EnWave Announces Updates to Regular Course Issuer Bidding, The Canadian Business Journal

VANCOUVER, British Columbia, November 21, 2022 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave” or “we”) Today, we announced that the TSX Venture Exchange (“TSXV”) has conditionally accepted our regular course publisher bids, subject to meeting all TSXV requirements.

Under normal course publisher bidding terms, EnWave may acquire up to 10,798,644 shares of common stock, representing 10% of EnWave’s public float as of November 21, 2022. The price of its common stock, in the opinion of our Board of Directors, does not reflect the underlying values ​​of our company, including our growing royalty portfolio, financial position and other significant commercial opportunities. Accordingly, EnWave believes that the purchase of its common stock and its return to the Treasury, if the company deems appropriate, presents an opportunity to enhance value for current shareholders.

As of November 21, 2022, the Company has 110,440,055 common shares outstanding. Under TSXV policy, EnWave is entitled to purchase up to 10,798,864 shares and up to 2,208,801 shares in his 30-day period.

The purchase will commence on November 24, 2022 and will end on November 23, 2023 or may be completed by EnWave pursuant to a regular course publisher notice of intent to bid submitted to TSXV. will end some day sooner than later. The actual number of shares of common stock to be purchased and the timing of any such purchases will be determined by the Company. All shares purchased by the Company will be placed on the open market by Cormark Securities Inc. acting on behalf of EnWave in accordance with TSXV policy through his TSXV facility and the Company will deliver to its transfer agent for termination. The price EnWave pays for common stock purchased will be the market price of the stock at the time of acquisition.

EnWave did not purchase or cancel any shares of common stock based on the issuer’s bid for the previous regular course, which commenced on October 29, 2021 and expired on October 28, 2022.

About Enwave

EnWave is a world leader in vacuum microwave dehydration innovation and applications. From its headquarters in Vancouver, British Columbia, EnWave has developed a robust intellectual property portfolio, perfecting Radiant Energy Vacuum (REV™) technology, transforming innovative ideas into proven and consistent solutions for food, pharmaceutical and cannabis applications. transformed into a highly scalable drying solution. It significantly outperforms traditional drying methods in efficiency, capacity, product quality and cost.

With more than 45 royalty-generating partners across 20 countries and 5 continents, EnWave’s licensed partners create profitable, novel snacks and ingredients that are consistent with the quality of existing products. improve efficiency, operate leaner, and enter the market. Faster with our patented technology, licensed machines and expert guidance.

In addition, EnWave has formed NutraDried Food Company, LLC, a limited liability company, to manufacture, market and sell REV dried snack products, including the popular Moon Cheese in North America.^® Acts as a brand and third-party co-manufacturer.

EnWave’s strategy is to enter into royalty-bearing commercial licenses with food and cannabis producers who desire fast and economical drying, superior to freeze-drying, rack-drying or air-drying, to enjoy the following benefits: is.

• Food and ingredient companies can create exciting new products, reach optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

• Cannabis growers can dry 4-6 times faster, retain 20% terpenes and 25% cannabinoids, and reduce crop-destroying microbes by at least 3 logs.

Click here for details EnWave.net.

Enwave Co., Ltd.
Brent Charlton, CFA
Representative Director and President

For more information:

Brent Charleton, CFA, President and CEO +1 (778) 378-9616
Email: [email protected]

Dan Henriques, CFO +1 (604) 835-5212
Email: [email protected]

Safe Harbor Statement Regarding Forward-Looking Information: This press release may contain forward-looking information that is based on management’s expectations, estimates and projections. All statements that address expectations or projections regarding the future, including statements regarding our growth strategy, product development, market position, expected spending and expected synergies after closing are forward-looking statements. is. All third-party claims referenced in this release may not be accurate. All third party references to market information in this release may not be accurate as we have not conducted initial primary research. These statements are not guarantees of future performance and involve many risks, uncertainties and assumptions. Although we have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results to differ from those expected, estimated or intended. I have. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

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