EnWave Reports Successful Injunction Application Against Former CEO
Vancouver, BC, April 26, 2022
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.commodity-tv.com/ondemand/companies/profil/enwave-corp/ ) received today the written reasoning from the B.C. Supreme Court granting an injunction application against its former CEO, Timothy Durance, his companies and affiliates. EnWave continues to pursue its civil claims in the B.C. Supreme Court against several former EnWave employees and other parties, including Timothy Durance.
On July 30, 2021, EnWave filed an injunction application seeking orders restraining Mr. Durance, his companies and affiliates from selling or supplying vacuum microwave dryers pending trial.
On August 20, 2021, the court granted an order prohibiting Mr. Durance and his companies, and anyone acting in conjunction with them, from selling, attempting to sell, supplying, delivering or installing vacuum microwave dryers pending a more complete hearing of EnWave’s injunction application.
EnWave's injunction application was heard in the B.C. Supreme Court from January 17 to 20, 2022. On April 25, 2022, the court issued reasons for judgment ordering that the injunction against Mr. Durance, his companies and affiliates remain in place until the trial of EnWave's action. The reasons for judgment will be publicly available through the B.C. court website later today. A trial is scheduled for September 2023.
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Vancouver, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.
With more than forty-five royalty-generating partners spanning twenty countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.
In addition, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell REV-dried snack products within North America, including the popular Moon Cheese® brand, and serve as a co-manufacturer for third parties.
EnWave’s strategy is to sign royalty-bearing commercial licenses with food and cannabis producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits:
- Food and ingredients companies can produce exciting new products, reach optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.
- Cannabis producers can dry four to six times faster, retain 20% more terpenes and 25% more cannabinoids, and achieve at least a 3-log reduction in crop-destroying microbes.
Learn more EnWave.net.
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: [email protected]
Dan Henriques, CFO at +1 (604) 835-5212
E-mail: [email protected]
Swiss Resource Capital AG
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