Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (ESF: L0MA) (“Nextleaf”, “OILS” or “Company”), a federally regulated cannabis oil producer that owns one of the largest portfolios of U.S. Patents for Cannabinoid Extraction and Distillation, is pleased to report that its wholly owned subsidiary Nextleaf Labs Ltd. (“Nextleaf Labs”) has received acceptance of its application for a Controlled Substances Distributor License (a “Distributor License”), now formally under review by Health Canada.
A distributor license will allow Nextleaf Labs to conduct a variety of psilocybin and psilocin-related activities, such as research and development (“R&D”), intellectual property development (“IP “), the production of basic substance materials, laboratory analysis, as well as the sale and distribution of psychedelic compounds to authorized persons (or their compound pharmacies), researchers and companies conducting clinical trials, each retaining the appropriate approvals for such possession and use. Health Canada aims for a processing service standard of 270 calendar days from the date of receipt of an application for a distributor license.
With a full lab already operating under its existing Health Canada cannabis licenses, Nextleaf’s current site will expand its IP extraction and development capabilities for psilocybin and other psychedelic materials after a license is issued. of Health Canada Distributor.
Nextleaf’s existing IP stack, the development of its special molecule division, and the receipt of a distributor license will allow the company to develop a set of standardized, naturally-derived prodrugs ranging from acetylated cannabinoids to psilocybin. This can introduce new revenue generators through short- and long-term partnership opportunities with other industry stakeholders.
Nextleaf holds 17 U.S. patents and 95 patents have been issued worldwide. The company continues to bolster its strong intellectual property portfolio, pursuing federally regulated production of new psychoactive products, as large multinational pharmaceutical companies enter the space.
“With our company’s unprecedented track record of securing U.S. patents issued for cannabinoid extraction, Nextleaf is well positioned to reflect this success with psilocybin extraction,” said Paul Pedersen, co-founder and CEO of Nextleaf. “We anticipate that a distributor license will be an important catalyst for Nextleaf’s specialized molecule division, which focuses on the development and commercialization of new psychoactive compounds for their potential therapeutic benefits.”
Dr. Sherry Boodram, co-founder and CEO of CannDelta
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Nextleaf hired CannDelta Inc. (“CannDelta”) with respect to your application for a reseller license. Dra. Sherry Boodram is the co-founder and CEO of CannDelta, which includes PsyDelta, a dedicated psychedelic service. Before founding CannDelta, Dr. Boodram spent several years in the Canadian federal government, most notably with the Medical Cannabis Program and Health Canada’s Controlled Substances Program as a senior compliance and compliance officer. He was responsible for reviews of license applications and on-site inspections of facilities under the medical regulations of the Medical Marijuana Regulation (MMPR), the Medical Cannabis Access Regulation (ACMPR). ) and the Drugs and Controlled Substances Act. Dr. Boodram has a PhD. in Chemistry from York University, a B.Sc. (Hon) of the University of Toronto, a certificate in cannabis law and regulation from York University’s Osgoode Hall Law School and a postgraduate certificate with honors in pharmaceutical regulatory affairs and quality operations from Seneca College. Dr. Boodram is also an elected member of the board of the Canadian Association of Regulatory Professionals (CAPRA).
As a leading expert on cannabis and psychedelic science and regulation, Dr. Boodram, hosted a distinguished debate with other experts, titled “Developing Psychedelic Medicine Beyond What We Already Know” at the world’s largest psychedelic business conference, Wonderland Miami Conference, in November. 8-9, 2021.
Dr. Sherry Boodram has been a member of Nextleaf’s independent board since October 2019.
