KELOWNA, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) — Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions to address today’s medical issues, has employed a multi-vertical focus to establish a comprehensive approach for sufferers of post-traumatic stress disorder and cognitive trauma.
Allied Corp. is making important strides forward to position itself as a leader in the medical cannabis space.This update is organized into six categories: Production, Pharmaceutical, Natural Health, Allied Charitable Foundation, Financing and Strategy.ProductionAs a licensed producer (LP) of cannabis for medical and research applications, Allied is leveraging the ideal conditions in our Colombia grow operation and our future Kelowna location to support our Research and Development efforts. To date, Allied has registered a seed bank in excess of 3,000 indigenous seeds, including 22 different landrace varieties and 167 hybrids from around the world.Under the Colombian regulations, Allied has plants growing under national licensure and the plant varieties are well into their growth life cycle. Allied has developed more than 80 Good Manufacturing Practice (GMP) and Good Production Practices (GPP) cultivation, production, sanitation and extraction Standard Operating Protocols (SOPs) to produce cannabis and hemp oil for future export and development.Pharmaceutical On September 23, 2019, Allied announced the filing of its first United States Provisional Patent Application for Cannabinoid and Terpenoid Pharmaceutical Compositions and Methods for Treating Post-Traumatic Stress Disorder (PTSD).This marks the first of a series of proposed filings, along with recent trademark filings, as part of the Company’s Intellectual Property and Pharma Development (IP&PD) Strategy. This Pharma Development Strategy includes developing products that serve those suffering from mental health issues, with a specific focus on symptoms related to PTSD.Natural Health Allied recently announced the signing of a non-binding letter of intent between Hollister Biosciences Inc. (“Hollister”) and Allied Corp. affiliate Tactical Relief, LLC (“Tactical Relief”) with respect to the joint development and introduction of TACTICAL RELIEF™ branded products. Tactical Relief, LLC is an affiliate U.S. entity that licenses from Allied Corp. the Intellectual Property associated to the marketing and sale of Tactical Relief™ branded products. In addition to the licensing, Allied receives a licensing fee in exchange for the IP and funding of certain marketing activities. These products are intended to be initially distributed to the California market which is anticipated to commence April 1, 2020. All products in the line are expected to provide veterans and first responders with natural alternatives that are intended to ease symptoms related to health issues symptomatic of post-traumatic stress. An estimated 5% of net profits of all sales will be donated to charity.Tactical Relief and Hollister intend to design and produce an everyday premium TACTICAL RELIEF™ branded CBD/THC product line. The first stock keeping unit (SKU) is expected to be a 20:1 CBD/THC 30ml tincture with a total of 1,000 mg of cannabinoids. Allied has plans to increase this product offering by bringing to market additional SKU’s under TACTICAL RELIEF™.Onto Allied’s second brand: MaXXa™. The first shipment of commercial “Cannabis Sativa Leaf Extract” skincare products to CBD Group Asia Ltd. (“CDB Asia”) were shipped on January 28, 2020 across the Chinese market. The product line, called MaXXa, is an Allied brand focused on bringing high-quality skincare products that promote vitality and youthfulness to the Asian consumer. Using a special formula including infused-hemp, MaXXa™ is looking to make a large impact in the Asian market as one of the first companies to deliver a Canadian-formulated and designed skincare line. The first products initially rolled out will be a cosmetic facial cream and an “anti-aging” serum, with additional products currently in development for future release.This shipment included a total of 120 total units encompassing 20 units for every six unique product SKUs. This agreement leverages CBD Asia’s capabilities to distribute Allied’s CBD-based cosmetics and natural health products into China, Hong Kong and throughout Asia in a 50:50 joint venture.CBD Asia specializes in the importation and customization of premium Canadian consumer packaged goods (“CPGs”) for the Chinese marketplace. The company’s vast network is expected to be utilized to distribute premium Canadian CPGs into China’s largest retail chains and stores, including RT-Mart International Ltd and Carrefour SA. Noting that Carrefour SA sells into 210 hypermarkets and 24 convenience stores in 51 cities. RT-Mart operates 484 retail locations covering 233 cities and 29 provinces in China. Additionally, CBD Asia is expected to be marketing and selling Allied CBD products through e-commerce and we-chat sales channels. The joint venture with CBD Asia is subject to the parties’ entry into a definitive agreement and obtaining any required third party consents and applicable regulatory approvals. The parties are currently operating under the terms of the letter of intent.Allied Charitable FoundationThe Allied Charitable Foundation (“ACF”) is pleased to offer healing retreats for Veterans and First Responders working with Post Traumatic Stress Disorder (“PTSD”). In these retreats, Veterans and First Responders experience evidence-based healing modalities such as therapeutic drumming, iRest Meditation, Yoga