- Sixth Wave Innovations (SIXW) has signed a memorandum of understanding (MOU) with Advanced Extractions Systems (AESI) for an exclusive worldwide royalty bearing licence
- The licence relates to the company’s Affinity cannabis extraction technology
- AESI would agree to pay an annual percentage royalty to Sixth Wave on a monthly basis for any leases it sells of each Affinity unit
- AESI provides extraction solutions in the cannabis, psilocybin, and biomass industries
- Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level
- Sixth Wave Innovations Inc. (SIXW) opened trading at $0.075
Sixth Wave Innovations (SIXW) has signed a memorandum of understanding (MOU) with Advanced Extractions Systems (AESI).
The MOU is for an exclusive worldwide royalty-bearing license for the company’s Affinity cannabis extraction technology.
The general terms of the MOU include options to license Affinity applications for additional botanicals and nutraceuticals and an upfront license fee to have cash and equity in AESI.
Furthermore, AESI would agree to pay an annual percentage royalty to Sixth Wave on a monthly basis for any leases it sells of each Affinity unit.
In addition, AESI has a pedigree in the cannabis industry and has successfully expanded into other botanical and nutraceutical markets.
Sixth Wave has been working closely with AESI on the design and manufacture of its Affinity hardware. Affinity provides a vertical integration opportunity for AESI and allows AESI a comprehensive offering for extraction to purification.
These new markets will also require extraction and purification services and will effectively open additional markets for the Affinity technology and Sixth Wave’s patent pending molecularly imprinted polymer (MIP) solutions.
This MOU is the result of initial due diligence conducted by both companies to assess the value and strength of the transaction. As part of the overall structure, Sixth Wave will work with AESI to help transition to a publicly traded company.
“AESI has a complete engineering design and manufacturing team, customer support, sales, marketing, installation and service base that would otherwise all have to be grown inside Sixth Wave,” said Jonathan Gluckman, President, and CEO of Sixth Wave.
“Adding the Affinity technology to our offerings provides unique competitive advantages to AESI in cannabis and other markets as it will allow us to impact a greater portion of the equipment used in processing along with technological advantages in both extraction and purification,” noted Peter Toombs, CEO of AESI.
Advanced Extraction Systems (AESI) provides extraction solutions in the cannabis, psilocybin, and biomass industries across the globe.
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).
Sixth Wave Innovations Inc. (SIXW) opened trading at $0.075.
