EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) has signed an exclusive, royalty-bearing commercial licensing agreement for its dehydration technology with cannabis power player Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB).
Aurora will hold an exclusive master license to use EnWave’s Radiant Energy Vacuum (REV) technology for the drying of cannabis in Australia. As part of the deal, the companies will work together to pursue sub-licensing opportunities.
One sub-licensee, who signed a deal concurrently with the Aurora agreement, is Cann Group Limited (ASX:CAN), the first company in Australia to earn a medical cannabis cultivation license.
READ: Moon Cheese moonshot: Enwave to install additional dehydrating technology to boost the snack's production
The royalty-bearing deal grants Cann Group the right to use EnWave’s technology and will see the company purchase a 10 kilowatt REV machine.
As part of the agreement with Aurora, if minimum commercialization requirements are met, Aurora will receive an undisclosed share of the royalties derived from cannabis products died with REV by the sub-licensees.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel
