Sixth Wave Innovations Inc SIXWF

Termination of Proposed Transaction with AES

[lscfa]

HAKKEN Capital Corp. Announces Termination of Proposed Qualifying Transaction with Advanced Extraction Systems Inc.
 

VANCOUVER, British Columbia – February 15, 2023 HAKKEN Capital Corp. (TSXV: HAKK.P) (the “Company” or “HAKKEN”), a capital pool company listed on the TSX Venture Exchange (the “Exchange”), announces that the proposed qualifying transaction (“Qualifying Transaction”) pursuant to the Exchange Policy 2.4 Capital Pool Companies (the “CPC Policy”) with Advanced Extraction Systems Inc. (“AESI”) has been terminated in accordance with terms of the nonbinding letter of intent dated June 28, 2022 entered into by the Company and AESI, which was previously announced on July 11, 2022.
 

The Company intends to immediately resume its search for a target business for its Qualifying Transaction. The Company has applied to the Exchange for a resumption of trading of its common shares.

[throwaway11]

Yup. I was told by someone from Hakken they were waiting for a completed audit of AESI in the New Year, and I can only guess that they couldn't get one. This means the emphasis is entirely on SIXW to begin market-proving one of their products.

[lscfa]

so just what the hell is SIXW doing giving money to AES?   "The Company currently intends to use a portion of the net proceeds from the Private Placement to complete transition of the AffinityTM cannabinoid and botanicals purification license to Advanced Extraction System Inc. as per its existing licensing agreement..."

[throwaway11]

Sounds like they may have known that AESI wasn't going to go public and the money is supplimental? Their relationship will probably continue whether or not AESI goes public, even if the original agreement reads differently. I knew money would be needed for hiccups which is why I was so pissed off to see the Co. giving its top brass huge salaries and spending a ton of money on stock promotion

[lscfa]

The TSXV has a rule that PPs can't be done for less than $0.05/sh unless co. claims a hardship exemption. Don't know what the rules are at CSE. 

[throwaway11]

It's the same. I read the CSE's rules recently on this.

[throwaway11]

ISCFA I have family who is still well in this stock, albiet at a much lower average than I was - still down stupidly regardless as we reach a 0.025 stasis. ~30% of the float has traded hands since the stock went beneath 10 cents which is more or less cementing the stock, especially now with a $2 million 0.05 private placement when the market cap is below $5m. Thinking it's time to pull them

[lscfa]

Never assess a stock based on your cost base. Rather, decide if it is worth investing in at today's price and how much. Bozo mgmt has made this a risky, lotto ticket risk investment. Invest only what you can afford to lose.