EnWave will install a 10kW REV? machine at a site of Stly being used commercially by more than a dozen dairy companies internationally.
Equity Incentive Grant to Officer
As part of the business transformation plan recently announced at NutraDried, Mr. Dan Henriques, EnWave?s Chief Financial Officer, has been appointed as Chief Operating Officer of NutraDried to oversee the streamlining of operations. In recognition of this appointment, the Company has granted Mr. Henriques an aggregate of 142,000 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 February 26, 2021. The incentive stock options are exercisable for a term of five years expiring on February 26, 2026 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. Henriques an aggregate of 25,000 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.
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S"From Farm to Table" Business Model manages and audits the entire process from the grass that the cows eat to the dairy products that reach the tables. As a result of this model, SQatar, Libya, Iraq, Kuwait and Egypt.
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 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 forty royalty-bearing licenses to date spanning twenty countries and five continents. 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
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:
EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machinery.
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.
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