OTTAWA, CANADA--(Marketwire - Nov. 27, 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 further update to the previously announced non-brokered financings.

Enablence has closed the second and final tranche of its first non-brokered private placement financing by issuing 77,446,927 common shares for proceeds of Cdn$1,279,000, approximately Cdn$200,000 of the proceeds are conditional on the TSX Venture Exchange approval of one of the subscriber's personal information form (PIF) because the subscriber will hold over 10% of the issued and outstanding shares of the Company.

The second tranche was completed by the same investors at two different prices: (i) Cdn$288,149 at a price of Cdn$0.005 for an issuance of 57,629,919 common shares of Enablence, using the TSX Venture Exchange Policy on Temporary Relief from Certain Pricing Requirements, and (ii) Cdn$990,851 at a price of Cdn$0.05 per share for an issuance of 19,817,008 common shares of Enablence. The shares are subject to a four month hold period pursuant to applicable securities laws which expires on March 24, 2013.

The first tranche of the first private placement financing closed on November 2, 2012 for proceeds of Cdn$2,050,000, as detailed in a press release dated November 5, 2012. Subject to the application to the TSXV Venture Exchange following the Company's shareholder meeting on December 5, 2012 at which the Company's shareholders are being asked to consider a share consolidation on a 20 shares for 1 share basis, and subject to the approval by the TSX Venture Exchange, up to Cdn$3,975,000 in additional equity financing is expected to be raised and to close in two tranches in December 2012 and January 2013.

Certain of the proceeds from the second tranche of the financing will be used as follows: (i) operating expenses of the Company and its subsidiaries, and (ii) maintenance of certain loan arrangements with the Company's US bank. The remaining proceeds from the financing will be used for certain debt repayments and general working capital purposes.

One of the institutional investors (an "insider") in the second tranche of the private placement financing is a related party within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The independent directors of the Company (excluding Peter Dey who is associated with an investor), have determined that an exemption is available from the formal valuation requirements and minority shareholder approval requirements under MI 61-101 due to the circumstances of financial hardship of the Company and independent directors approved financing unanimously.

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

Forward-looking Statements

This press release may contain forward-looking statements, in particular with respect to equity financing commitments, application and approval of the TSX Venture Exchange, shareholder approval of the proposed share consolidation, 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 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.

Contact Information:

Enablence Technologies Inc.
John Roland, Director
613 656 2850 ext. 0