EnWave Announces Renewal of Normal Course Issuer Bid
06 Décembre 2023 - 2:30AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that the TSX Venture Exchange
(“TSXV”) has provided conditional acceptance of the Company’s
normal course issuer bid, subject to the Company meeting all of the
requirements of the TSXV.
Under the terms of the normal course issuer bid,
EnWave may acquire up to 10,799,564 common shares, representing 10%
of the public float of EnWave as of December 5, 2023. The Company
is conducting the NCIB in order to maintain flexibility to purchase
the common shares, if, among other things, the Company determines
that it is an appropriate use of corporate funds based on the
market price of the common shares from time to time.
As of December 5, 2023, the Company had
110,695,055 common shares outstanding. Under the TSXV policies,
EnWave is entitled to purchase up to 2,213,901 shares in any 30-day
period up to the maximum of 10,799,564.
The purchases may commence on December 7, 2023
and will end on December 6, 2024 or on such earlier date as EnWave
may complete its purchases pursuant to the notice of intention to
make a normal course issuer bid filed with the TSXV. The actual
number of common shares which will be purchased and the timing of
any such purchases will be determined by the Company. All shares
purchased by the Company will be on the open market through the
facilities of TSXV by Cormark Securities Inc. acting on behalf of
EnWave in accordance with the policies of the TSXV and will be
surrendered by the Company to its transfer agent for cancellation.
The prices that EnWave will pay for any of the common shares
purchased will be the market price of the shares at the time of
acquisition.
EnWave did not purchase or cancel any common
shares under the previous normal course issuer bid that commenced
on November 22, 2022 and expired on November 23, 2023.
About EnWave EnWave is a global
leader in the innovation and application of vacuum microwave
dehydration. From its headquarters in Delta, 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 fifty royalty-generating partners
spanning twenty-six 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.
EnWave’s strategy is to sign royalty-bearing
commercial licenses with food producers who want to dry better,
faster and more economical than freeze drying, rack drying and air
drying, and enjoy the following benefits of producing exciting new
products, reaching optimal moisture levels up to seven times
faster, and improve product taste, texture, color and nutritional
value.
Learn more at EnWave.net.
EnWave Corporation
Mr. Brent Charleton, CFAPresident and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778)
378-9616E-mail: bcharleton@enwave.net
Dylan Murray, CFO at +1 (778) 870-0729E-mail:
dmurray@enwave.net
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.
EnWave (TSXV:ENW)
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