Tilray, EnWave sign commerical sublicense with The Green Organic Dutchman
EnWave Corporation reports that EnWave and Tilray have signed a royalty-bearing commercial sublicense with The Green Organic Dutchman Holdings, a major Canadian producer of medical and adult-use cannabis, and a global leader in cultivating premium, certified organic cannabis. The Agreement grants TGOD the right to use the company's proprietary Radiant Energy Vacuum dehydration technology to dry organic cannabis in Canada. EnWave and Tilray entered into an exclusive partnership in October 2017 in which EnWave named Tilray as its licensed partner under the terms of an exclusive, sub-licensable, royalty bearing commercial license. The License grants Tilray an exclusive right to use and sub-license the Company's proprietary REV dehydration technology in Canada for efficient production of cannabis products. 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. 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 in Canada.