Vancouver, British Columbia - TheNewswire - December 03, 2020 - Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (OTC:BLRZF) (the “Corporation” or “Blackhawk”), is pleased to announce today that it has signed a Commercial License (the “License”) and an Equipment Purchase Agreement (the “Purchase Agreement”) with EnWave Corporation (TSXV:ENW) (“EnWave”)” a Vancouver-based advanced technology company, that has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. Since May 2020, NuWave has been evaluating EnWave’s patented Radiant Energy Vacuum (“REV™”) dehydration technology and successfully developed several shelf-stable baked products it intends to commercialize under the License.
NuWave has paid EnWave an initial non-refundable deposit to purchase both a 10kW and 60kW REV™ machine from EnWave. NuWave must remit a second milestone payment within ninety days (the “Milestone Payment”). If the Milestone Payment is remitted to EnWave before the agreed upon deadline, NuWave will retain the exclusive right to use REV™ technology in Canada and the United States to process shelf-stable donuts and fritters. Additionally, NuWave is required to purchase a second large-scale REV™ machine within eighteen months of the commissioning of the first large-scale machine to retain the exclusivity granted under the License.
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EnWave’s scalable and reliable vacuum-microwave technology can be used to significantly extend the shelf-life of baked goods, while maintaining textures and flavors that are comparable to freshly baked products.
This presents a major opportunity to reduce loss from expired goods by elongating shelf-life and improving profitability for consumer baked goods companies. Both NuWave and EnWave believe that REV™ technology will provide significant value to the baked goods industry as the process slows the retrogradation or recrystallization of starch molecules, which contributes to the staling process.
“An important milestone for NuWave has been reached” said Frederick Pels, CEO of Blackhawk Growth Corp. “We are thrilled to be working with EnWave. This technology and equipment could be a substantial revenue driving force for us. I look forward to updating our shareholders on our next steps in the coming days.”
About NuWave Foods
NuWave Foods is a 51% owned subsidiary of Blackhawk Growth Corp. (CSE:BLR). NuWave is a fully licensed commercial kitchen and baked goods manufacturer located in Edmonton, Alberta that is focused on the development and commercialization of shelf-stable baked products, without the use of any preservatives. NuWave was formed as a joint partnership between a group of like-minded professionals seeking to leverage their considerable contacts in North America’s food industry to rapidly become a leader in the rapidly changing space. NuWave seeks to leverage innovative food technologies to introduce new food products into the North American market.
About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, 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.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand.
EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:
1. nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,
2. quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
For further information please contact:
Frederick Pels, Chief Executive Officer
(403)-991-7737
fred@blackhawkgrowth.com
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to completion of the Transaction and the business activities of SAC Pharma. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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