| Previous Close | 1.0700 |
| Open | 1.0600 |
| Bid | 1.0400 x 0 |
| Ask | 1.0500 x 0 |
| Day's Range | 1.0500 - 1.0600 |
| 52 Week Range | 0.5600 - 1.8700 |
| Volume | 27,100 |
| Avg. Volume | 64,059 |
| Market Cap | 116.98M |
| Beta (5Y Monthly) | 1.10 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0440 |
| Earnings Date | Feb. 26, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 1.45 |
- GlobeNewswire
EnWave Signs Royalty-Bearing Commercial License and Receives Deposit for 70kW of REV™ Machinery from NuWave Foods for the Production of Shelf-Stable Baked Goods
VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Royalty-Bearing Commercial License (the “License”) and an Equipment Purchase Agreement (the “Purchase Agreement”) with NuWave Foods, Inc. (“NuWave”), a Canadian company focused on launching new and innovative shelf-stable bakery products. Since May 2020, NuWave has been evaluating EnWave’s patented Radiant Energy Vacuum (“REV™”) dehydration technology and successfully developed several shelf-stable baked products it intends to commercialize under the License.NuWave has paid EnWave an initial non-refundable deposit to purchase both a 10kW and 60kW REV™ machine from EnWave. NuWave must remit a second milestone payment within ninety days (the “Milestone Payment”). If the Milestone Payment is remitted to EnWave before the agreed upon deadline, NuWave will retain the exclusive right to use REV™ technology in Canada and the United States to process shelf-stable donuts and fritters. Additionally, NuWave is required to purchase a second large-scale REV™ machine within eighteen months of the commissioning of the first large-scale machine to retain the exclusivity granted under the License.EnWave’s scalable and reliable vacuum-microwave technology can be used to significantly extend the shelf-life of baked goods, while maintaining textures and flavors that are comparable to freshly baked products. This presents a major opportunity to reduce loss from expired goods by elongating shelf-life and improving profitability for consumer baked goods companies. With over forty commercial licensees in a number of different food verticals, the signing of the License marks the entrance of EnWave into another major food vertical. EnWave believes that REV™ technology will provide significant value to the baked goods industry as the process slows the retrogradation or recrystallization of starch molecules, which contributes to the staling process.About NuWave Foods NuWave Foods is a 51% owned subsidiary of Blackhawk Growth Corp. (CSE:BLR). NuWave is a fully licensed commercial kitchen and baked goods manufacturer located in Edmonton, Alberta that is focused on the development and commercialization of shelf-stable baked products, without the use of any preservatives. NuWave was formed as a joint partnership between a group of like-minded professionals seeking to leverage their considerable contacts in North America’s food industry to rapidly become a leader in the rapidly changing space. NuWave seeks to leverage innovative food technologies to introduce new food products into the North American market.About EnWave EnWave Corporation, a Vancouver-based advanced technology company, has developed a 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: 1. 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, 2. 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, CFA President and CEOFor further information: Brent Charleton, CFA, President and CEO at +1 (778) 378-9616 E-mail: bcharleton@enwave.net Dan Henriques, CPA, CA, CFO at +1 (604) 835-5212 E-mail: dhenriques@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.
