EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) is ramping up production of its Moon Cheese line of snacks.
The company announced Monday that its subsidiary NutraDried Food Company LLC plans to install a third large-scale 120 kiloWatt Radiant Energy Vacuum, to bolster its production capacity.
Moon Cheese, a dehydrated cheese rock snack, is sold at more than 25,000 distribution points in North America, including Starbucks, Costco, Whole Foods, Publix, Target, and Wegmans. Recently, the brand added HEB, ShopRite, Sprouts, and Raley’s to that mix.
The snack is in the midst of a brand redesign, the company said, including the launch of new flavors Garlickin’ Parmesan and Cheddar Bacon Me Crazy, new sizes and different packaging.
The company approved an up to C$8 million capital investment budget to construct the new REV machine, which dehydrates the cheese, and to outfit its manufacturing facility to allow for commercial growth.
Shares of EnWave rocketed 13% higher to C$1.93 on tthe CSE and almost 14% to US$1.46 on OTC Markets on Monday.
—Updated to include closing price—
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