Nextleaf Solutions Reports Nextleaf Labs Has Obtained Health Canada's Standard Processing License

Nextleaf Solutions Ltd. OILS OILFF said Monday that Nextleaf Labs Ltd. has obtained Health Canada’s Standard Processing Licence that will allow it to commercialize its intellectual property portfolio via cannabis oils manufacturing.

The company’s portfolio contains four issued and 25 pending patents related to industrial-scale extraction and purification of cannabinoids.

“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, “ the company said.

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Upon obtaining the Health Canada Standard Processing Licence, Nextleaf Labs will start utilizing the company’s intellectual property portfolio to initiate B2B toll processing and white label manufacturing of cannabis oils and concentrates.

"Our vision is to develop technology to revolutionize extraction throughput, yield, and purity to enhance cannabis oil economics across the globe," Paul Pedersen, CEO of Nextleaf Solutions said in a statement. "We are beyond excited to begin commercializing OILS' intellectual property portfolio for industrial-scale extraction and purification of CBD and THC."

The stock traded at 52 cents on Monday morning.

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