- GlobeNewswire
EnWave Appoints Mr. Pablo Cussatti to its Board of Directors, Announces Retirement of Director, Mr. Hugh McKinnon
VANCOUVER, British Columbia, Nov. 20, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company"), announced today that Mr. Pablo Cussatti has been appointed to EnWave’s Board of Directors. Mr. Cussatti brings 28 years of food operations and manufacturing experience to the Company. He is currently the Senior Vice President of Manufacturing for Ventura Foods and has extensive experience with other national brands such as Blue Apron, Pinnacle Foods, Pepsi Bottling Group, and Dean Foods. EnWave believes that Mr. Cussatti’s expertise will benefit the operations and growth prospects of NutraDried Food Company (“NutraDried”), the Company’s wholly-owned subsidiary, and other strategic initiatives currently underway at EnWave, including the buildout of a Radiant Energy Vacuum toll manufacturing facility. Mr. Cussatti’s appointment coincides with the retirement of Mr. Hugh McKinnon from his role as a Director. Mr. McKinnon is on a number of public and private company Boards and has decided to reduce the number businesses that he is involved with. EnWave is very grateful for the high-level governance and strategic guidance provided by Mr. McKinnon throughout his six-year tenure as a director of the Company. EnWave would like to thank Mr. McKinnon for his past contributions and ongoing support of EnWave.EnWave’s Board of Directors currently sits at seven members including Ms. Mary Ritchie (Audit Committee Chair), Mr. Stephen Sanford (Independence Committee Chair), Mr. Patrick Turpin, Dr. Steward Ritchie, Mr. Pablo Cussatti, Mr. Brent Charleton (EnWave’s President and CEO) and Mr. John P.A. Budreski (Executive Chairman).Upon his appointment to the Board of Directors, the Company has granted Mr. Cussatti an aggregate of 150,000 incentive stock options, subject to the terms of the Company’s Stock Option Plan (the “Plan”), that are exercisable at the last closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) on November 19, 2020. The incentive stock options are exercisable for a term of five years expiring on November 19, 2025 and will vest in accordance to the provisions set out in the Plan, or as otherwise required by the TSXV. The Company also granted Mr. Cussatti an aggregate of 20,000 Restricted Share Rights (“RSRs”) pursuant to the Company’s Restricted Share Rights Plan. The RSRs granted will vest three years from the date of the award.About EnWaveEnWave Corporation, a Canadian advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented 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: 1. 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, 2. quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machinery. More information about EnWave is available at www.enwave.net. EnWave CorporationMr. Brent Charleton, CFA President and CEOFor further information:Brent Charleton, CFA , President and CEO at +1 (778) 378-9616 E-mail: bcharleton@enwave.net Dan Henriques, CA, CPA, Chief Financial Officer at +1 (604) 835-5212 E-mail: dhenriques@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.
- GlobeNewswire
EnWave Signs Equipment Purchase Agreement GEA Lyophil GmbH and Advances Joint Pharmaceutical Technology Development
VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed an Equipment Purchase Agreement (the “Agreement”) with GEA Lyophil GmbH (“GEA”) to deliver a lab-scale Radiant Energy Vacuum (“REV™”) machine for the demonstration and development of REV™ technology for pharmaceutical applications. GEA will use the equipment to advance the commercialization of the technology for pharmaceutical applications. The lab-scale machine will be made available for trials with prospective pharma-industry purchasers of large-scale microwave-assisted lyophilization equipment. This machine will also be used for internal evaluation and technology advancement activities at GEA. This will allow GEA to better showcase EnWave’s technology to pharmaceutical companies as a first step in evaluating the merits of adopting larger-scale capacity.GEA intends to install the customized lab-scale REV™ machine at its pilot facility in Hürth, GermanyIn January 2020, EnWave and GEA announced a Joint Development Agreement, where the companies agreed to work closely to combine GEA’s leading pharmaceutical industry manufacturing capabilities with EnWave’s patented microwave-assisted lyophilization technology. GEA is a global leader in the design, manufacture, and installation of GMP equipment to the pharmaceutical sector, and is working with EnWave to incorporate REV™ technology into its suite of products. EnWave’s pharmaceutical technology allows for a rapid and controlled drying process for sensitive vaccines and biological compounds.Under the terms of the Joint Development Agreement, GEA will be responsible for the design, manufacture and sale of any large-scale REV™ equipment sold to the pharmaceutical sector, and EnWave shall earn an undisclosed royalty based on the revenue generated.About GEA Lyophil GmbH GEA Lyophil GmbH is part of the GEA group of companies. GEA is one of the largest technology suppliers for food and pharmaceutical processing, and a wide range of other industries. The global group specializes in machinery, plants, as well as process technology and components. GEA provides sustainable solutions for sophisticated production processes in diverse end-user markets and offers a comprehensive service portfolio.For more information about GEA, please visit www.gea.com.About EnWave EnWave Corporation, a Vancouver-based advanced technology company, has developed a 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: 1. 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, 2. 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, CFA President and CEOFor further information: Brent Charleton, CFA, President and CEO at +1 (778) 378-9616 E-mail: bcharleton@enwave.net Dan Henriques, CPA, CA, CFO at +1 (604) 835-5212 E-mail: dhenriques@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.
