- Sixth Wave (SIXW) and Advanced Extraction Systems (AESI) have activated their $3.5M Affinity licensing agreement
- The agreement was contingent on AESI becoming a public company, which it intends to close a definitive agreement for by August 31, 2022
- The license will allow the Affinity system to expand beyond cannabis in the extraction market
- Sixth Wave Innovations’ patented nanotechnologies extract and detect target substances at the molecular level
- Sixth Wave (SIXW) is unchanged trading at $0.065 per share
Sixth Wave (SIXW) and AESI have activated their $3.5M Affinity licensing agreement.
AESI is a global provider of extraction solutions in the cannabis, psilocybin and biomass industries.
The agreement was contingent on AESI becoming a public company. AESI has since entered into a non-binding agreement with Hakken Capital for a reverse takeover transaction expected to close by August 31, 2022.
Pursuant to the licensing agreement, Sixth Wave’s Affinity technology will gain access to:
- Related technology commercialization expertise
- An established global cannabis industry customer base
- World class engineering, design, construction and service expertise
- Product development leadership for new high-value extraction applications
“This represents another major step forward ensuring the long-term revenue generation strategy for Sixth Wave regarding the Affinity system,” stated Jon Gluckman, President and CEO of Sixth Wave. “Moreover, it allows Sixth Wave to take advantage of the expanding business base of AESI into non-cannabis extraction and purification markets that will require new molecularly imprinted polymers using the Affinity system architecture.”
“Becoming a public company will support our efforts to expand our offerings and address emerging markets worldwide,” added Peter Toombs, CEO of AESI. “We have very exciting growth opportunities which should result in substantial value accrual. We are confident in our growth projections and ability to bring Affinity to market as AESI has established itself as a well-respected and high-quality supplier in the cannabis industry since 2016.”
Sixth Wave Innovations’ patented nanotechnologies extract and detect target substances at the molecular level.
Sixth Wave (SIXW) is unchanged trading at $0.065 per share as of 9:30 am EST.