Business
EnWave Corporation Closes Private Placement
June 2 2008 - EnWave Corporation (TSX-V: ENW) ("EnWave", or the "Company"), wishes to announce th...
About this update from Enwave Corporation
[{"type":"text","content":"EnWave Corporation Closes Private Placement\n\n\nJune 2 2008 - EnWave Corporation (TSX-V: ENW) (\"EnWave\", or the \"Company\"), wishes to announce the closing of the non-brokered private placement originally announced on May 06, 2008. The placement has raised $1,065,150 by issuing 3,550,501 units at a price of $0.30 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one common share of the Company at a price of $0.45 per share until May 30, 2010.\n\nIn connection with the private placement the Company will pay finder's fees in cash for $44,030, and will issue 33,740 units with identical terms as those of the private placement. Additionally, the Company will issue 180,507 agent's warrants; each agent's warrant will entitle its holder to purchase one common share of the Company at a price of $0.30 per share until May 30, 2009.\n\nThe securities issued pursuant to the private placement and finder's fees, including any shares issued on exercise of the warrants, will be subject to a four month hold period expiring on October 1st, 2008.\n\nThe proceeds of the private placement will be used towards Research and Development of the Company's Radiant Energy Technologies, and for general working capital.\n\nAbout EnWave\n\nUsing proprietary technologies developed in conjunction with the University of British Columbia, EnWave is focused on the development of new methods of dehydrating biological and food materials using Radiant Energy Vacuum technology under its bioREV, nutraREV and powderREV brands. REV technology combines microwave energy transfer with pressure control to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include dry vaccines and antibodies. More information about EnWave is available at www.enwave.net.\n\nEnWave Corporation\n\nJohn McNicol\n\nPresident & Co-CEO\n\nFor further information: Dr. Tim Durance, Chairman and Co-CEO, or Mr. John McNicol, President and Co-CEO at (604) 601 8524, fax (604) 806-6112.\n\nInvestor Relations: Jennifer Thompson at (604) 604-6549.\n\nSafe Harbour for Forward-Looking Information Statements: This release may contain forward-looking information based on management's expectations, estimates and pro...