EnWave Signs Commercial Royalty-Bearing License and Equipment Lease Agreement with a Swiss Medical CBD Company

EnWave Corporation signed a royalty-bearing commercial license agreement and equipment lease agreement with a Medical Cannabidiol (“CBD”) Company based in Switzerland (the “Royalty Partner”). The License grants the Royalty Partner a non-exclusive right to process medicinal-grade hemp for cannabidiol CBD extraction in Switzerland using the Company’s patented Radiant Energy Vacuum (“REV™”) technology. Under the terms of the Lease, the Royalty Partner has committed to lease a 10kW REV™ machine for an initial term of six months.