EnWave could raise C$10 million through private placement of stock

Company raises funds for sales and marketing, research and development

By Devika Patel

Knoxville, Tenn., Nov. 19 - EnWave Corp. said it will raise between C$7.5 million and C$10 million in a private placement of stock. The deal will be conducted on a best-effort basis by lead agent Raymond James Ltd. along with a syndicate, which includes Raymond James Ltd. and CIBC.

Proceeds will be used for the production of Radiant Energy Vacuum machines, expanded sales and marketing efforts, research and development, working capital and general corporate purposes.

Based in Vancouver, B.C., EnWave is focused on the development of new methods of dehydrating food and biological materials using Radiant Energy Vacuum technology under its nutraREVR, powderREVR, bioREVR and freezeREVR brands.

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