EnWave Corporation's Board of Directors has approved a plan to license the company’s proprietary Radiant Energy Vacuum into the U.S. cannabis market through a wholly-owned American subsidiary.
"As a supplier of equipment that embodies years of research and development, patented innovation, know-how and, particularly, a recent process patent specifically for the drying and decontamination of cannabis, the U.S. market presents a significant opportunity to EnWave," the team with the company explains. "Over the past several months, the company, in association with its U.S. counsel, Canadian counsel and the TSX Venture Exchange, has conducted extensive legal and regulatory due diligence. This included assessments of cross-border issues and compliance with U.S. federal laws, which concluded that EnWave may proceed with its expansion strategy into the U.S. market in compliance with applicable U.S. federal laws."
"EnWave has also received assurances from the TSXV that its planned business expansion into the U.S. cannabis market will not affect continued listing of the company’s securities on the TSXV, subject to certain conditions that the company believes it can satisfy."
"EnWave’s proprietary dehydration technology provides a distinct value proposition to cannabis and hemp producers, including faster drying, higher precision and reduces cost. The company only plans to license its technology to companies that operate within legalized frameworks at State, Municipal and other non-federal regulatory levels."
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EnWave Corporation
enwave.net