California Gov Signs Historic Bill to Legalize Hemp and CBD Edibles

Nearly four years after legalizing recreational cannabis, California has finally opened the path to make smokable hemp and CBD-infused foods and beverages legal. Governor Gavin Newson signed the bill earlier this month to legalize the sale of consumables derived from hemp, creating a regulatory framework for the manufacture and sale of hemp products like smokable hemp, and hemp-infused foods. This new bill is welcome for many companies in the hemp industry, which has remained unregulated since the federal legalization of hemp and CBD. While companies are still waiting for California lawmakers to establish a tax scheme for hemp and hemp derivatives, they are allowed to sell their products in other states. Meanwhile, companies like Sundial Growers Inc. (NASDAQ:SNDL), Tilray Inc. (NASDAQ:TLRY), Organigram Holdings, Inc. (TSX:OGI) (NASDAQ:OGI), and HEXO Corp (NASDAQ:HEXO) are ramping up their production, distribution and marketing efforts, and Sixth Wave Innovations Inc. (OTC:SIXWF) (CSE:SIXW) is positioned to help them tie their efforts towards better yields. 

The new legislation lays the groundwork for the manufacture of high-quality hemp products creating a significant opportunity for Sixth Wave Innovations Inc. (OTC:SIXWF) (CSE:SIXW), the company behind the Affinity™ system. Affinity™ is a cannabinoid purification system, which isolates specific cannabinoids from crude cannabis oil. 

The company recently announced the shipment of the Affinity™ system from the contract manufacturer, Advanced Extraction Systems Inc. (AESI). AESI completed the wet testing for the system before shipping it to Sixth Wave for the final configuration. Once configured, Sixth Wave will deliver the system to Green Envy Extracts. 

The system, once delivered, will be subject to a commissioning/optimization process. The Affinity system has a production capacity of 6kg of high purity distillate, every ten hours. Sixth Wave Innovations Inc.  also plans to deliver a larger system in December. The system will be capable of about 14kg/10 hours or more than 30kg/day. 

Launching this small system provides Sixth Wave with a fast track to ensuring that every major design component is operating as expected and improvements are incorporated into the delivery of larger production units. The smaller system will be used to service new clients and support the company’s quality improvement program. As an example, the company is ready to finalize the SOPs for processing high CBD hemp extracts and can already meet Canadian regulatory requirements for reduced THC levels. This includes promising data to indicate that THC compliant products for the USA are possible as well,” said John Cowan, COO of Sixth Wave

The collaboration between Sixth Wave and Green Envy is positioned to bring technical and commercial benefits for the two companies. The companies have plans to introduce the system in Michigan, Massachusetts, Oregon, and additional locations. 

For more information on Sixth Wave Innovations Inc. (OTC:SIXWF) (CSE:SIXW), click here

Companies Making Bold Moves in the Cannabis Sector

Sundial Growers Inc. (NASDAQ:SNDL) is looking to enhance its exposure in the cannabis industry with the acquisition of Alcanna Inc., which holds about 63% equity assets in the pure cannabis play, Nova Cannabis Inc. Through this acquisition, Sundial Growers will have strengthened its position as an industry partner with access to more than 170 of Nova’s locations in Canada. The acquisition will also give Alcanna shareholders exposure to the cannabis industry while supplementing Sundial’s Spiritleaf retail operations. 

Tilray Inc. (NASDAQ:TLRY) reported the tenth consecutive quarter of positive adjusted EBITDA. The leader in the global cannabis packaged lifestyle and consumer group saw a 43% increase in its net revenue for Q1 2022 to $169 million from $117 million in Q1 2021. The company also maintained in #1 market share in Canada with five of its brands ranking top five across adult-use products. During the quarter, Tilray acquired MedMen, a US cannabis retailer, and launched a new medical marijuana brand in Canada. 

Organigram Holdings, Inc. (TSX:OGI) (NASDAQ:OGI) launched an extension of its popular SHRED portfolio with the SHRED’ems bold-flavored cannabis-infused gummies. SHRED’ems is Organigram’s first product from The Edibles & Infusions Corporation, which Organigram acquired in April. The gummies have captured a leading market share since their launch in August. The company expects SHRED’ems to become a popular choice in the market. The vegan-friendly gummies come in Wild Berry Blaze, Sour Cherry Punch, and Sour Megamelon flavors.

HEXO Corp (NASDAQ:HEXO) and Molson Coors Beverage Company announced the expansion of its line of hemp-derived CBD beverage Veryvell. Following this expansion, Veryvell will be available in 17 states including Alaska, Arkansas, Colorado, Connecticut, Florida, Iowa, Kentucky, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Texas, Vermont, Virginia, and West Virginia. Veryvell’s hemp-derived CBD beverages and beverage drops will be available online and in select stores in Colorado. 

As the cannabis industry gains momentum thanks to increasing legalization and adoption, companies like Sixth Wave Innovations have a first-mover advantage in this growing market. 

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Sixth Wave Innovations Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Sixth Wave Innovations Inc.’s industry; (b) market opportunity; (c) Sixth Wave Innovations Inc.s business plans and strategies; (d) services that Sixth Wave Innovations Inc. intends to offer; (e) Sixth Wave Innovations Inc.’s milestone projections and targets; (f) Sixth Wave Innovations Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Sixth Wave Innovations Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Sixth Wave Innovations Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Sixth Wave Innovations Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Sixth Wave Innovations Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Sixth Wave Innovations Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Sixth Wave Innovations Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Sixth Wave Innovations Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Sixth Wave Innovations Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Sixth Wave Innovations Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Sixth Wave Innovations Inc.’s business operations (e) Sixth Wave Innovations Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Sixth Wave Innovations Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Sixth Wave Innovations Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Sixth Wave Innovations Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Sixth Wave Innovations Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Sixth Wave Innovations Inc. or such entities and are not necessarily indicative of future performance of Sixth Wave Innovations Inc. or such entities.