Medical access and therapeutic relief for veterans
The veteran community has made it clear that they need and deserve a reliable supply of consistently quality, psychedelic medical cannabis products for those living with PTSD, chronic pain, and other conditions that disproportionately affect veterans. According to a 2019 veterans health and medical cannabis study[1], 96% of veterans reported experiencing a much higher quality of life due to their cannabis use. As part of the company’s commitment to improving access to medical cannabis and psychoactive compounds for therapeutic benefits, Nextleaf has launched an assortment of affordable medical cannabis products that fit the needs of the veteran community. . This includes large format distilled oils with the best dollar value per milligram of CBD in Canada, the most potent CBD oil legally available in Canada, as well as CBD and THC vapors under the Glacial Gold brand ™ . These products will soon be distributed nationwide through www.mendocannabis.ca.
The CEO of Nextleaf will present at 2021 Lift & Co. Cannabis Business Conference
Nextleaf will participate in the Lift & Co 2021. Expo at the Toronto Metro Convention in Toronto from November 18-21. The event will consist of more than 200 exhibitors, including publicly traded cannabis and psychedelic companies, and will feature relevant panels and keynote speakers in both the cannabis and psychedelic space.
Nextleaf CEO Paul Pedersen will speak at a roundtable featuring Weedmaps CEO (NASDAQ: MAPS) Chris Beals, entitled “Auxiliary Industries: Background Wisdom and Warnings from Auxiliary Industry Leaders” at 4 p.m. : 15 ET on November 18th. For more information about the event, visit https://liftexpo.ca/.
About Nextleaf®
Nextleaf is a federally regulated cannabis oil producer that owns one of the largest U.S. patent portfolios for cannabinoid extraction and distillation. Nextleaf distributes cannabis vapors and distilled oils under its award-winning Prohibition-era brand, Glacial Gold ™, and supplies cannabis distillate to its wholesale customers. Nextleaf’s patented closed-loop automated extraction plant at Metro Vancouver efficiently transforms cannabis and hemp grown in BC and across Canada into industrial-scale high-purity cannabis distillates. Nextleaf is developing patented delivery technology and formulations through its Health Canada research license with sensory evaluation of cannabis using human testing. The company holds 17 US patents and 95 have been issued worldwide.
Nextleaf Solutions is listed as OILS on the Canadian Stock Exchange, OILFF on the OTCQB Market in the United States and L0MA on the Frankfurt Stock Exchange.
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www.nextleafsolutions.com
Follow Glacial Gold ™ on social platforms: Instagram, Twitter and Facebook. www.Glacial.Gold
For more information contact:
Jason McBride, Corporate Development
604-283-2301 (ext. 219)
jason@nextleafsolutions.com
On behalf of the Company’s Board of Directors,
Paul Pedersen, CEO
Some statements contained in this press release constitute “forward-looking statements.” All statements other than statements of historical facts contained in this press release, including, without limitation, those related to the company’s ability to capitalize its intellectual property portfolio, the receipt of the distributor license within of the planned period of time or, at all, the activities that the company expects to conduct if the distributor license, the company’s ability to develop and protect intellectual property related to psychedelics, the expected benefits for the if the distributor license is received, the distributor license helping the company to obtain a unique position for the company to develop a set of standardized plant-derived drugs, strategy, plans, goals, objectives and the company’s objectives, and any statement preceded by, followed by or including the words “believe”, “expect”, “objective”, “attempt”, “plan”, “continue” nuar ”,“ is wanted ”,“ could ”,“ anticipate ”,“ estimate ”,“ forecast ”,“ predict ”,“ project ”,“ seek ”,“ should ”or similar expressions or their negative, are statements prospective. These statements are not historical facts but represent only the Company’s expectations, estimates and projections of 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 anticipated in these forward-looking statements. Additional factors that could cause actual results, performance or achievement to differ materially include, but are not limited to, risk factors that have been analyzed in the company’s MD&A for the most recent fiscal year. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and warns investors not to unduly rely on forward-looking information. Accordingly, all forward-looking statements made in this press release are qualified by such disclaimers and other disclaimer statements or factors included therein, and there can be no assurance that actual results or developments will be made or, even if they are performed substantially. , which will have the expected consequences 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 where applicable. that the law requires. The CSE has not reviewed or approved the content of this press release.
