VANCOUVER, British Columbia, Oct. 09, 2024 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) ('EnWave”, or the 'Company') announced today that it has granted employees and officers of the organization, company-wide, an aggregate of 3,110,000 incentive stock options (the 'Options”). The grant of Options is subject to the terms of the Company's Stock Option Plan (the 'Plan”), exercisable at a price of $0.23. The Options are exercisable for a term of five years and will vest in one-third increments over eighteen months in accordance with the provisions set out in the Plan, or as otherwise required by the TSX Venture Index ('TSXV”). The grant of the options is subject to approval by the TSXV.

Additionally, 65,000 RSR's were awarded to the independent directors of the Company. The RSRs granted will vest three years from the date of the award. Equity incentive awards form part of the Company's annual independent director compensation program.