10:18 AM EDT, 08/21/2025 (MT Newswires) -- EnWave ( NWVCF ) was at last look up 3.5% early Thursday after closing its fully subscribed private placement offering of common shares for $3 million.

A statement noted the offering involved the issuance of 7.5-million shares at $0.40 apiece.

The brokered component of the Offering comprised of 6,125,000 shares. The company also completed a non-brokered component in respect of near 1.4-million shares.

EnWave ( NWVCF ) said net proceeds will be used to build two large-scale (60kW-120kW) Radiant Energy Vacuum dehydration machines. It noted the manufacturing and fabrication process to produce large-scale REV equipment takes about six months to complete. "This investment is designed to ensure faster order fulfillment and support prospective future REV machine demand as EnWave's ( NWVCF ) pipeline continues to expand."

Shares of the company were last seen up 3.5% at $0.435 on the TSX Venture Exchange.

Price: 0.44, Change: +0.02, Percent Change: +3.57