TORONTO, Jan. 3, 2019 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX : TGOD) (US : TGODF) is pleased to announce it has signed a royalty-bearing commercial sublicense (the "Agreement") with EnWave Corporation (TSX-V:ENW | FSE:E4U) ("EnWave") and Tilray, Inc. (NASDAQ:TLRY) ("Tilray").
EnWave has developed Radiant Energy Vacuum ("REV™") – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
EnWave and Tilray entered into an exclusive partnership in October 2017 in which EnWave named Tilray as its licensed partner (the "License"). The License grants Tilray an exclusive right to use and sub-license EnWave's proprietary REV™ dehydration technology in Canada. Under the terms of the License, EnWave and Tilray will share royalties from TGOD's use of EnWave's REV™ technology on an undisclosed basis.
The Agreement grants TGOD the right to use EnWave's proprietary Radiant Energy Vacuum ("REV™") dehydration technology to dry organic cannabis in its Canadian operations. Pursuant to the Agreement, TGOD has signed an equipment purchase agreement and submitted a purchase order to EnWave for a large-scale 60kW commercial REV™ machine to initiate commercial production.
"We are incredibly excited to utilize this proprietary and advanced dehydration technology, which will promote consistency in the manufacturing of our premium organic products, improve space efficiency by reducing the need for drying rooms and quicken TGOD's time from harvest to sale," stated Brian Athaide, TGOD's Chief Executive Officer.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 170,000 kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.
For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum ("REV™") – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology's commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave's strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
- nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
- powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
- quantaREV® which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Forward-Looking Information Cautionary Statement
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward looking statements in this release includes, but is not limited to, statements about the future legalization of cannabis-infused products in Canada, statements about future research, development and innovation by the Company, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. No statement in this press release should be construed as a waiver of any party's rights, and all such rights are reserved.
SOURCE The Green Organic Dutchman Holdings Ltd.