and Shinrin-Yoku nature therapy. Through financial support from corporate sponsor Allied Corp., these retreats are offered free of charge to Veterans and First Responders. ACF is partnering with veteran-led organizations to offer healing programming between retreats to increase community outreach and cohesion following retreats. ACF is also teaming up with Dr. Anna Baranowsky from the Traumatology Institute in Toronto, Ontario, to offer follow-up support through our online community and whatisptsd.com’s seven-week online, self-guided trauma recovery program. We look forward to a spring of new and deepened connections with the Veteran and First Responder communities across Canada as we extend our partnerships beyond healing retreats. FinancingThe Company is pleased to announce that it has closed a non-brokered private placement of two convertible secured notes for aggregate proceeds of US$600,000. The Company intends to use the net proceeds of the offering to further advance its interest in Colombia and at its future Kelowna production facility in British Columbia. A portion of the funds will also be for general working capital purposes. This offering allows the Company to advance its interest in production facilities while maintaining and protecting shareholder value.Terms of the convertible notes include the following:Gross proceeds of $US600,000.Sold at an origination discount of 2% to face value.Maturity date of 179 days from the date of issuance (the “Maturity Date”) and bear interest at 10% per annum, with a minimum of six months interest.At the option of the holder, the notes are convertible into shares of common stock of Allied at any time prior to the close of business on the last business day immediately preceding the maturity date at a conversion price of $1.25 per common share.The purchasers of the convertible notes also received one share purchase warrant for each $2.50 principal amount of convertible notes purchased to purchase one share of common stock for $1.25 per share for a period of one year from the date of issuance. A total of up to 240,000 share purchase warrants may be issued in connection with the exercise of the conversion rights under the notes.The Company may pre-pay the principal amount and any unpaid interest or any portion thereof at any time and from time to time without notice, further interest, bonus or penalty provided, however, that a minimum of six months interest is payable from the date of closing regardless of such repayment date.At the option of the noteholder, upon closing of any equity based financing for the Company, the note holder may require the Company to redeem the convertible note (to the extent available as net proceeds from any such financing) through repayment of any and all principal amount remaining due together with any accrued but unpaid interest, without further interest, bonus or penalty provided, however, that a minimum of six months interest is payable from the date hereof through such redemption date.The Company granted to the noteholders a security interest in all of the Company’s assets pursuant to the terms of general security agreement entered into in connection with the issuance of the convertible notes. The shares of common stock issuable on conversion of the Notes or exercise of the Warrants will be subject to a statutory hold period of six months under U.S. law including the Securities Act of 1933.Strategic Plan“Allied Corp. is focused on building out our multi-vertical concentration in key areas of production, pharmaceutical, natural health and within the charitable foundation. We have made major strides in the natural health vertical within this last quarter, and have begun getting some traction for our Tactical Relief™ proprietary blend in the US and our MaXXa© brand in Asia,” said Allied CEO Calum Hughes. “Scaling the sales of the Allied brands, developing our production resources and following our pharmaceutical development strategies and continuing to help through our healing retreats are our top priorities. As the Allied team continues to achieve our milestones, we are poised for rapid growth. Near term goals include further enhancing our product offerings, completion of production harvests in Colombia whilst adding depth to the core management team. The Allied team also looks forward to working closely with our partners and associates to execute on our long-term strategy,” Hughes continued.HighlightsThe Company has a vertically-integrated production supply chain from seed to sale;
Management is focused on making Colombia a low-cost producer in the creation of a high-quality product for export;
Management believes that the pharmaceutical focus of the Company offers a potential blue-sky opportunity. The pharmaceutical product development process has begun. The Company’s purposeful business model is to bring a PTSD pharma product through to Phase I clinical trials and then license to big pharma as a revenue opportunity;
Allied maintains a diverse natural health product line up with an international brand focused approach;
Management believes that the Company has now started to get brand appeal and international traction in two significant markets;
The Allied Charitable Foundation is making a difference in the lives of veterans and first responders;
Management believes that Allied is well-capitalized and fully funded.This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. persons,” as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.For more information on Allied Corp., visit www.allied.health About Allied Corp.
