Nextleaf Solutions Announces Health Canada Standard Processing Licence Issued to Nextleaf Labs

Published: September 10, 2019

Nextleaf Solutions Announces Health Canada Standard Processing Licence Issued to Nextleaf Labs

Nextleaf Solutions Ltd. announced that Nextleaf Labs Ltd. has received its Standard Processing Licence from Health Canada. This represents an important milestone for Nextleaf Solutions, allowing OILS to commercialize its intellectual property (“IP”) portfolio through the production of cannabis oils and concentrates.

Nextleaf Solutions owns a portfolio of four (4) issued and 25 pending patents pertaining to the industrial-scale extraction and purification of cannabinoids, such as THC and CBD. The Company’s patented cryo-ethanol extraction, filtration, refinement and molecular distillation process and hardware will support the manufacturing of standardized THC and CBD based products. Since 2017, Nextleaf Solutions has been focused on acquiring, developing, and protecting IP that enhances cannabis oil economics. OILS aims to capitalize on its first mover technical advantage, with Canada set to become the first G20 country to legalize the production and sale of cannabis oils, concentrates, and edibles later this year.

Currently, Nextleaf Labs licenses the Company’s IP and infrastructure in British Columbia pursuant to a licensing agreement. As a result of the receipt of the Health Canada Standard Processing Licence by Nextleaf Labs on September 6, 2019, Labs will begin utilizing the Company’s IP portfolio to commence B2B toll processing and white label production of cannabis oils and concentrates for qualified Canadian and international partners under their own brand.

“Our vision is to develop technology to revolutionize extraction throughput, yield, and purity to enhance cannabis oil economics across the globe” said Paul Pedersen, CEO of Nextleaf Solutions. “We are beyond excited to begin commercializing OILS’ intellectual property portfolio for industrial-scale extraction and purification of CBD and THC,” continued Mr. Pedersen.

Nextleaf Solutions Ltd. (“OILS”) is the first publicly traded company to be issued a patent for the industrial-scale extraction and purification of cannabinoids. OILS owns a portfolio of four (4) issued and 25 pending patents pertaining to the production of high-purity cannabinoid distillate, the precursor used in the manufacturing of standardized THC and CBD based products.