On December 30, 2020, Sixth Wave Innovations Inc. (CSE: SIXW; OTCQB: ATURF; FSE: AHUH) (“Sixth Wave”) announced the completion of a non-brokered private placement of unsecured convertible debentures (“Convertible Debentures”). Pursuant to the closing, Sixth Wave sold and issued 1,523 Convertible Debentures at a price and principal amount of $1,000 per Convertible Debentures for gross proceeds totaling $1,523,000.
Concurrent with the closing of the Convertible Debentures, the Company repaid USD$600,000 out of a total of USD$871,368 of debt owed to Affinity Nanotechnology Inc. (“Affinity Nanotechnology“). The remaining amount of debt owing to Affinity Nanotechnology, being USD$271,368 or CAD$350,000, was refinanced and settled by the issuance of 350 Convertible Debentures.
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).
Jonathan Tong (Capital Markets & Securities) of Miller Thomson advised Sixth Wave on the private placement with a team comprising of Luigi Valente (Capital Markets & Securities), as well as the refinancing with a team comprising of David Reynolds (Financial Services).
