Sep 10, 2019, 12:38 ET
Patented technology allows for dried cannabis and hemp biomass to be efficiently processed into a high-purity distilled oil, simplifying the manufacturing of differentiated THC and CBD formulations and delivery methods
VANCOUVER, Sept. 10, 2019 /CNW/ - Nextleaf Solutions Ltd. ("Nextleaf", "OILS", or the "Company") (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) announced today it has been granted a fifth patent, its fourth in the United States, pertaining to the Company's proprietary technology for extraction and post-extraction processing of cannabinoids.
This most recently issued patent integrates a process by which brine is introduced to the crude oil to efficiently remove water-soluble compounds, impurities, and any other trace elements of treatment media. The result is a highly pure input, leading to faster processing times for further patented post-extraction processing, resulting in a lower cost per milligram for the highly refined THC or CBD concentrate.
"It has been our vision since inception that intellectual property would become a key differentiator and value creator in the cannabis industry," stated Paul Pedersen, Chief Executive Officer of Nextleaf. "With five issued and 25 pending patents covering what we believe to be the most efficient method of extraction and purification of cannabinoids, Nextleaf is well positioned to monetize our intellectual property as we move into Cannabis 2.0 in Canada and beyond," added Pedersen.
OILS remains focused on acquiring, developing, and patenting the industry's most advanced market-proven technology, equipment, and processes around the extraction and purification of cannabinoids. The Company's patented process yields a tasteless, odorless THC or CBD distillate, manufactured at scale, standardized for potency, and ready for infusion in value-add products, such as vape technology, edible oils, and beverages.
On Behalf of the Board of Directors of the Company,
Paul Pedersen, Co-Founder & CEO
About Nextleaf Solutions
Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial-scale extraction and purification of cannabinoids. Nextleaf owns a portfolio of five (5) issued and 25 pending patents pertaining to the production of high-purity, cannabinoid rich distillate, a key ingredient used in the manufacturing of standardized THC and CBD infused products. Once cannabis concentrates become legal across Canada on October 17, 2019, the Company plans to commercialize its intellectual property portfolio through IP licensing and B2B processing services.
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)
Adel Fares, Investor Relations
604-283-2301 (ext. 201)
For more information visit www.nextleafsolutions.com or follow OILS across social media platforms: Twitter, LinkedIn, Facebook, Instagram and YouTube.
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, those regarding the Company's ability to capitalize on its IP portfolio, expectations regarding lower concentrate costs resulting from utilization of the Company's technology, levels of purity resulting from the Company's patented technology, and the Company's strategy, plans, objectives, goals and targets, 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.
SOURCE Nextleaf Solutions Ltd.
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