Sixth Wave Innovations (SIXW.C) fired up its fund raising engines on Friday, looking to trade units for CAD$6 million, according to a press release.
The company is planning to put the funds towards their cannabis extraction technology, developing their COVID-19 detection technology and for general working capital.
The company is in the process of rolling out their Affinity cannabinoid purification system and IXOS line of extraction polymers for the gold mining industry.
Sixth Wave is a nanotechnology company with technology patents focusing on extraction and detection of substances at the molecular level. They use something called AMIPS, which stands for accelerated molecularly imprinted polymers.
Molecularly imprinted polymers (MIPS) are artificial polymers designed to capture and extract materials through cloning. The intent behind the tech is to replace existing extraction methods in both the cannabis production and gold mining sectors, thereby delivering process improvements, improving cost, and producing higher yields.
Equity guru’s own Lukas Kane covered this in detail earlier this month.
Ultimately, the goal will be to have an AMIP capable of being deployed in a wide range of applications, including;
- Smart-clothing
- PPE applications
- Airborne sensors
- Breathalyzers
- ELISA-based technologies
- Cartridge/lateral flow designs
Each unit will go at a subscription price of $0.30 and will include one share and a purchase warrant, giving the right to buy one more share at $0.50 for two years.
Shares dipped by $0.045 today and are trading at $0.415.
—Joseph Morton
Full disclosure: Sixth Wave Innovations is an equity guru marketing client.
