OTTAWA, CANADA--(Marketwire - Nov. 9, 2012) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of optical components and subsystems for telecommunication access, metro and long-haul markets and enterprise and other applications, announces a proposed share consolidation on the basis of one (1) post-consolidated common share for every twenty (20) pre-consolidated common shares (the "Consolidation"). The Consolidation is subject to shareholder approval at its upcoming annual and special meeting of shareholders to be held on December 5, 2012 and subject to approval by the TSX Venture Exchange approval.
If approved the Consolidation would reduce the Company's 590,679,167 issued and outstanding common shares to approximately 29,533,958 post-consolidated common shares. The exercise or conversion price of outstanding stock options and warrants would be proportionately adjusted based upon the final consolidation ratio.
About Enablence Technologies Inc.
Enablence Technologies Inc. is a publicly traded company (TSX VENTURE:ENA) that designs, manufactures and sells optical components and subsystems to a global customer base. It utilizes its patented technologies including planar lightwave circuit ("PLC") intellectual property in the production of an array of photonics components and broadband subsystems that deliver a key portion of the infrastructure for next-generation telecommunication systems. The Company's product lines address all three segments of optical networks: access (connecting homes and businesses to the network); metro (communication rings within large cities); and long-haul (linking cities and continents). For more information, visit www.enablence.com.
This press release may contain forward-looking statements, in particular with respect to shareholder approval of its proposed share consolidation, approval of the TSX Venture Exchange, and future growth of the continuing operations that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR www.sedar.com. Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release", there is an additional bit of sentences that need to be removed : courses, and project development and management.