VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the "Company"), further to its May 6, 2008 press release, wishes to announce that it has changed some of the terms of the non-brokered private placement. The offer will be for up to 3,000,000 units at a price of $0.30 per unit. Each unit will now consist of one common share and one whole share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.45 per share for a period of two years from the time of issuance of the units. All of the other terms of the placement remain unchanged.
Using 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.
Dr. Tim Durance, Chairman & CO-CEO
Safe Harbour for Forward-Looking Information Statements: This 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 financial results are forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Tim Durance
Chairman and Co-CEO
Mr. John McNicol
President and Co-CEO
(604) 806-6112 (FAX)