Cannabis Companies Prepare for Explosive Growth Following Federal US Legalization

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NEW YORK, Aug. 5, 2021 /PRNewswire/ -- At least 18 states in America have legalized recreational marijuana and 37 have legalized different forms of medical marijuana thanks to the growing push for legalization at the state and federal levels. If passed, the Marijuana Opportunity Reinvestment and Expungement (MORE) Act would remove marijuana from the Controlled Substances Act where it is listed as a Schedule I drug. As both state and federal governments move closer to legalizing cannabis, companies within this sector are also laying the groundwork and pursuing initiatives to gather a market share within the cannabis industry. Sixth Wave Innovations Inc. (OTCQB:SIXWF) (CSE:SIXW), Neptune Wellness Solutions (NASDAQ:NEPT) (TSX:NEPT), Canopy Growth Corp (NASDAQ:CGC) (TSX:WEED), Sundial Growers Inc. (NASDAQ:SNDL), and GrowGeneration Corp (NASDAQ:GRWG) are among the companies capitalizing on the growing push for legalization and the increased demand for cannabis products.

Sixth Wave Innovations Inc. (OTCMKTS:SIXWF) (CSE:SIXW) announced the completion of the initial design for manufacturing for its Affinity System, a cannabinoid purification system. The company has therefore given Advanced Extractions Systems Inc. (AESI) approval of the design and commissioned the delivery of the first Affinity System. The company estimates that the system will be ready for its wet testing at AESI in late September. The company also anticipates shipping for Sixth Wave's Maryland laboratory shortly after the wet testing.

Sixth Wave Innovations is currently on schedule for the Affinity System and hopes to optimize the final product before delivering it to customers. The company is also on schedule to deliver the first 3 Affinity Systems to Green Envy Extracts in the fourth quarter of the year. Once they complete the delivery of the first system, Sixth Wave will operate the system for 60-90 days as per the purchase agreement to produce a high-purity full-spectrum cannabinoid distillate before completing the purchase order for an additional two systems at Green Envy's facility.