Sixth Wave Provides Corporate Update
Halifax, Nova Scotia – (April 26, 2022) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave” or the “Company”) is pleased to provide an update on the progress of its corporate initiatives.
Sixth Wave Innovations Inc continues to make substantive progress toward streamlining operations and monetizing the R&D achievements of the last eighteen months. Recent geopolitical events, multi-billion-dollar investments in North America that are focused on critical metal independence has created a surge in interest for our IXOS® product lines. As a result, the Company is moving toward a stronger focus on its mining roots. Over the last few months, the Company has been engaged by a variety of mining companies for green field and brown field precious metal projects, seen exceptional results in pilot testing indicating superior precious metal recovery, reduced costs, reduced metal losses, and reduced energy consumption translating into significant reductions in carbon emissions associated with gold and silver recovery. This success IS translating into a stream of small revenue generating contracts as mining companies move to test IXOS® in our laboratories as well as with on-site pilots. While we expect the overall adoption cycle for these projects to continue to be relatively slow and driven by each mine’s development and installation timelines, we are confident that the current successes will translate into adoption. Focusing our efforts in this area will provide opportunities and capital to accelerate this process.
Significant funding is also now becoming available through various sources to address critical metals associated with electrification and growth of battery critical infrastructure. Metal recovery and mining is now focused on metals including lithium, nickel, cobalt, rare earth elements, and platinum group metals as they provide critical raw materials in growing demand. Sixth Wave’s recent patent award and previous work with some of the aforementioned metals points to similar potential that has proven successful in gold and silver mining. To that end, the Company has been engaged by Champlain Mineral Ventures to develop a “green” mining process for lithium from its Brazil Lake deposit. The Company has also submitted proposals to government entities and commercial mining companies to exploit its intellectual property for these critical metals with non-dilutive grants and contracts.
The Company is also engaged in dedicated efforts to monetize the outstanding success in developing ground-breaking technology for the detection of viral and bacterial pathogens (AMIPS), and purification of cannabinoids. These markets have divergent pathways and financial demands to final commercialization and sales. To ensure that shareholder value for the existing investments in these technologies is actualized, the Company will move to license these technologies to organizations in a position to accelerate completion, regulatory approval as needed, and commence sales. Ideally, the license agreements being pursued will provide a combination of equity, up-front licensing fee, product development and production contracts (direct revenue to SIXW), and ongoing royalties. This approach should provide significant non-dilutive income to Sixth Wave and position the products in these verticals within organizations that provide step-increases in ability to meet market demands that would otherwise require funding either by slower organic growth or further capital raises. While viable, those pathways have additional inherent risk which make them less desirable. As the Company continues to work with existing entities that have expressed interest, advancements in the AMIPS and Affinity technologies continues toward delivery with its existing customers.
“Sixth Wave has faced headwinds in its attempt to gain traction as a technology platform company. This is the case despite success in applying its core intellectual property across several domains. As a result, we will focus on a limited set of applications for direct exploitation and sales. The growing instability in global markets especially related to supply and manufacturing of critical metals is leading to extraordinary long-term investments in everything from exploration to battery manufacturing within North America negating the need to ship raw ore and derivatives around the world for processing. We view this shift with its long-term investment opportunity as a significant opening for Sixth Wave to draw on the demonstrated benefits of IXOS® to expand into other critical metal mining and purification venues. Licensing of the ancillary IP and obtaining non-dilutive development and royalty income will allow additional allocation of resources for these developing mining opportunities” notes Dr. Jonathan Gluckman President & CEO of Sixth Wave. “The Company believes strongly that its core competency as a nanotechnology solution provider will continue to generate new and exciting opportunities. While core products will remain focused in the mining and environmental cleanup vertical, a licensing/hub-and-spoke approach with ongoing royalty streams provides a more streamlined pathway to diversification and preservation/growth of shareholder value” continued Dr. Gluckman.
Thank you for your continued support.
Dr. Jonathan Gluckman
Sixth Wave Innovations Inc.
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of a commercial rollout of its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPs™) label.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for the detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our website at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: [email protected]
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the performance of the IXOS®, Affinity™, and AMIPs™ technologies. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the IXOS®, Affinity™, or AMIPs™ technologies are subject to risk that they may not prove to be successful, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for certain applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if patents are not granted. The Company has not yet applied for regulatory approval for the use of this product from any regulatory agency.