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From: ayeyou	8/17/2018 10:31:27 AM
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EnWave to discontinue equipment development project 2018-08-17 07:20 MT - News Release Dr. Tim Durance reports ENWAVE CORPORATION DISCONTINUES EQUIPMENT DEVELOPMENT PROJECT EnWave Corp. will discontinue its exploratory equipment development project with Sutro Biopharma Inc. EnWave has been working under an equipment construction contract to deploy the company's radiant energy vacuum technology to dehydrate a specific cell-free extract since September, 2012. EnWave was unable to satisfy certain quantitative bioactivity criteria for the dried cell-free extract; however, the throughput and process time metrics were achieved using REV technology. Due to project time metrics and additional investment required to pursue a solution, both companies decided to put any further development on hold for the foreseeable future. Sutro will independently continue development work to identify a suitable drying process for its cell-free extract. As a result of this project ending, EnWave will record an impairment to its "due from customers on contract" balance in the amount of $865,000. The impairment charge will be reported in the company's third quarter financial statements for the three and nine months ended June 30, 2018. About EnWave Corp. EnWave, a Vancouver-based advanced technology company, has developed radiant energy vacuum, 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 radiant energy vacuum technology, shortening the time from harvest to marketable cannabis products. We seek Safe Harbor. © 2018 Canjex Publishing Ltd. All rights reserved.

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