Vancouver, BC --
September 11, 2019 -- InvestorsHub NewsWire -- Nextleaf
Solutions Ltd. ("Nextleaf Solutions",
"OILS", or the "Company")
(CSE: OILS)
(OTCQB: OILFF) (FSE:
L0MA) announced today that Nextleaf Labs Ltd.
("Nextleaf Labs" or "Labs"), 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.
About Nextleaf
Solutions
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. Nextleaf
Solutions trades as OILS on the Canadian Securities
Exchange (CSE: OILS), OILFF on the OTCQB
in the United States (OTCB: OILFFQ) and L0MA on
the Frankfurt Stock Exchange (FSE: L0MA).
On Behalf of the Board of
Directors of the Company,
Paul Pedersen, Co-Founder
& CEO
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:
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 and enter into agreements with third
parties, expected market growth, 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.
