EnWave Declares Significant Sales Wins for Royalty-Partner BranchOut Food

VANCOUVER, British Columbia, Feb. 29, 2024 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) today announced that BranchOut Food Inc. (NASDAQ:BOF) (“BranchOut”), a royalty partner of the Company, has broadened its existing relationship with the nation’s largest warehouse club following exceptional sales of its popular Pineapple Chips product in the California regions. The warehouse club retailer has now committed to two new orders valued at nearly US$900,000, scheduled for Q3 2024, placing the product again in the Northern California Region, plus seven additional states across the Southeast.

The warehouse club retailer’s Southeast region is one of its largest and includes Florida, Georgia, Alabama, South Carolina, North Carolina, and Tennessee. Several other regions are now reviewing BranchOut Food’s products and sales data as well. BranchOut expects to begin delivery of products in the third quarter of 2024.

BranchOut also recently expanded its relationship with the nation’s largest grocery retailer. BranchOut states that the new agreement is valued at an estimated US$7.6 million annually. BranchOut has renewed its contract with the grocery retailer for two products and entered into a new contract for two additional products. BranchOut received a 12-month contract extension for two dried fruit private label items that were first supplied in 2023.

These developments with both the largest warehouse club retailer and the largest grocery retailer in the United States are expected to bolster the royalties collected by EnWave from BranchOut, and the Company is optimistic regarding further positive growth in this commercial relationship.

About BranchOut Food Inc.
BranchOut Food is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by its licensed dehydration technology. The company’s GentleDry (REV) Technology is the next generation in dehydration technology, preserving up to 95% of the original nutrition of fresh fruits and vegetables. BranchOut’s technology is protected by more than 17 patents. BranchOut Food is proud to be a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com.