Sixth Wave Updates on Affinity™ System Installation Schedule
Halifax, Nova Scotia – (July 19, 2022) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave”, “SIXW” or the “Company”) is pleased to report it’s rollout plan for the Affinity™ System (“System”) initial customers is well underway.
Sixth Wave delivered a Discovery Affinity™ System to Retro/Advanced Extraction Systems Inc. (“AESI”) and conducted functional training for the system. The companies expect to bring that system up to operational capability during the first week in August when Sixth Wave will be able to bring its portable analytical system to the facility. Retro uses a supercritical CO2 for extraction of cannabinoids to produce a variety of products with a focus on craft formulations and vape products. Consistent with previous announcments, Sixth Wave and AESI will be able to perform a variety of functions with this System in addition to processing for Retro. This Discovery System will be used to train AESI personnel on the Affinity™ System to prepare them for taking over the sales, installation, and support of the Affinity™ System as part of the exlusive Licensing arrangement. If schedules allow, AESI and Sixth Wave will begin inviting potential customers who have expressed interest in Affinity™ System to Retro/AESI as soon as the Discovery System is fully configured.
Sixth Wave will also visit to Quantum Lab in New Mexico, to meet with owner Nicholas Montoya who earlier this year signed an MOU for the delivery of an Affinity™ System (“System”). The primary focus of the visit planned August 15th is to review Quantum Lab work site progress and discuss installation plans, including delivery of a Discovery size Affinity™ System, to perform pre-production configuration testing on the Quantum extracts.
In addition, Sixth Wave continued onsite technical assessments and business development activities in Michigan the week of June 28th. Link: https://sixthwave.com/sixth-wave-confirms-delivery-of-affinity-system/ The projects took place at an award winning provider of recreational and medical cannabis products, with plans to become Michigan’s largest and leading provision center chain in the Great Lakes as a multi-state operation. The team were extremely excited about Affinity nano technology and the operational benefits this provides for enhanced extraction and purification of products. The technical assessment was particularly useful for the onsite extraction and production experts, who were briefed on the upcoming work/installation plan. Sixth Wave expects to return in the next few weeks to perform configuration testing with its Discovery size Affinity™ System and portable analytical equipment, these tests will confirm the performance attributes of the Affinity™ System with THC acid (not decarboxilized) forms, prior to delivery of the production System.
“We are pleased to be making so much progress especially with AESI as they are critical to augmenting our international resources currently rolling out our Affinity™ Systems. Early integration of the AESI engineers, sales, and support team is going smoothly while we simultaneously work to service the existing customers. Our discussions with both AESI and Retro confirm yet again that the purification capability and operating paramaters of the Affinity™ System will be valuable to the industry. Additional outreach ongoing by Sixth Wave in the past few weeks have added three new potential clients to the list in both South and North America. AESI will begin ramping up sales efforts with their existing client base and others in the coming weeks.” notes Dr. Jon Gluckman, President and CEO of Sixth Wave.
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.