EnWave Signs License Agreement Amendment with BranchOut Food Inc., Granting New Product Exclusivity, Incremental Increased Minimum Royalty Requirement

VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") announced today that it has signed an amendment (the “Amendment”) to the royalty-bearing license agreement (the “License Agreement”) entered into with BranchOut Foods Inc. (“BranchOut”) of Peru. The Amendment grants BranchOut the exclusive right to produce dried blueberry products using EnWave’s Radiant Energy Vacuum (“REV™”) dehydration technology in Peru. Pursuant to the Amendment, BranchOut will pay a minimum of US$50,000 in annual royalties relating to the sales of blueberry products beginning in 2025. BranchOut is also contracted to pay additional minimum exclusivity royalties to EnWave in 2025 for the other existing rights granted in the License Agreement.