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)
Hard Rock Hotel & Casino Ottawa is the company’s new Canadian jewel
There’s a buzz of excitement at Hard Rock Hotel & Casino Ottawa as a $350-million transformation of the former Rideau Carleton Raceway nears completion. This high-energy entertainment destination will soon
The Hard Rock Hotel & Casino Ottawa includes a 150-room hotel, expanded gaming facilities, restaurants and performance spaces. The transformation of the Rideau Carleton Casino into the Hard Rock Hotel
The company says the additional funds will also help it create its next generation of products to meet customer demand.
