- EnWave (ENW) has received conditional acceptance of the company’s planned normal course issuer bid from the TSXV
- EnWave is entitled to purchase up to 2,204,101 shares in any 30 day period up to a maximum of 10,778,194 shares
- The purchases may commence on October 29, 2021 and will end on October 28, 2022
- Under its current NCIB, EnWave has purchased and cancelled a total of 1,779,700 common shares
- EnWave Corporation is a Vancouver-based advanced technology company
- EnWave Corporation (ENW) opened trading at C$1.09 per share
EnWave (ENW) has received conditional acceptance of the company’s planned normal course issuer bid from the TSXV.
Under the terms of the normal course issuer bid, EnWave may acquire up to 10,778,194 common shares, representing 10 per cent of the public float of EnWave as of October 14, 2021.
In the opinion of EnWave’s board, its common shares have been trading at prices that do not reflect the underlying value of the company, including its royalty portfolio, its strong financial position and growth opportunities. EnWave believes that purchasing and returning its common shares to treasury represents an opportunity to enhance value for its ongoing shareholders.
As of October 14, 2021, the company had 110,205,055 common shares outstanding. Under TSXV policies, EnWave is entitled to purchase up to 2,204,101 shares in any 30 day period up to a maximum of 10,778,194 shares.
The purchases may commence on October 29, 2021, and will end on October 28, 2022. The actual number of common shares which will be purchased and the timing of any such purchases will be determined by the company. All shares purchased will be cancelled. EnWave will pay the market price for all common shares purchased.
Under the current normal course issuer bid expiring on October 21, 2021, EnWave has purchased and cancelled a total of 1,779,700 common shares at a weighted average price of $1.04 per common share.
EnWave Corporation is a Vancouver-based advanced technology company. EnWave has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
EnWave Corporation (ENW) opened trading at C$1.09 per share.