Canada: EnWave expands agreement with Tilray providing for cannabis drying in Portugal

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EnWave Corporation (TSX-V:ENW) (FSE:E4U) (“EnWave”, or the "Company") reports today that it has expanded its exclusive, sub-licensable, royalty bearing commercial license with Tilray (the “License”) to include an exclusive option for the use of EnWave’s Radiant Energy Vacuum (“REVTM”) technology for the processing of medical cannabis products in Portugal (the “Option”).

In order to exercise the Option, Tilray must submit a purchase order for large-scale REVTMmachinery in the first half of calendar year 2018, and pay the deposit required thereunder, to be installed in Portugal for commercial processing of cannabis products. All other terms of the Option are confidential.

In June 2016, Tilray became the first company to legally export medical cannabis products from North America to the European Union (the “EU”). In 2017, Tilray received a cultivation license from the Government of Portugal to produce products for the EU market.

Tilray products are currently available at pharmacies in several EU countries.

The grant of the Option marks the initial expansion of EnWave’s patented REVTM dehydration technology for the dehydration of medical cannabis into international markets outside of Canada. 

EnWave’s strategy is to deploy its REVTM technology across multiple market verticals and geographies, including legalized cannabis markets, through its proven royalty-licensing business model.

About Tilray®
Tilray is a global pioneer in the research, cultivation, processing and distribution of medical cannabis and cannabinoids. Tilray was the first federally licensed cannabis company to be EU GMP certified to produce medical cannabis.

The company currently serves tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in eight countries spanning four continents through its affiliated entities in Australia and New Zealand (Tilray Australia New Zealand Pty Ltd), Canada (Tilray Canada Ltd), Germany (Tilray Deutschland GmbH), and Portugal (Tilray Portugal Unipessoal Lda).  

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. 

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