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Halifax, Nova Scotia – (June 22, 2022) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave”, “SIXW” or the “Company”) is pleased to announce that it has shipped its Discovery Affinity™ System (the “System”) to Canada for installation at Retro Cannabis and Hemp Extracts (“Retro”) as per the Letter of Intent announced on May 19, 2022. The System is expected to be delivered to Sixth Wave’s Halifax, Nova Scotia facility and taken by Sixth Wave to Retro the week of June 27 for installation and testing. In addition, Sixth Wave has shipped Affinity™ polymer to Advanced Extraction Systems Inc. (“AESI”) to begin packing full scale production columns and begin the next phase of fluid dynamics testing and equipment configuration.
According to Dr. Jon Gluckman, President and CEO of Sixth Wave; “This shipment is a significant milestone for the Affinity™ System as we begin transitioning activities to our licensing partner AESI. The Discovery System will facilitate cannabis separation and purification demonstrations as well as limited production capability. This installation will allow hands on interaction at a scale that is manageable outside of a full-scale production facility. In addition, the Affinity™ beads used to populate the production column will allow testing and fine tuning of the fluid dynamics and monitoring instrumentation prior to deployment in the field. No major issues are expected.”
Peter Toombs, CEO of AESI and Retro notes; “We are truly excited to be receiving this equipment and get more directly involved with the Affinity™ System. Our design and manufacturing team will benefit greatly from obtaining a working knowledge of how the technology performs and allow us to be much more proactive with improvements to the existing designs that will ensure success in the industry. This will also give our sales and marketing team the needed training to successfully represent the Affinity™ System in the marketplace.”
The Company further reports that it has granted a total of 300,000 options to the independent directors and 600,000 options to advisory board members of the Company as per advisory board agreements previously announced. The options are exercisable at $0.15 per share and will expire on June 10, 2027. One third of the options will vest after six months, with an additional third vesting every six months thereafter until fully vested.
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 roll out of its Affinity™ cannabinoid purification system, as well as IXOS®, a line of extraction polymers for the gold mining industry. The Company is also 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 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 web site 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 possible statements regarding the planned use of proceeds and 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.