Allied Corp. is an international medical cannabis production company with a mission to address today’s medical issues by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.Media Contact:
+1-778-388-5258Forward-Looking Statements:This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada or “forward-looking statements” made pursuant to the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information”). Forward-looking information may relate to the Company’s future outlook and anticipated events, plans or results, and may include information regarding the Company’s objectives, goals, strategies, future revenue or performance and capital expenditures, and other information that is not historical information. Forward-looking information can often be identified by the use of terminology such as “believe,” “anticipate,” “plan,” “expect,” “pending,” “in process,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions. The forward-looking information contained in this press release is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Forward looking statements in this press release include the following: that Allied is leveraging the conditions in its Colombia grow operation and future Kelowna location to support its Research and Development efforts; that Allied is making important strides forward to position itself as a leader in the medical cannabis space, that Allied intends to make a series of proposed trademark and other intellectual property protection filings, as part of the Company’s Intellectual Property and Pharma Development (IP&PD) Strategy, statements respecting the joint development, manufacturing, and introduction of TACTICAL RELIEF™ branded products, and the use of proceeds from the offering of convertible notes.There can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Risk factors that could cause actual results to differ materially from forward-looking information in this release include: the Company’s exposure to legal and regulatory risk; the effect of the legalization of adult-use cannabis in Canada and Colombia on the medical cannabis industry is unknown and may significantly and negatively affect the Company’s medical cannabis business; that the medical benefits, viability, safety, efficacy, dosing and social acceptance of cannabis are not as currently expected; that adverse changes or developments affecting the Company’s main or planned facilities may have an adverse effect on the Company; that the medical cannabis industry and market may not continue to exist or develop as anticipated or the Company may not be able to succeed in this market; risks related to completion of the greenhouse construction in Colombia, risks related to market competition; risks related to the proposed adult-use cannabis industry and market in Canada and Colombia including the Company’s ability to enter into or compete in such markets; that the Company has a limited operating history and a history of net losses and that it may not achieve or maintain profitability in the future; risks related to the Company’s current or proposed international operations; risks related to future third party strategic alliances or the expansion of currently existing relationships with third parties; that the Company may not be able to successfully identify and execute future acquisitions or dispositions or successfully manage the impacts of such transactions on its operations; risks inherent to the operation of an agricultural business; that the Company may be unable to attract, develop and retain key personnel; risks resulting from significant interruptions to the Company’s access to certain key inputs such as raw materials, electricity, water and other utilities; that the Company may be unable to transport its cannabis products to patients in a safe and efficient manner; risks related to recalls of the Company’s cannabis products or product liability or regulatory claims or actions involving the Company’s cannabis products; risks related to the Company’s reliance on pharmaceutical distributors; that the Company, or the cannabis industry more generally, may receive unfavourable publicity or become subject to negative consumer or investor perception; that certain events or developments in the cannabis industry more generally may impact the Company’s reputation or its relationships with customers or suppliers; that the Company may not be able to obtain adequate insurance coverage in respect of the risks that it faces, that the premiums for such insurance may not continue to be commercially justifiable or that there may be coverage limitations and other exclusions which may result in such insurance not being sufficient; that the Company may become subject to liability arising from fraudulent or illegal activity by its employees, contractors, consultants and others; that the Company may experience breaches of security at its facilities or losses as a result of the theft of its products; risks related to the Company’s information technology systems; that the Company may be unable to sustain its revenue growth and development; that the Company may be unable to expand its operations quickly enough to meet demand or manage its operations beyond their current scale; that the Company may be unable to secure adequate or reliable sources of necessary funding; risks related to, or associated with, the Company’s exposure to reporting requirements; risks related to conflicts of interest; risks related to fluctuations in foreign currency exchange rates; risks related to the Company’s potential exposure to greater-than-anticipated tax liabilities; risks related to the protection and enforcement of the Company’s intellectual property rights, or the intellectual property that it licenses from others; that the Company may become subject to allegations that it or its licensors are in violation of the intellectual property rights of third parties; that the Company may not realize the full benefit of the clinical trials or studies that it participates in; that the Company may not realize the full benefit of its licenses if the licensed material has less market appeal than expected and the licenses may not be profitable; as well as any other risks that may be further described in and the risk factors discussed in the Company’s continuous disclosure including its Management’s Discussion and Analysis sections in its Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K filed under the Company’s profile at www.sec.gov.Although management has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking information in this presentation, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information in this presentation. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers and viewers should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this release represents the Company’s expectations as of the date of this release or the date indicated, regardless of the time of delivery of the presentation. The Company disclaims any intention, obligation or undertaking to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Yield Growth Announces Delay in Filing Under CSA Instrument Governing Relief under COVID-19 Duress
Vancouver, British Columbia–(Newsfile Corp. – April 4, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (“Yield Growth” or the “Company”) announces that further to its announcement on April 2, 2020, due to the disruption caused by the spread of COVID-19 and logistical problems relating to switching to having its personnel working remotely, it did not file its audited annual financial statements for the year ended November 30, 2019 (the “Financial Statements“) and the related management discussion and analysis for the same period (the “MD&A“) by the required due date of March 30, 2020, in each case as required by National Instrument 51-102.
