EnWave Announces Grant of Stock Options
December 12 2019 - 9:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that it has granted an
aggregate of 685,000 incentive stock options pursuant to the
Company’s Stock Option Plan (the “Plan”) to one director and
certain employees of the Company. The incentive stock options are
exercisable at a price of $1.74 per share, the last closing price
per share on the Company’s common shares on the TSX Venture
Exchange (“TSXV”) on the date of the grant. The incentive stock
options are exercisable for a term of five years expiring on
December 11, 2024 and will vest in accordance to provisions set out
in the Plan, or as otherwise required by the TSXV.
The Company also granted 25,000 incentive stock
options to Adelaide Capital Markets, an investor relations
consultant (the “Consultant”) providing investor relations services
to the Company in the North American capital markets. The incentive
stock options granted to the Consultant are exercisable at a price
of $1.74 per share and vest quarterly over the next twelve
months.
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 innovative, disruptive companies in multiple verticals for the
use of REV™ technology. The company has signed over thirty
royalty-bearing licenses to date. In addition to these licenses,
EnWave established a Limited Liability Corporation, NutraDried Food
Company, LLC, to manufacture, market and sell all-natural dairy
snack products in the United States, including the Moon Cheese®
brand.
EnWave has introduced REV™ as a disruptive
dehydration platform in the food and cannabis sectors: faster and
cheaper than freeze drying, with better end product quality than
air drying or spray drying. EnWave currently offers two distinct
commercial REV™ platforms:
- nutraREV® which is a drum-based
system that dehydrates organic materials quickly and at low-cost,
while maintaining high levels of nutrition, taste, texture and
colour; and,
- quantaREV® which is a tray-based system used for continuous,
high-volume low-temperature drying.
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, CFO 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.
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