Sixth Wave Innovations Inc. announce the execution of a Memorandum of Understanding (the "MOU") with Quantum Labs of New Mexico, LLC ("Quantum") for the purchase and operation of the AffinityTM cannabinoid extraction and purification system (the "Affinity System"). The non-binding MOU contemplates the purchase and delivery of the unit pursuant to the terms of a Total System Performance License (TSPL). The term of the TSPL is three years, with automatic renewals for additional three-year terms, absent notification by either party to the contrary sixty days prior to the expiration of the then-current term. Initial equipment set-up fees and ongoing license fees will be specified in the finalized Agreement. The Affinity System is a cannabinoid separation and isolation platform which utilizes Sixth Wave's patent pending nanotechnology. Sixth Wave has developed this technology using Molecularly Imprinted Polymers ("MIPs"). The MIPs manufacturing process imprints a "template" for a specific target molecule onto a polymer substrate during the manufacturing process. A suspension polymerization process
produces porous beads of a specified size with a very high surface area allowing the ability to collect a high volume of the target molecules. The targeted selectivity of the beads promises to increase the recovery of cannabinoids lost in traditional processing circuits involving chromatography. Sixth Wave's scientific team has 20+ years of combined experience in the development and commercialization of products incorporating MIP technology. In addition to the Affinity system, MIPs ca
be used to target other elements for extraction or detection, including both organic and inorganic elements or compounds.