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Nextleaf Solutions Buys Water-Soluble Technology

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Nextleaf Solutions Buys Water-Soluble Technology

Nextleaf Solutions Ltd (CSE: OILS) (OTC: OILFF) (FSE:L0MA) said Monday it has signed an agreement to acquire intellectual property of water-soluble cannabinoid formulations.

The technology relies on Health Canada approved food grade emulsifiers, the company said. These water-soluble cannabinoids are known for fast onset and being shelf stable.

"This nanotechnology increases onset time from over 90 minutes to less than 10 minutes when consuming cannabinoids in a beverage. We believe this represents a quantum leap for the industry, as fast onset is a pre-requisite for mass market acceptance of THC and CBD infused drinks," said Paul Pedersen, CEO of Nextleaf Solutions.

The Future Of Nextleaf

Ryan Ko, Chief Technology Officer of Nextleaf Solutions also commented on the intellectual property.

"This is a cannabis specific innovation built on proven and validated food and beverage technology.The technology and formulation allow for versatile application into hot or cold liquids, semi-solid, or solid mediums. Homogeneity is crucial for a reliable consumer experience so that every bite or sip delivers a consistent amount of cannabinoids," he said.

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The company has provided BevCanna Enterprises Inc. (CSE: BEV) with a license for the use of this intellectual property related to water-soluble cannabinoids for the production of BevCanna products, according to the press release. Nextleaf already has an agreement with BevCanna to supply it with cannabinoids.

The Deal

Per the agreement, upon each of the two milestones achieved, Nextleaf will compensate the developer. For the first milestone, the company shall pay $100,000 in and $100,000 via the issuance of its shares. For the second milestone, Nextleaf shall pay the developer an extra $65,000 in cash and $300,000 through the issuance of shares.

Posted-In: Cannabis M&A News Markets

 

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