Nextleaf Solutions Granted Canadian Patent for Industrial-Scale Extraction of CBD and THC
The Company's now 13 issued patents protect what management believes to be the most efficient methods for producing distilled THC and CBD oils at scale.
VANCOUVER, Feb. 19, 2020 /CNW/ - Nextleaf Solutions Ltd. ("Nextleaf", "OILS", or the "Company") (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), Canada's most innovative cannabis extractor, announced today that the Canadian Intellectual Property Office has granted the Company its 13th issued patent. This patent pertains to a proprietary closed loop chilled solvent feed apparatus for cannabinoid extraction, and mirrors a patent previously granted by the United States Patent and Trademark Office on November 19, 2019.
"When Nextleaf obtained the first patent for the industrial-scale extraction and purification of cannabinoids," said Taran Grey, Director of Intellectual Property, "it broadcast our teams' demonstrable talent for innovation. To provide greater certainty of that talent, we have now repeated the accomplishment a dozen more times in four jurisdictions, with further patents expected to be granted shortly."
In an environment where Life Science patent applications have a pending to issuance success rate of less than 50%, Nextleaf's 100% success rate is unparalleled.
OILS is focused on commercializing its patent portfolio by licensing IP to partners operating in other legal markets, and supplying THC and CBD oils to qualified partners through Nextleaf Labs Ltd., a Health Canada licensed Standard Processor. The Company commenced revenue in December 2019.
Nextleaf Solutions to Present at the Third Annual Gravitas Growth Conference
OILS will be participating in the 3rd Annual Gravitas Growth Conference taking place February 20th, 2020 at the Fairmont Pacific Rim Hotel in Vancouver, BC.
Nextleaf CEO, Paul Pedersen, is scheduled to present on Thursday, February 20th at 2:35 PM PST. "I look forward to sharing our plans for 2020 at the Gravitas Growth Conference" said Pedersen.
The Gravitas Growth Conference features 18 companies and is expected to be attended by over 250 individuals. For additional details about the conference and Gravitas Securities Inc., please visit: www.gravitassecurities.com.
About Nextleaf Solutions
OILS is developing disruptive intellectual property for extraction, purification, and formulation of cannabinoids. The Company owns a portfolio of 13 issued patents pertaining to the industrial-scale production of high-purity, cannabinoid-rich distillate, the key ingredient used in the manufacturing of standardized THC and CBD based products. Nextleaf Solutions commercializes its intellectual property portfolio through IP licensing, and supplying THC and CBD oils through Nextleaf Labs, a Health Canada licensed Standard Processor.
Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.
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www.nextleafsolutions.com
For further information, please contact:
604-283-2301 (ext. 201)
[email protected]
On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO
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.
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