Enablence Technologies Inc. Announces Changes to Its Board of Directors

May 17, 2023 5:39 PM EDT | Source: Enablence Technologies Inc.

Ottawa, Ontario--(Newsfile Corp. - May 17, 2023) - Enablence Technologies Inc. (TSXV: ENA) ("Enablence" or the "Company"), a leading supplier of photonics semiconductors, is pleased to announce the addition of Mr. Oded Tal and Mr. Daniel Huff to its Board of Directors, effective May 17, 2022, subject to the approval of the TSX Venture Exchange. In addition, the company announces that Mr. Daniel Shmitt has resigned from the Company's Board of Directors effective immediately.

Commenting on the changes to the Company's Board, Mr. Derek H. Burney, chairman of Enablence, stated, "We are pleased to welcome both Oded and Dan to the Enablence Board. Their combined experience will be invaluable to Enablence as we grow our business." Mr. Burney further added, "On behalf of the Company's Board and management, I would also like to thank Dan Shmitt for his many years of service. We all wish him well in his future endeavours."

Mr. Tal brings a wealth of semiconductor knowledge and experience to Enablence. He is founder and CEO of the MAX Group, the foremost management, operations, and engineering services provider to the semiconductors industry. At MAX, Mr. Tal has held numerous executive roles for clients supporting M&A and presently serves as CEO of TSI Semiconductors where he was instrumental in its transformation and recent sale. Before joining MAX, Mr. Tal held various positions in the semiconductors and automotive industry, in the US and Israel, having previously served in the Israeli Air Force. Mr. Tal is currently on the advisory board of Alpha Motors and the Board of Directors of Hello Carl. Mr. Tal holds a B.Sc. in Industrial Engineering with focus on manufacturing from the University of New Haven, and a Masters in Engineering Management from The Ohio State University.

Mr. Huff is the founder of CHIPSact.com, a prominent source of information on government initiatives for the semiconductor industry, and is also the co-founder of a fast growing, VC-backed social networking start-up. He was previously a senior Presidential advisor in the White House and, prior to that, General Deputy Assistant Secretary for Enforcement at HUD. Mr. Huff has served as counsel to the Chairmen of both the Senate and House Judiciary Committees. Before coming to Washington, he was a management consultant with McKinsey and Company in New York. He's a graduate of the Columbia Law School. His work has been featured in numerous outlets including the Wall Street Journal, National Law Journal and LA Times.

About Enablence Technologies Inc.

Enablence is a publicly traded company listed on the TSX Venture Exchange (TSXV: ENA) that designs, manufactures and sells optical components, primarily in the form of planar lightwave circuits (PLC), on silicon-based chips. Enablence products serve a global customer base, primarily focused today on data center, automotive LiDAR, and other rapidly-growing end markets. Enablence also works with customers that have emerging market uses for its technology, including medical devices and virtual and augmented reality headsets. In select strategic circumstances, the Company also uses its proprietary, non-captive fabrication plant in Fremont, California to manufacture chips designed by third party customers.

For more information, visit: www.enablence.com.

For more information contact:

T. Paul Rowland, CFO
Enablence Technologies Inc.

Todd Haugen, CEO
Enablence Technologies Inc.

Ali Mahdavi, Capital Markets & Investor Relations

Cautionary Note Regarding Forward-Looking Information

This news 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. 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. These statements are based on current expectations that involve several risks and uncertainties which could cause actual results to differ from those anticipated. Although the Company believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. We caution our readers of this news 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. Additional information on these and other factors that could affect the Company's operations are 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.

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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