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California Governor Signs Historic Bill to Legalize Smokable Hemp and CBD Edibles

FN Media Group Presents Market Commentary


New York, NY  – October 19, 2021 – Nearly four years after legalizing recreational marijuana, 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. (OTCQB: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. (OTCQB: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 a cannabis 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 cannabis 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.


Disclaimer: (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Sixth Wave Innovations




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