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EnWave Signs Technology Evaluation and License Option Agreement With Swiss Cannabis Selection AG

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EnWave (ENW.V) entered into a Technology Evaluation and License Option agreement with Swiss Cannabis Selection AG (SCS), a Switzerland based medical cannabis company focused on the cultivation, development and production of cannabis and cannabis products for medical purposes, it said on Monday.

SCS is collaborating with Switzerland based-Schibano Pharma AG on the evaluation of EnWave's proprietary Radiant Energy Vacuum (REV) dehydration technology. SCS will have the option to enter into a commercial license agreement granting certain rights to deploy REV technology within agreed-upon markets and applications, upon successful completion of the evaluation program.

The evaluation will focus on assessing REV technology's ability to process cannabinoid and botanical materials "efficiently while preserving critical quality attributes and meeting the operational and regulatory requirements of SCS and Schibano," it said. Evaluation activities are expected to start in the coming months, it added.

Shares of the company were last seen down 4.3% at $0.225 on the TSX Venture Exchange.

Price: $0.23, Change: $-0.01, Percent Change: -4.26%

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