VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reports today that it has been added to The Cannabis ETF (NYSE:THCX) (“THCX”) which trades on the New York Stock Exchange. THCX follows the Innovation Labs Cannabis Index, which is a portfolio of 35 holdings expected to benefit from growth of the legal marijuana, CBD and hemp industries.
Mr. Brent Charleton, President and CEO of EnWave Corporation, remarks. “We’re excited about the access this fund provides for U.S. based investors. We’re proud of the progress we’ve made with our proprietary REV™ technology in the legal cannabis sector and we will continue to work towards securing partners in this rapidly growing sector.”
EnWave currently has three royalty-bearing commercial license agreements with Canadian cannabis companies and one royalty-bearing commercial license agreement with a hemp producer in the United States.
On June 3, 2019, EnWave was added to the Horizon Marijuana Life Sciences Index ETF (HMMJ.TO) (“HMMJ”). HMMJ is the world’s first ETF offering direct exposure to North American-listed securities that are involved with marijuana bioengineering and production. HMMJ has added additional companies to its portfolio as more firms have become eligible for inclusion in its underlying index – the North American Marijuana Index.
For more information on The Cannabis ETF (NYSE:THCX), please visit: https://thcxetf.com and https://thcxetf.com/2019/08/13/the-cannabis-etf-thcx-rebalance-further-diversifies-portfolio/.
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:
- 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;
- powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
- 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.
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
Dan Henriques, CPA, CA, Chief Financial Officer at +1 (604) 835-5212
Deborah Honig, Corporate Development at + 1 (647) 203-8793
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.
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