EnWave Closes Private Placement With Director
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/14 -- EnWave
Corporation (TSX VENTURE: ENW)(FRANKFURT: E4U) ("EnWave", or the
"Company") is pleased to announce that, further to its news release
on June 23rd, 2014, it has closed a non-brokered private placement
with Mr. John P.A. Budreski, raising CAD$150,000 through the issuance
of 111,111 common shares at a price of $1.35 per common share. The
common shares have a four-month hold period expiring on October 24,
2014. The proceeds are to be used for working capital and general
EnWave Corporation is a Vancouver-based industrial technology company
developing commercial applications for its proprietary Radiant Energy
Vacuum (REV(TM)) dehydration technology. EnWave aims to sign
royalty-bearing commercial licenses with leading food and
pharmaceutical companies for the use of its revolutionary technology.
Thus far the Company has signed ten royalty-bearing licenses, opening
up eight distinct market sectors for commercialization with companies
that include Bonduelle, a global leader in the production of
vegetables; Hormel Foods Corporation, a major processed meat
manufacturer in the United States of America; and Sutro Biopharma, a
company developing a protein synthesis process for the pharmaceutical
industry. In addition to these licenses, EnWave has formed a Limited
Liability Partnership, NutraDried LLP, to develop, manufacture,
market and sell all-natural cheese snack products in the United
States under the Moon Cheese(R) brand. The Company has also signed a
license and manufacturing agreement with NutraDried Creations to
market the dried cheese and other REV(TM) snack products through
private label distribution channels in the United States and Latin
EnWave has signed a wide range of research agreements with an
expanding list of companies that include Nestle, Kellogg's, Ocean
Spray Cranberries, Sun-Maid Growers, R.J. Reynolds and Merck among
others. EnWave is introducing REV(TM) as a new dehydration standard
in the food and biological material sectors: potentially faster and
cheaper than freeze drying, with better end product quality than air
drying or spray drying.
EnWave currently has six REV(TM) platforms: commercial-scale
nutraREV(R) and MIVAP(R) are used in the food industry to dry food
products quickly and at low-cost, while maintaining high levels of
nutrition, taste, texture and colour. The Company has also
commercialized powderREV(R) for bulk dehydration of food cultures,
probiotics and fine biochemicals such as enzymes below the freezing
point; quantaREV(TM) for continuous, high-volume low-temperature
drying; and bioREV(TM) and freezeREV(TM) as new methods to stabilize
and dehydrate biopharmaceuticals such as vaccines and antibodies.
More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, President, CEO & Director
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, and expected expenditures, are forward-looking statements.
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.
Mr. John Budreski
Mr. Brent Charleton
Vice President, Corporate Affairs
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