The Company expects to file the Financial Statements and MD&A on or about April 14th, 2020.
The Company’s management and other insiders are subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until the Financial Statements and MD&A have been filed;
Other than as previously disclosed by the Company, there have been no material business developments since the date of the Company’s quarterly financial statements and management discussions and analysis for the nine month period ended August 31, 2019.
About The Yield Growth Corp.
The Yield Growth Corp. conducts research and development and sells plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization. Its products are sold through e-commerce worldwide and retail stores in 3 countries with distribution agreements in place for 12 more countries. It conducts research for plant-based therapeutics, including protection against infectious diseases, and has 13 patents filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the plant-based skin care brand Urban Juve, which is currently launching a line of hand care products, and it owns wellness brands Wright & Well and Jack n Jane. It’s majority owned subsidiary Flourish Mushroom Labs is launching a line of medicinal mushroom products and developing a business in the emerging market of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies do to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. The laws around cultivating, selling and using psychedelic mushrooms would need to change in most jurisdictions in order for the use of psychedelic products to be legal and sale of, and demand for, Urban Juve, Wright & Well, Flourish Mushroom Labs, Jack n Jane and UJ Beverages products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54143
Sixth Wave Files Patent Application for Rapid Detection of Emerging Viral Outbreaks such as COVID-19
- Proposed Rapid Detection Test for viral outbreaks such as COVID-19 is based on previously developed Molecularly Imprinted Polymer platform.
- Testing platform has the objective of detecting the presence of viruses without relying on the existence of antibodies, which can take weeks to be present in the body.
- Testing platform could be rapidly adopted to test for both new viruses and mutations of previously discovered viruses.
- Potential for colorimetric response could provide indication as to the presence of virus within minutes.
- Team previously developed Explosive Detection Wipes, which produced colorimetric changes within 30 seconds upon contact with bomb making materials.
Vancouver, British Columbia–(Newsfile Corp. – April 3, 2020) – Sixth Wave Innovations Inc. (CSE: SIXW) (OTC Pink: ATURF) (FSE: AHUH) (“Sixth Wave” or the “Company”) is pleased to announce that it has filed Patent Application Number 63000977 – The Use of Molecularly Imprinted Polymers for the Rapid Detection of Emerging Viral Outbreaks, such as SARS-CoV-2 virus responsible for COVID-19, with the United States Patent and Trademark Office (the “Accelerated Detection MIPs” or “AMIPs“).
COVID-19 & the Need for Rapid Diagnostics
Viral pandemics such as COVID-19 are a rapidly emerging threat to global security and economic stability. Unlike bacterial infections which have a wide range of developed antibiotic therapies, new viral infections have very few pre-existing treatments. The World Health Organization has correspondingly noted a public health emergency and an urgent need for rapid diagnostics, vaccines and therapeutics to detect, prevent and contain the COVID-19 virus. The success of these remediation efforts will depend largely upon early detection, proactive and preventive measures, attempting to contain the rate of viral growth until customized treatments can be developed and made available.
One of the primary factors leading to the outbreak of COVID-19 virus has been the relative lack of rapid diagnostic tools. The development of effective early stage diagnostics for COVID-19 has consumed valuable time in which lives are at stake, with significant issues remaining regarding access to testing several months after the virus was first identified. This breakdown and delay in testing capacity has resulted in a failed containment effort, conservatively estimated to have resulted in hundreds of thousands of otherwise avoidable infections. With improved preventive strategies, including early response and testing capabilities, the rapid rate of viral expansion and the shortfall of medical supplies now being experienced can be more effectively contained, managed and ameliorated.
