VANCOUVER, British Columbia, Feb. 12, 2020 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today the appointment of Mr. Patrick Turpin to the Company’s Board of Directors. Patrick was a co-founder of Popchips, Inc (“Popchips”) and is a seasoned veteran of the consumer packaged goods industry. His addition will broaden and strengthen the skillset of the EnWave team to include a wealth of experience and leadership in the better-for-you segment of the snacking vertical.
Patrick Turpin is an accomplished senior executive who has successfully concepted and launched several revenue-generating retail channel businesses and brands. He has close to 30 years of experience leading consumer packaged goods organizations across multiple areas of the value chain. In addition to co-founding Popchips, he was also a senior executive at Costco Wholesale where he led multiple strategic initiatives, including launching Costco’s gas station business and Costco’s Executive Membership division. Patrick also managed Costco’s vertically integrated, private label snack and confection packaging business.With the addition of Patrick Turpin, EnWave’s Board now consists of five independent directors and two non-independent directors. The two non-independent directors are John Budreski, Executive Chairman, and Brent Charleton, Chief Executive Officer. EnWave welcomes Patrick to the Board and the experience he brings is anticipated to add tremendous value to the Company’s strategic initiatives, including the rapid expansion of its better-for-you Moon Cheese® snack brand.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 patent-pending 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. EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.More information about EnWave is available at www.enwave.net.EnWave CorporationMr. Brent Charleton, CFA
President and CEOFor further information:Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net Dan Henriques, CFO at +1 (604) 835-5212
E-mail: dhenriques@enwave.net Deborah Honig, Corporate Development at + 1 (647) 203-8793
E-mail: dhonig@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.
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