EnWave Appoints Ms. Louise Lalonde to its Board of Directors, Announces Retirement of Director, Ms. Mary Ritchie
December 16 2024 - 8:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that Ms. Louise Lalonde has
been appointed to EnWave’s Board of Directors, and will assume the
role of Audit Committee Chair. Ms. Lalonde is a Certified Public
Accountant with more than 30 years of experience in accounting,
governance, risk consultancy and compliance. Ms. Lalonde was a
partner at Price Waterhouse Coopers and has executive experience in
the manufacturing and service sectors.
Ms. Lalonde’s appointment coincides with the
retirement of Ms. Mary Ritchie, EnWave’s current Audit Committee
Chair. EnWave is grateful for the governance and
strategic guidance provided by Ms. Ritchie throughout her 10 years
of service. EnWave would like to thank Ms. Ritchie for her past
contributions and ongoing support of EnWave.
EnWave’s Board of Directors currently sits at five members
including Ms. Louise Lalonde (Audit Committee Chair), Mr. Patrick
Turpin, Mr. Pablo Cussatti, Mr. Brent Charleton (EnWave’s President
and CEO) and Mr. John P.A. Budreski (Executive Chairman).
Upon her appointment to the Board of Directors,
the Company has granted Ms. Lalonde an aggregate of 150,000
incentive stock options (the “Options”). The grant of Options is
subject to the terms of the Company’s Stock Option Plan (the
“Plan”), exercisable at a price equal to $0.19, the closing price
of the Company’s common shares on December 13, 2024. The Options
are exercisable for a term of five years and will vest in one-third
increments over eighteen months in accordance with the provisions
set out in the Plan, or as otherwise required by the TSX Venture
Index (“TSXV”). The grant of the options is subject to approval by
the TSXV. The Company also granted Mr. Lalonde an aggregate of
25,000 Restricted Share Rights (“RSRs”) pursuant to the Company’s
Restricted Share Rights Plan. The RSRs granted will vest three
years from the date of the award.
About EnWave EnWave is a global
leader in the innovation and application of vacuum microwave
dehydration. From its headquarters in Delta, BC, EnWave has
developed a robust intellectual property portfolio, perfected its
Radiant Energy Vacuum (REV™) technology, and transformed an
innovative idea into a proven, consistent, and scalable drying
solution for the food, pharmaceutical and cannabis industries that
vastly outperforms traditional drying methods in efficiency,
capacity, product quality, and cost.
With more than fifty royalty-generating partners
spanning twenty-three countries and five continents, EnWave’s
licensed partners are creating profitable, never-before-seen snacks
and ingredients, improving the quality and consistency of their
existing offerings, running leaner and getting to market faster
with the company’s patented technology, licensed machinery, and
expert guidance.
EnWave’s strategy is to sign royalty-bearing
commercial licenses with food producers who want to dry better,
faster and more economical than freeze drying, rack drying and air
drying, and enjoy the following benefits of producing exciting new
products, reaching optimal moisture levels up to seven times
faster, and improve product taste, texture, color and nutritional
value.
Learn more at EnWave.net.
EnWave Corporation
Mr. Brent Charleton, CFAPresident and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778)
378-9616E-mail: bcharleton@enwave.net
Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729E-mail:
dmurray@enwave.net
Safe Harbour for Forward-Looking Information
Statements: This press release may contain forward-looking
information based on management's expectations, estimates and
projections. All statements that address expectations or
projections about the future, including statements about the
Company's strategy for growth, product development, market
position, expected expenditures, and the expected synergies
following the closing are forward-looking statements. All
third-party claims referred to in this release are not guaranteed
to be accurate. All third-party references to market information in
this release are not guaranteed to be accurate as the Company did
not conduct the original primary research. These statements are not
a guarantee of future performance and involve a number of risks,
uncertainties and assumptions. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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