EnWave to Report Third Quarter Fiscal 2020 Financial Results on August 27, 2020 and Provides NutraDried Update

VANCOUVER, British Columbia, Aug. 20, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company"), a global leader in vacuum-microwave dehydration technology, announced today it will report its financial results for the third quarter of fiscal year 2020 on Thursday, August 27, 2020 after market close. The financial statements and MD&A will be available on SEDAR at www.sedar.com and on the Company’s website in the late evening Vancouver time.

NutraDried National Club Channel Promotion

NutraDried has secured a one-month national promotion with its major club retail customer in the U.S. for the Moon Cheese 10oz “Cheddar Believe It” product, where the product will be sold in all eight U.S. regions of the club retailer under a “buy one, get one” promotion discount. The Company expects to deliver the majority of product for this promotion in the fourth fiscal quarter of 2020, and smaller quantities may ship in early October as well. The promotion will run in all divisions of the major club channel retailer for the month of October. This major distribution opportunity will sell the product at a discounted price in order to liquidate a significant portion of NutraDried’s inventory position and return it to a more appropriate level. The discounted revenues from the national promotion are expected to significantly improve the Company’s overall cash position. This national distribution opportunity will also create increased visibility for Moon Cheese with target consumers.

About EnWave
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 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.