11:26 AM EST, 11/10/2025 (MT Newswires) -- EnWave ( NWVCF ) on Monday said it signed a royalty-bearing, commercial license agreement with a U.S. snack company.

EnWave ( NWVCF ) said it has been collaborating with the licensee for several months, "helping to perfect the drying process" for the licensee's proprietary formulas.

It said that as a result of these joint efforts, the licensee purchased a 10kW Radiant Energy Vacuum (REV) dehydration machine for initial commercial production. The machinery will be installed at a large third-party manufacturing partner of the licensee's in Mexico before the end of 2025.

A statement noted that the licensee plans to launch its REV-dried products in Mexico in the first calendar quarter of 2026, with expansion planned into the U.S. market in 2027.

The company stated that, under the commercial license terms, the licensee has secured the global rights to produce their proprietary fruit and vegetable-based snack products, so long as contracted annual minimum royalty requirements are met.

"Further the Licensee, has the non-exclusive right to produce several fruit and vegetable snack products to be marketed under their own brand," added the company.

The company's shares were last seen down $0.01 to $0.37 on the TSX Venture Exchange.

Price: 0.37, Change: -0.01, Percent Change: -2.63