Rapid Diagnostic Technologies
A promising area of preventive strategies is the use of Rapid Diagnostic Technologies (“RDTs“), tools designed to quickly and accurately diagnose the active virus. Many forms of RDT utilize Polymerase Chain Reaction (“PCR“) methodologies, processes which can require highly trained laboratory staff and processing times ranging from hours to days, thereby offsetting their efficacy as rapid response diagnostic tools. Another promising RDT for the diagnosis of COVID-19 is Immunoassay Technology (“IAT“), a highly effective and easy to use diagnostic platform. However, IAT relies on the detection of antigens or antibodies which can take days or weeks to develop within the body, with the result that a person can be contagious and spreading the virus prior to detection.
Sixth Wave’s patent application contemplates the development of a flexible platform for the rapid deployment of RDTs for new viral threats. This AMIPs technology could have all of the advantages of traditional PCR and IAT diagnostics, with the potential to be developed, deployed and scaled in a fraction of the time.
The Sixth Wave Solution
This proposed AMIPs device would generate an instant colorimetric response, or change in color, in order to indicate the presence of COVID-19 and other viruses. This visual confirmation capability is a feature of other prior Sixth Wave technologies, most notably the Company’s explosives detection wipes and bacterial pathogen detection swabs.
The AMIPs technology proposes a flexible and scalable development platform, able to adapt to the demands of detecting constantly evolving viral strains beyond COVID-19. To accomplish this, Sixth Wave plans to build a database of MIPs, prepared using viral surrogates and/or inactive strains, and based on the general shape, size and morphology of generic classes of known viruses (the “AMIPs Library“). This database will comprise a reference inventory, ready for immediate deployment in the screening of new or emerging viral threats, and minimizing the response time required to issue new diagnostics.
The patent application draws significantly upon Sixth Wave’s prior experience in Molecular Imprinted Polymers (“MIPs“). The selective binding capabilities of MIPs are well documented in literature and have even been referred to as “plastic antibodies”. Sixth Wave has a proven record in the detection and binding of target analytes using MIP technology. The Company has successfully developed a similar MIPs-based rapid detection test for improvised explosives (the “Explosive Detection Wipes” or “EDW“). The EDW platform is highly effective and simple to use, providing fast colorimetric indication of 36 target analytes, all while using a single-use wipe. As with the virus detection platform, accuracy in explosives detection is paramount, with lives at stake, and the technology has been noted for delivering zero false positives during field use.
“Now more than ever, the reality of an interconnected world means there is a desperate need to quickly identify and stem the tide of emerging pandemic outbreaks,” said Dr. Jonathan Gluckman, President & CEO of Sixth Wave. “Rapid detection, the ability to instantly assess the threat of viral contact, and tools of early intervention are crucial to the containment of new viruses. We hope this technology will revolutionize how we get ahead of pandemics like COVID-19 and other future novel viruses, preventing their spread and mitigating the social and economic losses.”
The AMIPs Advantage
The proposed AMIPs platform uses a branch of nanotechnology known as MIPs, a versatile materials science which can be engineered into many physical configurations, including adherence to a wipe, suspension in an assay, or affixed to a membrane for lateral flow testing. The proposed testing device can be envisioned as a cartridge-type system where the format, detection method and sampling/detection process is the same for all threats. The interchangeable component would be the molecular recognition chemistry which would be unique to each new threat.
This platform prospectively offers a number of advantages over existing methods of viral detection and containment. These include:
(i) Rapid Deployment – The AMIPs system will be designed for rapid response and to be the first diagnostic test available for a new viral outbreak. Based on the Company’s prior experience in MIPs formulations, the development cycle of any new AMIPs product will prospectively be less than 30 days, from identification of a new viral threat to an AMIPs detection product in the hands of front line healthcare providers. The format of the rapidly deployable AMIPs is a multi-welled micropipette dish with Sixth Wave’s unique viral MIPs coated on the bottom of the wells. This cartridge design would make it possible to screen against multiple classes of viruses with the flexibility to use several known off the shelf detection chemistries for the colorimetric response.
(ii) Compatible with Multiple Target Analytes – With the AMIPs system, Sixth Wave proposes to directly detect viral particles. Further, the AMIPs platform is planned to be compatible with detecting other components unique to a particular virus such as DNA, RNA, proteins, small molecules, and antibodies. This powerful and comprehensive platform would give scientists multiple pathways to detect a virus to give the best performance and diagnostic capabilities.
