EnWave Completes Warrant Exercise, Generating $2.2M in Cash

EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company")
today announced that all of the 1,944,444 warrants issued to shareholders under
the private placement announced on December 17, 2009 have been exercised into
common shares at a price of $1.15 per warrant. Due to expire on January 19,
2011, the warrants generated $2,236,110 in cash for the Company. The total
number of EnWave common shares issued and outstanding now stands at 61,900,822.
The private placement was led by Canaccord Financial Ltd., acting as sole lead
agent and bookrunner, with syndication participation by Clarus Securities Inc.


"EnWave continues to assemble the resources we need to execute our business
strategy," stated John McNicol, President and Co-CEO of EnWave. "A healthy
balance sheet is fundamental to achieving our goal of developing Radiant Energy
Vacuum dehydration technology for broad acceptance in the global market."


About EnWave

Using proprietary technologies developed in conjunction with the University of
British Columbia, EnWave is commercializing a new method for dehydrating food
and biological materials using Radiant Energy Vacuum ("REV") technology under
its nutraREV(TM), powderREV(TM), quantaREV(TM), bioREV(TM) and freezeREV(TM)
brands. REV technology combines microwave energy transfer under vacuum to
dehydrate and alter structures and drive chemical reactions, thereby creating
unique product characteristics for both food products and medical applications
that include fruit, vegetables, probiotics, enzymes, proteins, food cultures,
vaccines and antibodies. More information about EnWave is available at
www.enwave.net. 


EnWave Corporation

John McNicol, President & Co-CEO

Safe Harbour for Forward-Looking Information Statements: This press release may
contain forward-looking information based on management's expectations,
estimates and projections. All statements that address expectations or
projections about the future, including statements about the Company's strategy
for growth, product development, market position, expected expenditures and
financial results are forward-looking statements. These statements are not a
guarantee of future performance and involve a number of risks, uncertainties and
assumptions. There is no guarantee that the Company's REV technology can or will
improve processes in the target industry; even if the Company's REV technology
can be used as described in this document, there is no guarantee that such use
will result in orders for the Company's REV technology. All figures comparing
REV technologies to freeze drying or other dehydration technologies are provided
as examples of data obtained through the Company's own scientific and testing
programs; each product must be tested individually to determine the benefits of
using REV.

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