**NEWS** VANCOUVER, Oct. 29 /CNW/ - EnWave Corporation (TSX.V: ENW) (the "Company"
or "Enwave") is pleased to announce that Enwave has satisfied or the
University of British Columbia ("UBC") has waived all of the conditions
contained in the License Agreement (the "Agreement") between UBC and Enwave.
The Agreement gives Enwave the rights to a microwave technology to fabricate
porous solid structures in biomaterials (the "Technology") and was previously
announced by press release dated May 7, 2004. UBC has now waived the
requirement that the Company budget $250,000 for scientific and technical
development of the Technology in a two-year collaborative research agreement
with UBC. Other conditions precedent have been satisfied by the Company and
the Agreement is now in full force.
The Company also wishes to announce that it has engaged Mr. Marc
Sandercombe as a consultant. Mr. Sandercombe brings over 25 years of
experience in the investment industry, particularly with listed venture
companies, and will assist the Company in planning, business, and strategic
development issues.
Mr. Sandercombe has been granted 200,000 incentive stock options
exercisable for a period of five years from this date at an exercise price of
$0.10 per share. The shares underlying the options will be subject to a hold
period of four months from today's date, as required by the TSX Venture
Exchange (the "Exchange") and in accordance with securities laws.
This grant is made pursuant to the Company's amended and restated 2003
Stock Option Plan, which authorized the Company to grant up to 3,462,328
options to purchase common shares of the Company. After the aforementioned
grant is approved, the Company will have 1,800,000 stock options outstanding.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information: Dr. Tim Durance, President, (604) 806-6110,
fax: (604) 806-6112.