Enablence Technologies Extends $7.5 Million of Expiring Convertible Debentures to December 31, 2020

Ottawa, Ontario--(Newsfile Corp. - June 30, 2020) - Enablence Technologies Inc. (TSXV: ENA) ("Enablence" or the "Company"), a leading supplier of optical components and subsystems, today announces that it has entered into an amending agreement with all of the holders of its 10% convertible debentures originally issued on June 30, 2017 by way of private placement (the collectively, the "Debentures"), to extend the original maturity date of the Debentures from June 30, 2020 to December 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 (the "Shares") 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 annum, are payable quarterly and are convertible, at the option of the holder thereof, into Shares at a price of $0.08 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 lightwave 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 centers and 5G telecommunications networks. For more information, visit www.enablence.com.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates, including in respect of the Debentures and the amendment described in this press release. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not 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) under Enablence's issuer profile 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.

For further information contact:

Scott Larin, co-CEO and CFO
Enablence Technologies Inc.
+1 613 656-2850

Ashok Balakrishnan, co-CEO and CTO
Enablence Technologies Inc.
+1 613 656-2850

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58939