Dr. Tim Durance reports

ENWAVE CORPORATION ANNOUNCES $4 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT FINANCING

EnWave Corp. has entered into an agreement with Cormark Securities Inc. pursuant to which the underwriter has agreed to purchase, on a bought-deal private placement basis, five million units of the company at a purchase price of 80 cents per unit, for gross proceeds to the company of $4-million. Each unit shall consist of one common share and one-half of one common share purchase warrant. Each whole warrant shall be exercisable into one common share at a price of $1.20 for five years following closing of the offering.

The underwriter has also been granted an option, exercisable in whole or in part at any time prior to the closing date, to purchase up to an additional 1.25 million units at the issue price, which would result in additional gross proceeds of $1-million.

The offering is scheduled to close on or about Oct. 22, 2015, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities.

The net proceeds of the offering will be used for machine fabrications and for general corporate and working capital purposes.

We seek Safe Harbor.