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EnWave Signs Royalty-Bearing License with Second New Zealand Cannabis Company and Completes GMP REV™ Machine Sale

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Vancouver, B.C., July 14th, 2021

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/enwave-corp/) announces that it has signed a non-exclusive royalty-bearing commercial license (the “License”) with a New Zealand cannabis company, Medical Kiwi Limited (“Medical Kiwi”). The License grants Medical Kiwi the right to use EnWave’s patented Radiant Energy Vacuum (“REV™”) technology for the production of cannabis products in New Zealand.

Medical Kiwi has purchased a 10kW REV™ machine that will be used to dry cannabis flower for use in medicinal products. This REV™ machine will be built to the standard of Good Manufacturing Practices (“GMP”) which will enable Medical Kiwi to export medicinal cannabis products to Europe and around the world.

EnWave’s REV™ technology offers a fast, gentle drying method that removes moisture homogenously from cannabis at selected low temperatures which are below the point of decarboxylation. When compared to incumbent drying methods, REV™ protocols can be customized to improve terpene retention in the order of 10% or greater, and preserve equivalent or higher cannabinoids when compared to conventional rack or room drying methods. Bioburden is also effectively eliminated when using select REVTM protocols. Drying times are reduced from multiple days to less than two hours. REV™ machinery are manufactured for GACP compliancy and GMP standards upon request – a key manufacturing competency of EnWave.

REV™ technology has been proven to create significant value at scale in the food and cannabis industries. EnWave has 44 licensed partners and more than 50 royalty-bearing REV™ machines in operation globally.

In Australia and New Zealand, EnWave partners are supported locally by EnWave’s exclusive

distribution partner Scitek. Scitek has over 30 years of experience in the sale and service of GACP

/ GMP grade vacuum facilitating technologies including vacuum drying as used in EnWave’s REV™ technology.

 

About Medical Kiwi

Medical Kiwi is cultivating change with a new formula for health and wellness that blends medicine with science to make a positive difference to people’s health outcomes and improve their quality of life. Our plan to be New Zealand’s leading medicinal cannabis and CBD company. Our reputation will be built on our innovation, excellence, quality, transparency and service and the products we bring to market will be credible, verified and affordable.

More information about Medical Kiwi is available at https://medicalkiwi.com/.

About Scitek

Scitek is a vacuum technology expert business with over 30 years of industry experience. Their expertise covers a wide range of vacuum facilitating technologies as used in the cannabis, pharmaceutical and food industries. This includes GMP ready solutions for botanical extraction, cleanup, concentration and isolation.

More info about Scitek is available on http://medicinalcannabisproduction.com.au/

 

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 high-quality, 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 forty royalty-bearing licenses to date in twenty countries world-wide. 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 CEO

For further information:

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

Dan Henriques, CPA, CA, CFO at +1 (604) 835-5212
E-mail: [email protected]

For Media Inquiries:

E-mail: [email protected]

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

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) accept responsibility for the adequacy or accuracy of this release.

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