Dr. Tim Durance reports

ENWAVE ANNOUNCES SIZING OF PUBLIC OFFERING AND CONCURRENT PRIVATE PLACEMENT

In connection with EnWave Corp.'s previously announced overnight marketed offering, a syndicate of underwriters led by Cormark Securities Inc., and including CIBC World Markets Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., PI Financial Corp. and Raymond James Ltd., has agreed to sell up to eight million units of the company at a price of $1.05 per unit for aggregate gross proceeds of up to $8.4-million. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price equal to $1.50 for a period of 60 months following the closing of the offering.

EnWave will shortly file an amended and restated preliminary short form prospectus with the securities commissions in all of the provinces of Canada, other than Quebec, to reflect the terms of the offering.

EnWave has granted to the underwriters an overallotment option to purchase up to an additional 760,000 of units distributed in the offering, at the issue price, exercisable in whole or in part at any time up to 30 days following the closing of the offering for additional gross proceeds of $798,000.

In addition, the company intends to complete a concurrent non-brokered private placement of up to 770,000 units at the issue price for aggregate gross proceeds of up to $808,500. The units issuable pursuant to the concurrent private placement will be on the same terms as those issuable pursuant to the offering, except that they will be subject to a statutory four-month hold period in accordance with applicable securities laws.

The offering and concurrent private placement are expected to close on or about Nov. 15, 2017, and are subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The company has applied to the TSX-V to list the common shares and warrant shares issuable pursuant to the offering (including in respect of the overallotment option) and the concurrent private placement. Such listing will be subject to EnWave fulfilling all of the listing requirements of the TSX-V.

The net proceeds of the offering and concurrent private placement will be used in the manner as set forth in the amended and restated preliminary short form prospectus.

The offering is being conducted in all provinces in Canada, except Quebec, and in the United States on a private-placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and such other jurisdictions as may be agreed upon by the company and the underwriters.

About EnWave Corp.

EnWave, a Vancouver-based advanced technology company, has developed radiant energy vacuum (REV) -- an innovative, proprietary method for the precise dehydration of organic materials. EnWave's strategy is to sign royalty-bearing commercial licences with industry leaders in multiple verticals for the use of REV technology. The company has signed 22 royalty-bearing licences to date, opening up eight distinct market sectors for commercialization of new and innovative products. In addition to these licences, EnWave has formed a limited liability partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese brand.

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