EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
“Company”) reports today that EnWave has signed an
exclusive, royalty-bearing commercial license (the "License") with
Helius Therapeutics Ltd. (“Helius”). Helius is New Zealand's
largest licensed medical cannabis company with a strong focus on
research and development. It is also the first cannabis company in
the world to be certified as New Zealand Grown. Helius has a
state-of-the-art biotechnology facility in Auckland, New Zealand,
with large-scale indoor controlled growing systems, integrated
extraction site, an advanced cannabinoid research laboratory and
manufacturing operations. The License grants Helius the exclusive
right to use EnWave’s proprietary Radiant Energy Vacuum (“REV™”)
dehydration technology for the drying of cannabis in New Zealand
with the ability to sublicense to additional third-party Cannabis
companies.
Pursuant to the License, Helius has purchased a
10kW REV™ machine to use REV™ technology for commercial production
of dehydrated medicinal cannabis. In order to retain its
exclusivity under the License as well as sub-licensing rights,
Helius must purchase an additional REV™ machinery with 60kW or
greater rated power by June 2021.
Under the terms of the License, Helius will pay
EnWave a usage-based royalty based on the weight of cannabis dried
using the REV™ machine. The other terms of the License, including
the terms of the sub-licensing rights, are not disclosed.
This is the seventh commercial royalty-bearing
license for cannabis processing granted by EnWave, and its first
granted in New Zealand. EnWave has granted royalty-bearing
commercial licenses for cannabis dehydration in Canada, Europe,
Australia and New Zealand.
About Helius Therapeutics
Ltd.
Helius Therapeutics is New Zealand’s largest
medicinal cannabis company, specialising in the research,
development, cultivation, and manufacturing of GMP-certified
medicinal cannabis products. The company has built its
state-of-the-art facility in Auckland, with indoor controlled
growing systems, integrated extraction site, an advanced
cannabinoid research laboratory and manufacturing operations. As
New Zealand’s regulatory environment changes to allow commercial
production from early 2020, Helius is poised to set the standard
for effective and accessible medicinal cannabis products in the
region.
For more information on Helius Therapeutics
Ltd., please visit: www.helius.co.nz
About EnWave
EnWave Corporation, a Vancouver-based advanced
technology company, has developed Radiant Energy Vacuum (“REV™”) –
an innovative, proprietary method for the precise dehydration of
organic materials. EnWave has further developed patent-pending
methods for uniformly drying and decontaminating cannabis through
the use of REV™ technology, shortening the time from harvest to
marketable cannabis products.
REV™ technology’s commercial viability has been
demonstrated and is growing rapidly across several market verticals
in the food, and pharmaceutical sectors including legal cannabis.
EnWave’s strategy is to sign royalty-bearing commercial licenses
with industry leaders in multiple verticals for the use of REV™
technology. The company has signed over twenty royalty-bearing
licenses to date, opening up nine distinct market sectors for
commercialization of new and innovative products. In addition to
these licenses, EnWave has formed a Limited Liability Corporation,
NutraDried Food Company, LLC, to develop, manufacture, market and
sell all-natural cheese snack products in the United States under
the Moon Cheese® brand.
EnWave has introduced REV™ as the new
dehydration standard in the food and biological material sectors:
faster and cheaper than freeze drying, with better end product
quality than air drying or spray drying. EnWave currently has three
commercial REV™ platforms:
1. nutraREV® which is used in
the food industry to dry food products quickly and at low-cost,
while maintaining high levels of nutrition, taste, texture and
colour;
2. powderREV® which is used
for the bulk dehydration of food cultures, probiotics and fine
biochemicals such as enzymes below the freezing point, and
3. quantaREV® which is
used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being
developed as a new method to stabilize and dehydrate
biopharmaceuticals such as vaccines and antibodies. More
information about EnWave is available at www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFAPresident and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
Dan Henriques, CPA, CA, Chief Financial Officer at +1 (604)
835-5212 E-mail: dhenriques@enwave.net
Deborah Honig, Corporate Development at + 1 (647)
203-8793E-mail: dhonig@enwave.net
Safe Harbour for Forward-Looking Information
Statements: This press release may contain forward-looking
information based on management's expectations, estimates and
projections. All statements that address expectations or
projections about the future, including statements about the
Company's strategy for growth, product development, market
position, expected expenditures, and the expected synergies
following the closing are forward-looking statements. All third
party claims referred to in this release are not guaranteed to be
accurate. All third party references to market information in this
release are not guaranteed to be accurate as the Company did not
conduct the original primary research. These statements are not a
guarantee of future performance and involve a number of risks,
uncertainties and assumptions. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
Neither the 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
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/50246f6e-34e1-43c3-a03d-bd8e16123c1a
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