Enablence Announces Non-Brokered Private Placement Financing and Filing of Its Results for the First Quarter Ended September 30, 2014

OTTAWA, ONTARIO--(Marketwired - Nov. 28, 2014) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of optical components and subsystems for access, metro and long-haul markets, today announced a non-brokered private placement financing up to $3 million to be subscribed for by certain strategic investors (the "Financing"). The Financing has received conditional approval from the TSX Venture Exchange. The Financing is an extension of the financing activities that the Company has undertaken over the last several months some of which was delayed because of various third party approval processes.

Today the Company filed its financial results for the first quarter year ended September 30, 2014. Additional information concerning the Company, including its unaudited condensed consolidated financial statements and its Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") for the quarter ended September 30, 2014 can be found at www.sedar.com.

The Financing is expected to raise up to $3,000,000 at a price of $0.15 per share resulting in the issuance of up to 20,000,000 common shares of the Company. The shares are subject to a four month hold period pursuant to applicable securities laws. The Financing is expected to close on or about December 15, 2014.

The proceeds from the Financing are expected to meet certain obligations including the repayment of certain bridge and short term loans and provide working capital to the Company. The Company continues to be highly dependent on raising additional equity financing in order to fund operations, until revenues and gross margins increase to a point at which operations become profitable. In order to reduce cash requirements until additional financing can be secured, the Company has placed seven employees on temporary layoff status and is looking at other cost saving efficiencies.

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 ("PLC") 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 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 www.enablence.com.

Forward-looking Statements

This press release may contain forward-looking statements regarding the financing transaction, funding of ongoing operations, operations becoming profitable, are based on current expectations, future demand for products, 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 www.sedar.com. 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.