Cannabis-Infused Ice Cream Just One of the Latest Edible Entries to the Growing Cannabis Sector

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NEW YORK, Aug. 11, 2021 /PRNewswire/ -- Cannabis edibles are easily the most popular items in the sector and companies in the space haven't slowed down offering new exciting products to market for consumers. The newest addition to the ever-growing space is a line of cannabis-infused vegan and dairy ice cream created by Boston-based ice cream brand Emack & Bolio and multi-state cannabis company MariMed. Of course, innovative cannabis edibles are nothing new, with everything from cannabis-infused chocolates, wines and even cooking oils popping up in stores. In order to hold onto their share of the market, companies like Hexo Corp. (NYSE:HEXO) (TSX:HEXO), OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), and Tilray, Inc. (NASDAQ:TLRY) are continuously pushing the boundaries of what is possible in the cannabis 2.0 space. One company that stands to benefit from ongoing innovation in the space is Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF), a nanotechnology company that has developed a system that allows cannabis companies to create high purity distillates for their products with less machinery, manpower and money.

Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) is a nanotechnology company innovating in the cannabis extraction space through the development of its Affinity cannabis purification technology. The Affinity system uses the company's patent-pending Molecularly Imprinted Polymer (MIP) technology to take winterized and partially winterized crude cannabis oils and eliminate distillation and chromatography, while yielding high purity distillates and isolates. The Affinity System reduces sources of product loss, creates a higher value output product due to the higher purity of the product, reduces OPEX and space requirements, and allows for continuous operation through batch processing to achieve higher processing efficiency and volumes.

In July, Sixth Wave Innovations completed the initial Design for Manufacturing of its Affinity System and gave Advanced Extraction Systems Inc. (AESI) approval of the design and bill of materials and commissioned delivery of its first system. The system is expected to be ready for wet testing in late September and ready for shipment to Sixth Wave's proving laboratory in Maryland shortly thereafter. The Affinity System can be manufactured modularly, making it more flexible and cost-effective to modify in the future according to customer requirements prior to delivery.

On August 5, Sixth Wave Innovations finalized the commercial system design for the Affinity system and remains on schedule to deliver the first three Affinity Systems to Green Envy Extracts in Q4 2021. The company expects to take delivery orders from additional customers later this year, then accelerate its manufacturing capacity going into 2022.

"I'm excited that we have reached the last phase of testing before rolling out our first Affinity units to our commercial partner," said President and CEO of Sixth Wave Dr. Jonathan Gluckman. "All the data from our research and development work indicates that Affinity units can eliminate winterization and produce high-purity, full-spectrum distillates that consumers demand, both for recreational and medicinal purposes."

Cannabis 2.0 Expands Its Reach Through Innovation and Partnerships

Hexo Corp. (NYSE:HEXO) (TSX:HEXO) is trying to achieve its goal of being in the top two positions in Canada through acquisitions. The company announced it has entered into a definitive arrangement agreement to acquire all of 48North's issued and outstanding common shares in an all-share transaction valued at approximately $50 million. This will bring 48North's product portfolio under the Hexo umbrella, and strengthen the company's position and market penetration.

OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) is also growing, with revenues up 51% quarter-over-quarter in Q3 2021 at $29.1 million and 31% YoY. In April, Organigram completed the acquisition of Edibles & Infusions Corp. (EIC) to bolster its cannabis 2.0 offerings. EIC, which was co-founded by AgraFlora Organics International Inc. and Cavalier Candies CEO James Fletcher, offers a purpose-built, highly-automated, 51,000-square-foot manufacturing facility in Manitoba.

Canadian company Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) is an industry leader, and is taking its business around the world. The company announced on July 15 that it had delivered a single cannabis shipment worth approximately C$8 million. This constitutes one of the largest shipments the country has ever received, and is a major step toward advancing the company's mission in the international medical business.

Global cannabis titan Tilray, Inc. (NASDAQ:TLRY) recently expanded its offerings in Canada with the launch of its medical cannabis edibles in THC and CBD-rich varieties in different forms including chocolates and soft chew gummies. Patients across Canada will not be able to purchase Tilray's edibles; a new addition to its highly comprehensive offerings including whole flower, oils, vapes, cannabis medicines, and even pre-rolls.

The first delivery of the Affinity system continues to approach for Sixth Wave. With testing estimated to be completed in the near future, updates will be highly anticipated.

To learn more about the Affinity system and Sixth Wave, click here.

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