London, UK – March 24, 2022 – Sorbie Bornholm, (“Sorbie”) a UK Investment Fund, is pleased to announce an investment in Sixth Wave Innovations, Inc., (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave” or the “Company”) 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 gross amount of the investment is $2.568 million. Funds are to be used to progress IXOS®, corporate costs and general working capital.
Sixth Wave has entered into agreements to issue the following securities for an aggregate net consideration of $2.4 million:
- 12,200,000 units of the Company (each a “Unit”) Each Unit consists of one common share in the capital of the Company (a “Subscription Share”) and one common share purchase warrant (a “Warrant”).
- 1,104 Convertible Loan Notes (“Notes”) in the principal amount of $1,000 per Note, bearing an interest rate of 1% per annum. Each Note is convertible into 4,167 common shares for a period of 36 months from the date of issuance; and
- 4,600,368 Common share purchase warrants (the “Note Warrant”) issued on the same terms as the Warrants;
- (the Units, Notes, Note Warrants referred to collectively as the “Securities”).
Sorbie has subscribed for the Securities. In addition, the Company has entered into a Sharing Agreement with Sorbie, which allows the Company to retain much of the economic interest in the Sorbie Subscription Shares and Notes. The Sharing Agreement will allow the Company to secure the potential upside on a portion of the Sorbie Subscription Shares arising from news flow over the next 24 months. There is no upper limit placed on the additional proceeds receivable by the Company as part of the monthly settlements. In no case would a decline in the Company’s share price result in any increase in the number of ordinary shares to be issued to Sorbie or any other advantage accruing to Sorbie.
The structure of this placing is designed to provide the Company with flexibility in continuing to advance the Company’s Projects while maintaining a constant source of funds covering a portion of the Company’s short to medium term cash flow requirements. Settlement of the balance of the Placement will occur after the Record Date for the Share Purchase Plan.
The Company plans to use the proceeds of the Private Placement for general working capital, the deployment of its Affinity™ cannabis purification units, as well as continuing development of its AMIPs™ virus detection technology and its IXOS® technology.
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 their website: www.sixthwave.com
For information, please contact the Company:
Mark McDonald
Phone: (801) 582-0559
E-mail: info@sixthwave.com
About Sorbie Bornholm
Sorbie Bornholm is a global investment firm that provides funding for ongoing business objectives to listed micro, small and mid-cap growth companies. We focus on equity investments in companies that are already listed and looking to expand – and on management teams with a clear growth strategy. Our extensive experience allows us to invest in most industries – and to focus on providing supportive, longer term capital that rewards company growth.
Since 2007, Sorbie Bornholm LP founder Greg Kofford has perfected the “Sorbie-Strategy”, utilizing a sharing agreement that supports management and rewards growth. This unique approach has now been used in over 40 secondary offerings – with many of those resulting in the companies receiving more cash than the original offering proceeds – without having to issue any additional shares.
Sorbie Bornholm’s core values drive who we are and how we invest. We are committed to developing long-term relationships with select listed public companies and their brokers & advisers. We focus on providing supportive, longer term capital that rewards growth. We invest to make a difference, to become a valued partner and to be a shareholder of choice. It’s important to us that we succeed together.
To see if the Sorbie-Strategy is right for your company, please contact Sorbie Bornholm:
Whitney Kofford, Managing Director
Phone: (801) 554-5889
E-mail: contact@sorbiebornholm.com