VANCOUVER, Oct. 16, 2019 /CNW/ - Nextleaf Solutions Ltd. ("Nextleaf", "OILS", or the "Company") (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), an extraction technology company that owns a portfolio of eight (8) issued and 35 pending patents pertaining to industrial-scale extraction, purification and formulation of cannabinoids, announced today that it has added Dr. Sherry Boodram, former Senior Regulatory Compliance Officer with Health Canada, to its Board of Directors, effective immediately.
Currently, Dr. Boodram is the co-founder and CEO of CannDelta Inc. ("CannDelta") - a regulatory and scientific cannabis consulting company based out of Toronto, Canada - where she provides regulatory expertise and develops strategies to ensure regulatory compliance within Canada's existing legal cannabis framework.
"The serious regulatory infractions by several large Canadian licensed cannabis producers, along with an expanded scope of cannabis products through legalization 2.0, reinforces the critical role that compliance oversight plays in building a cannabis company all stakeholders can be proud of," stated Paul Pedersen, co-founder and CEO of Nextleaf Solutions. "Sherry is amongst the most credible and qualified cannabis regulatory experts in Canada, and we believe her background, insights, and industry experience will add tremendous value to our Board."
Prior to founding CannDelta, Dr. Sherry Boodram spent several years in the Canadian federal government, most notably with Health Canada's Medical Cannabis Program as a Senior Regulatory Compliance and Enforcement Officer. She was responsible for licensing application reviews and on-site facility inspections under the legislative regimes of the Marihuana for Medical Purposes Regulations (MMPR) and Access to Cannabis for Medical Purposes Regulations (ACMPR). Dr. Boodram also provided field level input during the drafting of the current Cannabis Regulations.
"Being a company with values I can stand behind, I'm very excited to serve alongside Nextleaf's existing Board members and with their talented executive team," stated Dr. Sherry Boodram. "Moreover, I look forward to maximizing the unique knowledge and experience I gained while at Health Canada's Medical Cannabis Program, and in the cannabis industry as a whole, to provide expertise in support of Nextleaf's ongoing commitment to regulatory compliance, good governance, and long-term growth as a leader in cannabis extraction technology."
Dr. Boodram holds a Ph.D. in Chemistry from York University, a B.Sc. (Hon) from the University of Toronto, and a Graduate Certificate with Honours in Pharmaceutical Regulatory Affairs and Quality Operations from Seneca College. Dr. Boodram is also a member of the Canadian Association of Professionals in Regulatory Affairs (CAPRA).
The Company has awarded a director of the Company options to purchase up to 150,000 common shares of the Company pursuant to the Company's Stock Option Plan, exercisable at a price of $0.50 per share.
About Nextleaf Solutions
Nextleaf Solutions Ltd. ("OILS") is developing disruptive intellectual property for industrial-scale extraction, purification and formulation of cannabinoids. OILS owns a portfolio of eight (8) issued and 35 pending patents pertaining to the production of high-purity, cannabinoid rich distillate, the key ingredient used in the manufacturing of standardized THC and CBD infused products. Once cannabis concentrates and edibles become legal across Canada, OILS plans to commercialize its intellectual property portfolio through IP licensing, B2B processing services, and the supply of THC and CBD oils and concentrates to qualified Canadian and international partners.
Nextleaf Solutions trades as OILS on the Canadian Securities Exchange (CSE: OILS), OILFF on the OTCQB Market in the United States (OTCQB: OILFF) and L0MA on the Frankfurt Stock Exchange (FSE: L0MA).
CAUTIONARY STATEMENT: Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, the strategy, plans, objectives, goals and targets of each of the Company, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's MD&A for the most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The CSE has not reviewed, approved or disapproved the contents of this press release.