Sixth Wave Innovations Signs Memorandum of Understanding for Exclusive Affinity™ License
Halifax, Nova Scotia – (June 2, 2022) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave” or the “Company“) is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with Advanced Extractions Systems Inc. (“AESI”) for an exclusive worldwide license to Affinity™ cannabis extraction technology from the Company (the “Transaction”). The Company has worked closely with AESI on the design and manufacture of its Affinity™ hardware. Affinity™ provides a vertical integration opportunity for AESI and allows AESI a complete offering for the In addition, AESI has a strong track record in the cannabis industry and has successfully expanded into other botanical and nutraceutical markets.These new markets will also require extraction and purification services and will effectively open additional markets for Sixth Wave’s patent-pending Affinity™ technology and molecularly imprinted polymer (MIP) solutions. ale conducted by the two companies to assess the value and soundness of the Transaction. As a global structure, Sixth Wave will work with AESI to facilitate the transition to a publicly traded company.
Dr. Jonathan Gluckman, President and CEO of Sixth Wave notes, “AESI represents a significant increase in Sixth Wave’s ability to introduce and support faster market penetration of Affinity™ systems. AESI has a full engineering design and manufacturing team, customer support, sales, marketing, installation and service base that would otherwise all have to be developed within Sixth Wave. Licensing the technology Affinity™ allows Sixth Wave to focus on core technology development to expand and diversify offerings with a direct path to monetize these developments within a mature business. production and sales infrastructure. We are confident that this relationship will result in a faster and more successful launch of Affinity™ and provide a lucrative license and royalty stream.
Peter Toombs, CEO of AESI, adds: “AESI has a strong track record of providing extraction solutions to the cannabis and hemp industries and has begun to see new contracts and successes in the extraction of other plants and nutraceuticals. Adding Affinity™ technology to our offerings provides unique competitive advantages to AESI in cannabis and other markets as it will allow us to impact more of the equipment used in processing as well as technological advantages in extraction and purification In addition, the ongoing development relationship that will be part of the transaction will enable both companies to effectively address emerging markets such as psychedelics and other high value molecules .The Molecularly Imprinted Polymer (MIP) technology that is at the heart of Sixth Wave will be able to be brought to market much faster thanks to the systems engineering, sales and support infrastructure within AESI. “.
The terms and conditions of the Memorandum of Understanding include:
Exclusive worldwide license to Affinity™ technology for the purification of cannabis, herbal and psychedelics.
Licensing options for Affinity™ applications for other herbs and nutraceuticals.
Initial license fee to include cash and equity in AESI.
AESI would agree to pay an annual percentage royalty to Sixth Wave on a monthly basis for any rental it sells of each AffinityTM unit.
Detailed terms related to the transaction are being negotiated by the parties with the expectation that a definitive licensing agreement will be concluded within sixty days. The operation is subject to the successful listing of AESI on the stock exchange. AESI’s public listing is dependent on the successful negotiation of a term sheet with interested parties, comprehensive due diligence and regulatory approval.
Thank you for your continued support.
Dr Jonathan Gluckman
President and CEO
Sixth Wave Innovations Inc.
About Advanced Extraction Systems Inc.
Advanced Extraction Systems, Inc. (AESI) provides complete extraction solutions to the cannabis, psilocybin and biomass industries worldwide. AESI has designed and manufactured total extraction solutions for many of the largest companies in these industries over the past decade, ranging from small laboratory scale to large industrial installations. The solutions have been designed to meet a variety of region/application specific quality regulations (CRN, ASME, PED, CE, CSA, CSAus, cGMP, euGMP, Pharma) and cover everything from consulting to equipment in going through training. AESI builds its high-quality hardware and associated software from its headquarters in Prince Edward Island, Canada, supported by a team of engineers who have extensive experience in real-world operation extraction equipment.
About the sixth wave
Sixth Wave is a nanotechnology company with patented technologies that focus on the extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The Company is in the process of commercially launching 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 phase of a rapid virus diagnostic test under the Accelerated MIPs (AMIPs™) label.
Sixth Wave can design, develop and market MIP solutions across a wide range of industries. The Company is focused on highly relevant nanotechnology architectures for the detection and separation of viruses, biogenic amines and other pathogens, for which the Company has products in 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 and CEO
For any information, please contact the Company:
Phone: (801) 582-0559
Email: [email protected]
This press release includes certain statements that may be considered “forward-looking statements”, including statements regarding the performance of IXOS®, Affinity™ and AMIPs™ technologies. All statements in this release, other than statements of historical facts, that relate to future events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual events or developments may differ materially from those contained in the forward-looking statements. These 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 these forward-looking statements. In particular, the successful development and commercialization of IXOS®, Affinity™ or AMIPs™ technologies are subject to the risk that they will not be successful, the uncertainty of medical product development, the uncertainty of timing or the availability required regulatory approvals, lack of product development history for certain applications and the need for additional capital to complete product development activities. The value of any product eventually developed could be adversely affected if patents are not granted. The Company has not yet sought regulatory approval for the use of this product from any regulatory agency.