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Enablence Technologies Inc. Adds Derek J. Burney to Its Board of Directors and Announces Grant of Stock Options to Officer and Employee
Fremont, California and Ottawa, Ontario--(Newsfile Corp. - September 2, 2022) - Enablence Tech...
About this update from Enablence Technologies Inc.
[{"type":"text","content":"Enablence Technologies Inc. Adds Derek J. Burney to Its Board of Directors and Announces Grant of Stock Options to Officer and EmployeeFremont, California and Ottawa, Ontario--(Newsfile Corp. - September 2, 2022) - Enablence Technologies Inc. (TSXV: ENA) (\"Enablence\" or the \"Company\"), a supplier of optical components and subsystems, is pleased to announce the addition of Mr. Derek J. Burney to its Board of Directors, effective September 1, 2022 subject to the approval of the TSX Venture Exchange.Mr. Burney brings a wealth of knowledge and experience to Enablence. Mr. Burney was Corporate Vice President at Microsoft. Mr. Burney joined Microsoft in 2004 as GM of FrontPage and has held a variety of senior development leadership roles, overseeing the development and release of several Microsoft products including Excel 2013, Access 2013, and Windows SharePoint Services. Prior to joining Microsoft, Burney was president and CEO of Corel Corporation from 2000 to 2004, overseeing the development of all the company's software products. Mr. Burney is an advisor to the general partner of Vortex ENA LP, a senior secured lender and related party to the Company.Grant of Stock Options:The Company also announces that it has granted a total of 300,000 stock options to purchase common shares of the Company to certain officers and employees pursuant to the Company's Omnibus Equity Incentive Plan. Of the options granted, (i) 200,000 have an exercise price of $1.50 per common share of which 100,000 vest immediately and 100,000 vest upon the attainment of certain performance targets; and (ii) 100.000 have an exercise price of $1.85 per common share of which 25,000 vest immediately and 25,000 vest on each of the next three anniversaries of the date of grant. 200,000 options expire on July 18, 2025 and 100,000 options expire on August 25, 2032.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 centre and other rapidly-growing end markets. Enablence also works with customers that have emerging market uses for its technology, including medical devices, automotive LiD...