Halifax, Nova Scotia–(Newsfile Corp. – May 10, 2022) – Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH) (“Sixth Wave”, “SIXW” or the “Company“), a world leader in molecular imprinting technology, announced today that Champlain Mineral Ventures Ltd. (“CMVL”) has expanded the funded scope of its metallurgical test plan and alternate process regimen to extract high grade lithium carbonate/hydroxide from the multi-billion dollar pegmatite hosted, spodumene ore resource located at Brazil Lake property in Nova Scotia (see as recently confirmed by CMVL’s published NI 43-101).
Sixth Wave has completed a preliminary flow sheet including relatively low energy cracking, green lixiviant, and proprietary IXOS purification designed to be energy efficient with low solvent consumption as per the first phase of work. The design components will begin to be tested during this next phase and have the potential to deliver a permittable onsite processing plant with robust economics to add significant value to a Preliminary Economic Assessment of the Brazil Lake deposit planned for completion in Q4 2022.
Sixth Wave and CMVL are committed to sustainable mining and high Environmental, Social, and Governance (ESG) standards as per release: https://sixthwave.com/sixth-wave-innovations-inc-engaged-by-champlain-mineral-ventures-ltd-brazil-lake-lithium-deposit/
“Lithium’s price has surged fivefold in the past year, reflecting mounting worries about availability. The stakes are high for carmakers that are spending billions of dollars betting on a battery-powered future. Mining companies and governments are responding with ambitious plans to boost production and ensure domestic supply and manufacturing. It will be of growing importance to mine and process these high value materials in jurisdictions that will support local industry. Canada’s presence in the Battery industry requires successful collaboration like this Champlain / Sixth Wave project,” notes Dr. Jonathan Gluckman, President, and CEO of Sixth Wave.
Mr. John F. Wightman, M.Sc., P.Eng., President, and CEO of CMVL commented that: Sixth Wave’s IXOS technology and related flow sheet will enable operators to contemplate production of 99.5% pure Lithium Carbonate. This upgrade has the potential to multiply the Net Present Value of the project at Champlain Mineral’s, Brazil Lake Resource. The addition of this clean and efficient process has the will to add highly skilled jobs and tremendous economic value to the local Yarmouth County and Provincial economies.
The company would like to provide a correction to the press release issued on May 4, 2022. SIXW did not issue 760,000 shares under an employee participation plan in lieu of a portion or all, of the employee’s cash compensation. The company issued 760,000 deferred share units under its deferred share unit plan.
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on the extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The Company has commercialized its IXOS purification polymer for the gold mining industry and is in the process of final commercialization of its Affinity™ cannabinoid purification system, as well as its AMIPS polymers for detection of viral and bacterial pathogens.
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: 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
E-mail: [email protected]
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned features of the MIPs 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 MIPs technology are subject to the risk that the MIPs technology may not prove to be successful in detecting virus targets effectively or at all, the uncertainty of medical product development, the 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 its patent application is not successful. The Company has not yet completed the development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123416