Sixth Wave Announces Closing of Private Placement

Biotech & MedTech


December 23, 2021 (Source) — Sixth Wave Innovations Inc. (CSE: SIXW) (OTC: SIXWF) (FSE: AHUH) (“Sixth Wave” or the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Financing“) of units (the “Units“). Pursuant to the Financing, the Company issued 5,160,000 Units at a price of $0.20 per Unit for gross proceeds totalling $1,032,000.

Each Unit consists of one common share (a “Common Share“) and one Common Share purchase warrant (a “Warrant“), with each Warrant entitling the holder to purchase one additional Common Share at an exercise price of $0.35 for a period of 24 months after the date hereof.

In connection with the Financing, the Company paid finders fees in the aggregate amount of $40,390 and issued a total of 201,950 finder’s warrants (the “Finder’s Warrants“) to certain arm’s-length finders. Each Finder’s Warrant entitles the holder to purchase one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months after the date hereof.

The issuance of the Units pursuant to the Financing was completed on a private placement and prospectus exempt basis, such that the issuance of the underlying Common Shares and Warrants are exempt from any applicable prospectus and securities registration requirements.

Pursuant to applicable Canadian securities laws, all of the securities issued pursuant to the Financing are subject to a hold period of four months and one day, expiring on April 24, 2022. Additional hold periods and/or trading or resale restrictions may also apply in the United States.

Pursuant to the Financing, a certain director of the Company subscribed for 50,000 Units for gross proceeds to the Company of $10,000, which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Full details of this transaction will be available on the System for Electronic Disclosure by Insiders (SEDI) at: The Financing is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the Financing, nor the consideration paid, exceed 25% of the Company’s market capitalization. No additional insiders or related parties of the Company participated in the Financing. No new insiders or control persons were created in connection with the closing of the Financing.

The closing of the Financing, as well as the issuance of the Units pursuant thereto, are subject to the final acceptance of the Canadian Securities Exchange (the “CSE“).

The Company plans to use the proceeds of the Private Placement for general working capital, the deployment of its AffinityTM cannabis purification units, as well as continuing development of its AMIPs virus detection technology. The Company, solely at its discretion, may elect to close a further tranche of this financing.

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 rollout of 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 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 the 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:


Jon Gluckman
Jonathan Gluckman, Ph.D., President & CEO

Cautionary Notes

This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned use of net proceeds of the Financing and the Company’s ability to complete any subsequent tranches of the Financing. 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 AMIPs technology are subject to the risk that the AMIPs technology may not prove to be successful in detecting virus targets effectively or at all, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical 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 the patent is not granted. The Company has not yet completed development of a prototype for the product that is the subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

SOURCE Sixth Wave Innovations Inc.

For further information: For information, please contact the Company: Phone: (801) 582-0559, E-mail: [email protected]