Non-brokered deal with ZTE sells 77 million shares at a 50% discount
By Devika Patel
Knoxville, Tenn., Jan. 29 – Enablence Technologies Inc. said it will conduct a C$4.62 million non-brokered private placement of stock with ZTE Corp.
The company will sell 77 million common shares at C$0.06 apiece, a 50% discount to the Jan. 28 closing share price of C$0.12.
Settlement is expected in the first week of February.
Proceeds will be used for working capital and repaying loans.
Based in Ottawa, Enablence designs and manufactures optical components.
| Issuer: | Enablence Technologies Inc.
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| Issue: | Common stock
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| Amount: | C$4.62 million
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| Shares: | 77 million
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| Price: | C$0.06
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | ZTE Corp.
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| Pricing date: | Jan. 29
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| Stock symbol: | TSX Venture: ENA
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| Stock price: | C$0.12 at close Jan. 28
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| Market capitalization: | C$29.73 million
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