum of History and the Canadian War Museum offer more than beautiful spaces; they provide meaningful settings celebrating heritage, culture and design. An architectural landmark overlooking Parliament Hill
The company says the additional funds will also help it create its next generation of products to meet customer demand.