(iii) Fast, Accurate & Easy to Use – The second potential platform for the AMIPs technology would be lateral flow tests, similar to using a pregnancy test. The colorimetric response would allow for quick, qualitative analysis without mixing reagents, complex machines, or even power requirements for a fast, easy-to-use, and reliable response that requires little, if any, training. First responders, caregivers, and even the patients themselves, could potentially perform the test and receive results in minutes.
(iv) Durable, Affordable & Mass Producible – MIPs are based on a synthetic polymer, allowing for extended shelf life, minimal storage and handling requirements, and less sensitivity to temperature and light degradation relative to antibodies used in traditional IAT products. The MIPs formulations could be applied to several inexpensive consumables to provide low cost, mass production pathways for real-time qualitative or quantitative analysis, depending on device format.
(v) Flexible, Scalable & Adaptable – The AMIPs platform would allow for rapid reconfiguration, including the testing of any bodily fluid containing the virus, screening for multiple infections in just one test, and even testing surfaces to reduce the spread of contamination. The technology proposes to detect whole classes of viruses, allowing researchers to deploy the diagnostics without actually cultivating antigens or antibodies specific to a particular new virus strain. The AMIPs Library anticipates other viral threats and prepares for rapid and responsive development of new products based on this existing platform.
About the AMIPs Library
Adapted from other Sixth Wave commercial applications, AMIPs relies on MIP methodologies to identify and trap specific analytes. Formed with a 3D mold of the targeted analyte, MIPs can be applied to generate a variety of effective sensors, each with the ability to display a visual confirmation. For a viral threat such as COVID-19, recognition of the intact virus would be the most efficient process timewise using a MIP that recognizes and binds to the virus.
However, in anticipation of forthcoming new viral strains, clearly there will be no time to develop a novel MIP after a new outbreak has occurred. To avoid such delays and develop new diagnostic products on minimal turnaround, the Company plans to develop the AMIPs Library as a database of MIPs based on the general shape, size, and morphology of generic classes of viruses. In this way, future delays in diagnostics are avoided, with the potential for new generations of interchangeable AMIPs cartridges or wipes using the same physical format, detection method, and sampling process as prior generations.
The ultimate goal is a flexible platform that can be continuously altered to meet the demands of constantly evolving viral strains. The AMIPs inventory would be proactive, readily available for screening against plausible new threats. The most selective MIP for any emergent virus would be incorporated into a previously defined delivery platform. The chemical manufacturing process would be known, and direct scale-up to manufacture could be initiated immediately and applied to kits amenable to mass production.
About Sixth Wave
Sixth Wave is a development stage 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 commercializing its AffinityTM cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry.
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 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 our web site at: www.sixthwave.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned features, capacity and performance of the AMIPs technology. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the AMIPs technology are subject the risk that the AMIPs technology may not prove to be successful in detecting virus targets effectively or at all, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if the patent is not granted.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54124
TransCanna to Rely on Temporary Blanket Relief for Required Filings
Vancouver, British Columbia–(Newsfile Corp. – April 3, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company“) today announces that it anticipates a delay in the filing of the financial statements required pursuant to Part 4 of National Instrument 51-102 Continuous Disclosure Obligations (the “Instrument“) as a result of the completion by the Company of the recent acquisitions of Tres Ojos Naturals LLC (dba Soldaze), and Lyfted Farms, Inc. in the Fall of 2019, both US corporations, as new subsidiaries of the Issuer.
The delay is due to the Company’s new management’s difficulties in coordinating with the auditor the collection of all of the required data and documentation to complete the audit on a consolidated basis. As well, certain key persons who are needed to complete the audit are being affected by the current COVID-19 pandemic due to self-isolation requirements.
The Instrument requires that the Company’s audited financial statements and MD&A for the fiscal year ended November 30, 2019 be filed by March 29, 2020 (“Original Filing Deadline“). The Company and its auditor are in the process of completing the required audit work to complete these audited financial statements and associated MD&A (collectively, the “Required Filings“). The Company expects that the Required Filings will be completed and filed on or before April 30, 2020.
In these circumstances, and considering the anticipated delay in making the Required Filings within the time period mandated by the Instrument, the Company intends to rely upon the temporary blanket relief afforded by Canadian securities regulators to extend the date for the filing of the Required Filings for up to 45 days from the date of the Original Filing Deadline.
During the period that the Required Filings remain outstanding, TransCanna’s management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that there have been no other material business developments since August 31, 2019, the date of the Company’s last filed third quarter interim consolidated financial statements, other than the two business acquisitions described above.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, company building Cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
Steve Giblin, President
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54118
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