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)
Adapting to hybrid Work: How IAV Is simplifying office technology with BYOD solutions
You may have heard of BYOB, but have you heard of BYOD? BYOD, also known as “Bring your own device” is becoming a common practice for companies following hybrid work
Experience Canadian Culinary Excellence!
Every February, Ottawa turns into Canada’s culinary capital for the weekend. Chefs from across the country who have won their regional championships will converge on Ottawa Jan. 31 to Feb.
The company says the additional funds will also help it create its next generation of products to meet customer demand.
