Habe gerade folgende Mitteilung per mail erhalten EnWave Enters into Term Sheet for Purchase of Patents from The University of British Columbia and Buyout of Royalty Obligations under Existing License Agreements Vancouver, B.C., March 16, 2011 EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave” or the “Company") today announced that it has signed a Term Sheet (the “Term Sheet”) to acquire the patents and know-how that it currently licenses from The University of British Columbia (“UBC”) for Radiant Energy Vacuum (“REV”) dehydration technology (the “Technology”). According to the Term Sheet, EnWave and UBC have agreed to enter into a definitive agreement (the “Agreement”) to formalize the transactions contemplated by the Term Sheet by April 15, 2011. Under the Term Sheet provisions, EnWave would pay UBC CDN$5,500,000 in cash and common shares of EnWave, subject to adjustment based upon share price fluctuations occurring prior to the period ending 30 days after the end of the standard four-month hold period for UBC's shares. The adjustment provisions are intended to preserve the value that UBC would receive under the Agreement and allow EnWave to limit the number of shares issued to a maximum of 1,500,000 million common shares. “This agreement will strengthen EnWave’s global market leadership in vacuum microwave technology as we offer our customers unique technology alternatives to replace conventional drying methods,” said John McNicol, President and Co-CEO of EnWave. “It also caps EnWave’s payments to UBC for the Technology.” How does this affect EnWave? Under the terms of the original exclusive licensing agreement, EnWave would pay 20% of any royalties received from the sale of food or biomaterials processed using REV technologies covered under the seven UBC-held patents, along with 3% of revenues obtained from machine sales. With this buyout, the Company would have a total of 14 patents granted or pending which cover the equipment and method of use for its five REV platforms over a wide variety of applications including food, biomaterials and biopharmaceuticals.
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