EnWave Corporation Secures $3 Million Through Recent Offering
EnWave Corporation's Recent Private Offering Success
EnWave Corporation (TSX-V: ENW | FSE: E4U), based in Vancouver, British Columbia, has successfully completed its fully subscribed private placement offering, raising a remarkable $3 million. This achievement marks a significant milestone for the company, as it demonstrates strong investor confidence in its innovative dehydration technology.
Details of the Offering
How the Offering Was Structured
EnWave successfully issued 7,500,000 common shares priced at C$0.40 each. The prominent financial firm Clarus Securities Inc. led the offering, acting as the lead agent for a significant portion of the shares sold. A total of 6,125,000 shares were part of the brokered component, while the remaining 1,375,000 shares were sold through a non-brokered segment.
Financial Impact of the Offering
The funds raised from this private placement are earmarked for the construction of two large-scale Radiant Energy Vacuum (REV™) dehydration machines. With a production timeline of approximately six months, these machines will enhance the efficiency and capability of EnWave’s operations, enabling them to meet the growing demand for their products.
Strategic Developments and Future Plans
Understanding the Importance of REV™ Machines
The investment in new REV™ machines is pivotal for EnWave. This innovative technology, which outperforms traditional drying methods, has already garnered interest from numerous industries including food, pharmaceuticals, and cannabis. As EnWave continues to expand its reach, the future demand for these machines is expected to soar.
Long-term Commitment to Quality
EnWave is not just focused on expansion; they are also dedicated to enhancing the quality of their offerings. By streamlining production capabilities, the company can provide consistent and high-quality products that satisfy the needs of various partners around the globe.
EnWave's Market Position and Partnerships
Global Influence and Licensing
EnWave’s strategy revolves around establishing royalty-bearing commercial licenses with food producers. With more than fifty partners worldwide, spanning twenty-four countries, the company is positioned as a leader in upgrading drying technologies. This widespread adoption of their innovative methods is indicative of the trust and reliability placed in their technology.
Harnessing Future Opportunities
EnWave remains committed to providing its partners with advanced drying technologies that enable them to achieve optimal moisture levels much faster than traditional methods. The benefits include improved taste, texture, color, and nutritional value of the final products, making them highly competitive in the market.
About EnWave Corporation
Founded on the principles of innovation and efficiency, EnWave has transformed the drying industry. Its REV™ technology has been meticulously developed, ensuring it stands out in an increasingly competitive landscape. The company’s robust intellectual property portfolio further cements its position as a leader in vacuum microwave dehydration.
Leadership and Contact Information
At the helm of EnWave Corporation is Mr. Brent Charleton, CFA, President and CEO. For inquiries, interested parties can contact Mr. Charleton at +1 (778) 378-9616 or via email. The CFO, Mr. Dylan Murray, CPA, CA, is also reachable at +1 (778) 870-0729 for further information.
Frequently Asked Questions
What is the purpose of the $3 million raised by EnWave?
The funds will be used to build two large-scale Radiant Energy Vacuum (REV™) dehydration machines to enhance production capabilities.
Who led the private placement offering for EnWave?
Clarus Securities Inc. acted as the lead agent for the brokered part of the offering.
How many shares were issued in the offering?
A total of 7,500,000 common shares were issued at a price of C$0.40 each.
What industries does EnWave serve?
EnWave serves various industries including food, pharmaceuticals, and cannabis by offering innovative dehydration technologies.
How long does it take to produce REV™ machines?
The manufacturing and fabrication process for large-scale REV™ machines takes approximately six months to complete.
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