VANCOUVER, ON -- Sept. 16,
2019 -- InvestorsHub NewsWire -- Nextleaf Solutions Ltd.
("Nextleaf", "OILS", or the
"Company") (CSE: OILS) (OTCQB: OILFF) (FSE:
L0MA) has announced entering into an exclusive supply
agreement with BevCanna Enterprises Inc.
("BevCanna"), an emerging leader in cannabis
infused beverages, based in BC, Canada.
Nextleaf has granted
exclusive license to BevCanna for the use of intellectual property
related to water-soluble cannabinoids for the development,
manufacturing and sale of BevCanna products. This will include
BevCanna's portfolio of house brands, and white label products
developed by BevCanna for third parties.
Performance milestones
include commercialization within 12 months of the legalization of
infused products and edibles in Canada. The initial term of
the agreement extends for 3 years after the legalization of infused
products, and subsequent 5-year renewal period.
"BevCanna has a
world-class bottling plant on a spring water aquifer, its one of
the most unique licensed production facilities in Canada,"
said Paul Pedersen, Nextleaf CEO. "The BevCanna team brings a
tremendous amount of experience in creating iconic beverage brands
and consumer packaged goods, such as Mike's Hard
Lemonade, Vega, and Trace Beverages. BevCanna is a great
example of the caliber of partner we want to commercialize our IP
through." stated Pedersen.
BevCanna has recently
shared two of its intended brands for commercialization
in Canada, including Anarchist Mountain Beverages, a line of
THC infused sparkling spring water beverages with botanical flavor
profiles inspired by the Pacific Northwest. Additionally, Gruv, a
line of easy-drinking iced tea beverages, with a blend of THC and
CBD.
"We are very pleased to
leverage Nextleaf's technology within our formulations, as they
have a proven reputation for unique and differentiated IP,"
shared Emma Andrews, Chief Commercialization Officer at
BevCanna. "Their patented extraction and purification process will
allow our beverages to be made with odorless, tasteless
cannabinoids, resulting in a superior taste and consumption
experience. A natural compliment to our premium spring water base.
We believe taste and reliability will be essential to growing this
category." Andrews said.
Through the Standard
Processing License announced last week for Nextleaf Labs, and under
BevCanna's recently issued Research License, product development
activities will take a significant step forwards,
including stability validation, sensory evaluation, and
equipment testing, in preparation for scale-up towards full
commercialization.
On Behalf of the Board of
Directors of the Company,
Paul Pedersen,
CEO
About BevCanna
Enterprises
BevCanna Enterprises Inc. (CSE:BEV) develops and manufactures cannabinoid-infused
beverages and consumer products for in-house brands and white label
clients. With decades of experience creating, branding and
distributing iconic brands that have resonated with consumers on a
global scale, the team demonstrates an expertise unmatched in the
emerging cannabis beverage category. Based in British
Columbia, Canada, BevCanna has a 100-acre outdoor cultivation site
in the fertile Okanagan Valley and the exclusive rights to a
pristine spring water aquifer, as well as a world-class
40,000-square-foot, HACCP certified manufacturing facility, with a
current bottling capacity of up to 72M bottles per
shift/per annum.
About Nextleaf
Solutions
Nextleaf Solutions Ltd.
("OILS") is the first publicly traded company to
be issued a U.S. patent for the industrial-scale extraction and
purification of cannabinoids. OILS 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)
Contact:
Adel Fares, Investor
Relations
604-283-2301 (ext. 201)
investors@nextleafsolutions.com
For more information
visit www.nextleafsolutions.com or follow OILS across
social media platforms: Twitter, LinkedIn,
Facebook, Instagram and YouTube.
CAUTIONARY STATEMENT:
The securities described herein, if any, have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities
laws, and may not be offered or sold within the United
States or to, or for the benefit of, U.S. persons (as defined
in Regulation S under the U.S. Securities Act) except in compliance
with the registration requirements of the U.S. Securities Act and
applicable state securities laws or pursuant to exemptions
therefrom. This release does not constitute an offer to sell or a
solicitation of an offer to buy of any of Nextleaf Solutions
securities in the United States. This news release may contain
"forward-looking information" as defined in applicable Canadian
securities legislation. All statements other than statements of
historical fact included in this release, including, without
limitation, future operating margins, future production and
processing, processing results, and future plans and objectives of
Nextleaf Solutions, constitute forward looking information that
involve various risks and uncertainties. Forward-looking
information is based on a number of factors and assumptions which
have been used to develop such information but which may prove to
be incorrect, including, but not limited to, assumptions in
connection with the continuance of Nextleaf Solutions and its
subsidiaries as a going concern, general economic and market
conditions, price of biomass, the accuracy of production resource
estimates, and the performance of Nextleaf Solutions future
operations. There can be no assurance that such information will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such forward-looking
information. Important factors that could cause actual results to
differ materially from Nextleaf Solutions' expectations include but
are not limited to: changes in economic conditions or financial
markets; increases in costs; litigation; legislative, environmental
and other judicial, regulatory, political and competitive
developments; and technological or operational difficulties. This
list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be
considered carefully, and readers should not place undue reliance
on such forward-looking information. For additional information
with respect to risk factors applicable to Nextleaf Solutions,
reference should be made to Nextleaf Solutions continuous
disclosure materials filed from time to time with securities
regulators, including, but not limited to, Nextleaf Solutions CSE
Listing Statement. The forward-looking information contained in
this release is made as of the date of this release. Nextleaf
Solutions does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required by applicable law. The CSE has not reviewed,
approved or disapproved the contents of this press
release.
SOURCE Nextleaf Solutions
Ltd.
