Mr. Scott Larin reports
ENABLENCE TECHNOLOGIES EXTENDS $7.5 MILLION OF EXPIRING CONVERTIBLE DEBENTURES TO DECEMBER 31, 2020
Enablence Technologies Inc. has entered into an amending agreement with all of the holders of its 10 per cent convertible debentures originally issued on June 30, 2017, by way of a private placement, to extend the original maturity date of the debentures from June 30, 2020, to Dec. 31, 2020. Other than the extension of the maturity date of the debentures, the other terms of the debentures remain unchanged provided that the debentures may not be converted into common shares in the capital of the company during the pendency of the current cease trade order issued by the Ontario Securities Commission on June 9, 2020, and the amendment remains subject to the approval of the TSX Venture Exchange.
The debentures bear interest at a rate of 10 per cent per annum, are payable quarterly and are convertible, at the option of the holder thereof, into shares at a price of eight cents per share (representing a conversion rate of approximately 12,500 shares per $1,000 of principal amount of debentures).
About Enablence Technologies Inc.
Enablence is a publicly traded company that designs, manufactures and sells optical components and subsystems to a global customer base. It utilizes its patented technologies, including planar light wave circuit intellectual property, in the production of an array of photonic components and broadband subsystems that deliver a key portion of the infrastructure for current- and next-generation telecommunication systems. The company's components are key elements in large optical network infrastructure builds, which enable global networking and large-scale computing for businesses and individuals, including data centres and 5G telecommunications networks.
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