Mr. Brent Charleton reports

ENWAVE SIGNS EQUIPMENT PURCHASE AGREEMENT AND LICENSE AMENDMENT WITH SPROUTED PROTEINS SAC

EnWave Corp. has signed an equipment purchase agreement and a licence amendment with Sprouted Proteins SAC of Peru. Sprouted Proteins signed a royalty-bearing licence agreement with EnWave on Feb. 26, 2024.

The amendment grants Sprouted Protein with the exclusive right to produce certain starch-based snack products and instant soup mixes in Peru, and sets annual minimum exclusivity royalty payment amounts payable to EnWave.

Further, Sprouted Proteins has purchased a 10-kilowatt Rev machine and is leasing a second 10-kilowatt Rev machine to ramp up commercial production. Pursuant to the amendment, Sprouted Proteins must purchase a large-scale Rev machine prior to Sept. 30, 2025, to keep its exclusive licence rights.

About EnWave Corp.

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, B.C., EnWave has developed a robust intellectual property portfolio, perfected its radiant energy vacuum technology, and transformed an innovative idea into a proven, consistent and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperform traditional drying methods in efficiency, capacity, product quality and cost.

With more than 50 royalty-generating partners spanning 23 countries and five continents, EnWave's licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner, and getting to market faster with the company's patented technology, licensed machinery and expert guidance.

EnWave's strategy is to sign royalty-bearing commercial licences with food producers which want to dry better, faster and more economically than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, colour and nutritional value.

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