Mr. Brent Charleton reports
ENWAVE ANNOUNCES GRANT OF STOCK OPTIONS AND RSRS
EnWave Corp. has granted employees and officers of the company an aggregate of 1.41 million incentive stock options under its amended and restated share option plan. All employees received part of the options. The options are exercisable at a price of 36 cents per share for a term of five years, and will vest in one-third increments over 18 months in accordance with the provisions of the plan.
Additionally, 135,000 restricted share rights were awarded to the independent directors of the company. The RSRs were granted pursuant to the company's restricted share plan and will vest three years from the date of the award. Equity incentive awards form part of the company's annual independent director compensation program.
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 outperforms traditional drying methods in efficiency, capacity, product quality and cost.
With more than 50 partners spanning 24 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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