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Sixth Wave Innovations Inc. Receives Grant from Province of Nova Scotia for Its Innovative Lithium from Spodumene Process
9:09 am ET February 6, 2023 (Newsfile)
Halifax, Nova Scotia--(Newsfile Corp. - February 6, 2023) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH)("Sixth Wave", "SIXW" or the "Company"), is pleased to announce that its application to the Mineral Resources Development Fund (MRDF), Natural Resources and Renewables, Province of Nova Scotia, to support the Company's Spodumene Beneficiation and Lithium Extraction from Spodumene Concentrate development has been awarded. The MRDF supports innovative projects in the mining sector that help attract investment and grow Nova Scotia's economy, particularly with a focus on critical minerals. The $50,000.00 (grant number is MRDF-2022-IN-08) will be used to continue the refinement and extension of the work being performed in support of the recovery of lithium from spodumene found at the Champlain Mineral Ventures Ltd. ("CMVL") Brazil Lake property. Under the terms of the Grant, Sixth Wave will be reimbursed for allowed expenses up to CAD$50,000 with all work expected to be completed by the end of March 2023.
"We are very pleased to have received this Grant and to extend the work we are doing with Champlain Mineral Ventures. The Brazil Lake project continues its exploration and progress to becoming an operating mine with a potentially substantial economic impact on the Province as described by Mr. John F. Wightman, M.Sc., P.Eng., President, and CEO of Champlain Mineral Ventures Ltd. The support offered by the MRDF helps to mature a flow sheet that will add significant value to this project but has the potential to revolutionize hard rock lithium mining worldwide. The Grant funds will be used to continue to optimize the emerging process flow and explore the advancement of Sixth Wave's green lixiviant and energy reducing methodologies," notes Dr. Jonathan Gluckman, President, and CEO of Sixth Wave.
The focus of the work to date and which will continue under the Grant is to develop a greener process for conversion of spodumene to leachable beta spodumene and simplify the process flow sheet to achieve battery grade lithium carbonate. Fewer process steps, reduced or eliminated use of toxic chemicals, and lower energy usage reduce the cost and environmental impact of processing spodumene lithium deposits. These advancements are in keeping with Sixth Wave's goals of providing industry leading mining solutions that both increase the profitability of a mine and reduce the environmental and societal impact of mining. The advancements in its lithium program adds to the Company's already developed solutions for gold mining which have demonstrated reduced OPEX and CAPEX while increasing gold yield while also reducing reagent and energy use.
About 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 commercializing its IXOS® - AuC polymer for the gold mining industry is focused on expanding the offerings as noted here in lithium. The Company's patent portfolio covers extensions of the designs for extraction and purification of other critical metals including nickel, cobalt, rare earth elements, and platinum group metals.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company has successfully developed nanotechnology architectures that are highly relevant for the detection and separation of viruses, bacteria, biogenic amines, and other pathogens. The Company is finishing commercialization of its Affinity™ system for purification of cannabinoids. The Company is actively looking for licensing opportunities to monetize these assets as it focuses on the mining and critical metals industry.
For more information about Sixth Wave, please visit: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jon Gluckman"
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: info@sixthwave.com
Cautionary Notes
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the planned features of the MIPs technology. 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 MIPs technology are subject to the risk that the MIPs technology may not prove to be successful in commercial application. The Company has not yet completed the development of a prototype for the product that is subject of this disclosure and is just at the beginning of the patent process for suite of new lithium disclosures. The Company has not begun detailed plant design work to implement the designed flow sheet and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
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For Cannabis Producers, the Affinity™ unit is designed to capture and extract Cannabinoids to ensure the purest end product. The system replaces antiquated processes including winterization, distillation and chromatography. The highly scalable Baseline unit is designed to produce approximately 20 kg of cannabinoid distillate or full spectrum distillate per day.
Each unit is capable of generating gross revenues to Sixth Wave of up to $100K/month.
Sixth Wave’s patent-pending solution provides several advantages for detecting, containing, and, ultimately, ending viral pandemics, such as SARS-CoV-2. Unlike other Polymerase Chain Reaction (PCR) and Immunoassay diagnostic tests, the AMIPs system directly detects viral particles rather than antibodies or antigens that can take days or weeks to be detectable within a patient. Impressively, AMIPs can also identify specific components such as viral DNA, RNA, proteins, small molecules, and even antibodies, making it one of the most versatile testing solutions to date.
Because the technology is based on a cartridge design, Sixth Wave believes the development of AMIPs detection for new viral threats could take less than 30 days from the onset, as well as, allow screening for multiple classes of viruses. the spread of future outbreaks could be contained much earlier with Sixth Wave’s solution.
Finally, the platform is infinitely scalable and adaptable. The AMIPs technology allows Sixth Wave to configure the test to screen for multiple infections at once. By detecting classes of viruses, researchers can deploy new diagnostics without cultivating antigens or collecting antibodies in the case of novel viruses, like coronavirus.
Sixth Wave’s premier product is IXOS®, a line of extraction polymers formulated for deployment in the gold mining industry for the extraction of gold from cyanide leach solutions. IXOS® is designed to be more selective, more efficient, have higher capacity, and offer environmental benefits compared to current processing methods. Sixth Wave has completed extensive testing (in North and South America) in laboratory and field trials with some of the world’s largest gold mining companies, with confirmatory testing completed by independent mine sites, independent laboratories, and two major chemical corporations. Sixth Wave is now undertaking pilot plant testing of IXOS® technology at a major gold producer, Kinross.
| Market Cap | 23,066,522 | 01/12/2021 |
| Authorized Shares | Unlimited | 12/31/2020 |
| Outstanding Shares | 93,386,727 | 12/31/2020 |
| Float | 75,385,730 | 01/11/2021 |
