EnWave Signs Royalty-Bearing License for Drying Cannabis in Canada with Glasshouse Botanics
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Vancouver, B.C., August 30, 2019
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company” - https://www.commodity-tv.net/c/search_adv/?v=299137 ) reports today that it has signed a royalty-bearing commercial sublicense (the "License") with Glasshouse Botanics Inc. (“Glasshouse Botanics”). Glasshouse Botanics cultivates high-quality medicinal cannabis at its licensed facility in Ontario, Canada. The License grants Glasshouse Botanics a non-exclusive right to use EnWave’s proprietary Radiant Energy Vacuum (“REV™”) dehydration technology for the drying of cannabis in Canada.
Under the terms of the License, Glasshouse Botanics will pay EnWave a usage-based royalty tied to the weight of finish dried cannabis dried using the REV™ machine.
Glasshouse Botanics will lease a small-scale 10kW REV™ machine for three months to initiate commercial production of dehydrated medical cannabis using EnWave’s REV™ technology. Glasshouse Botanics will have the option to purchase the 10kW REV™ machine at the completion of the three-month lease in order to extend the term of the License. All other terms of the License are confidential.
About Glasshouse Botanics Inc.
Glasshouse Botanics Inc. is a privately-held Canadian corporation cultivating and processing pharmaceutical-grade medicinal Cannabis flower and derivatives. The company’s facility is located in the Whitewater Region of Ontario, Canada, west of Ottawa. Glasshouse Botanics has recently received its Health Canada cultivation license, and the first 43,000 sqft of its planned 520,000 sqft greenhouse is substantially complete.
For more information on Glasshouse Botanics, please visit https://glasshousebotanics.ca/
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:
1. 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; and
2. quantaREV® which is used for continuous, high-volume low-temperature drying.
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
E-mail: [email protected]
Dan Henriques, CPA, CA, Chief Financial Officer at +1 (604) 835-5212
E-mail: [email protected]
Deborah Honig, Corporate Development at + 1 (647) 203-8793
E-mail: [email protected]
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