Enablence Technologies Appoints Stan Besko as Its New Chief Financial Officer

Rhea-AI Summary

Enablence Technologies Inc. announces Stan Besko as new CFO, bringing over 25 years of financial and investment expertise in the technology sector. Besko's international operations and investment finance experience will be important assets as the company positions itself to meet growing demand for optical products globally. His financial management experience at Cisco and NTT will be especially meaningful to the growth plan.

Ottawa, Ontario--(Newsfile Corp. - September 15, 2023) - Enablence Technologies Inc. (TSXV: ENA) ("Enablence" or the "Company"), a leading provider of photonics semiconductors for datacom, telecom, automotive and artificial intelligence applications, today announced that Stan Besko has been named as the new Chief Financial Officer (CFO) of Enablence. Mr. Besko replaces Mr. T. Paul Rowland as the CFO of Enablence.

Todd Haugen, Chief Executive Officer (CEO) of Enablence, commented: "We thank Paul for his work to establish a financial foundation for Enablence and we wish him well."

Mr. Besko will play a key role in supporting the management team of Enablence as it executes its strategic growth plan at the center of which are its light detection and ranging (LiDAR) and Artificial Intelligence (AI) offerings based on advanced Planar Lightwave Circuit (PLC) technologies.

Mr. Besko brings more than 25 years of financial and investment expertise in the technology sector. Following a successful career in business and software consulting, he joined Hewlett-Packard and Cisco Systems where he performed key financial, operational, and strategic roles. He has deep experience operating internationally, including leadership assignments in both Canada and worldwide. Mr. Besko served as CFO Canada at Dimension Data and helped to lead the consolidation of NTT Canada's thirty plus acquisitions. Mr. Besko resides in Toronto, Canada and earned a bachelor's degree in economics from the University of Toronto and an MBA in Finance and Strategy from the Schulich School of Business, York University, Toronto, Canada.

"Stan Besko's deep experience in international operations and investment finance will be important assets as we position the company to meet the growing demand for our optical products in the United States, China, and the Rest of the World (RoW)," Haugen. He continued, "His financial management experience at Cisco, and NTT will be especially meaningful to our growth plan as we release our AI and LiDAR based products while accelerating the growth of our existing Datacoms business."

About Enablence Technologies Inc.

About Enablence Technologies Inc. is a publicly traded company listed on the TSX Venture Exchange (TSXV: ENA). The Company designs, manufactures, and sells optical components, primarily in the form of planar light wave circuits (PLC) and LiDAR technologies on silicon-based chips. Enablence products support a broad range of customers in the multi-billion, datacenter, telecom, automotive, and industrial automation industries. Enablence operates a wafer fab in Fremont, California with design centers in Canada and China supported by sales and marketing operations worldwide.

For more information visit: www.enablence.com.

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For more information contact:

Todd Haugen, CEO
Enablence Technologies Inc.
+1 (510) 226-8900
todd.haugen@enablence.com

Ali Mahdavi, Capital Markets & Investor Relations
am@spinnakercmi.com

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, including with respect to the strengthening of the Company's management team, Enablence's strategy, Enablence's ability to grow its business and create value for its stakeholders, 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.sedarplus.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180882