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)
Regional Group races ahead in the net-zero game
Regional Group is not just talking about sustainability—it’s showing what’s possible. As the first real estate company to join the Ottawa Retrofit Accelerator (ORA) program, delivered by Hydro Ottawa, Regional
When David McPhedran’s parents emigrated from the United Kingdom in 1968, they didn’t have much, but Canada was known as the land of opportunity, and that’s what they sought for
The company says the additional funds will also help it create its next generation of products to meet customer demand.
