Sixth Wave Innovations Inc. announced signing a Memorandum of Understanding with Advanced Extractions Systems Inc. for an exclusive worldwide royalty bearing license to the Company's AffinityTM cannabis extraction technology. The Company has been working closely with AESI on the design and manufacture of its AffinityTM hardware. AffinityTM provides a vertical integration opportunity for AESI and allows AESI a comprehensive offering for extraction to purification.

Moreover, AESI has a solid track record in the cannabis industry and has successfully expanded into other botanical and nutraceutical markets. These new markets will also require extraction and purification services and will effectively open additional markets for the AffinityTM technology and Sixth Wave's patent pending molecularly imprinted polymer (MIP) solutions. This MOU is the result of initial due diligence conducted by both companies to assess the value and strength of the Transaction.

As part of the overall structure, Sixth Wave will work with AESI to help transition to a publicly traded company. General Terms of the MOU include: Exclusive worldwide royalty bearing license to the AffinityTM technology for cannabis, botanical, and psychedelics purification. Options to license AffinityTM applications for additional botanicals and nutraceuticals.

Upfront license fee to include cash and equity in AESI. AESI would agree to pay an annual percentage royalty to Sixth Wave on a monthly basis for any leases it sells of each AffinityTM unit.