Enablence closes first tranche of financing

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.

OBJ360 (Sponsored)

The company says the additional funds will also help it create its next generation of products to meet customer demand.

 

Get our email newsletters

Get up-to-date news about the companies, people and issues that impact businesses in Ottawa and beyond.

By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Sponsored

Sponsored