Vancouver, British Columbia--(Newsfile Corp. - July 12, 2022) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf" or the "Company"), a federally regulated manufacturer and distributor of cannabis extracts including vapes and oils, is pleased to announce the launch of its new CBD 3:1 vape under the award-winning prohibition-era brand, Glacial Gold™.
The Company's technology stack enables the transformation of industrial hemp biomass into CBD distillate purified to be free of wax, chlorophyll, and residual pesticides.
Glacial Gold™ CBD 3:1 Vape is launching as a 1-gram format in the Company's signature Berry Lemonade flavour, reminiscent of fresh-picked berries from the Fraser Valley. The new CBD 3:1 Vape will build off the success of the Glacial Gold™ Session THC Vape and Anytime 1:1 Vape by offering an additional tier of potency at the accessible price point and quality the legacy brand is known for.
The Company expects the Glacial Gold™ CBD 3:1 Vape to be available first in the British Columbia market this summer, and nationally through medical cannabis distribution partners. The British Columbia Liquor Distribution Branch ("BCLDB") is responsible for the wholesale distribution of cannabis to private retailers in British Columbia and is the public retailer of cannabis throughout the province under the brand 'BC Cannabis Stores'.
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"We are excited to build on the legacy of the Glacial Gold brand with our new vape product that fills a gap for consumers looking for a CBD vape that doesn't crystalize and clog like many of the vapes on the market," said Nextleaf Co-Founder and CEO Paul Pedersen. "With Nextleaf's multi-patented extraction and distillation technology, we are able to control the quality and price of cannabinoid ingredients and position the Glacial Gold brand as a price-point value leader in all distillate focused product categories."
Glacial Gold™ CBD products are manufactured using Canadian hemp flower processed at Nextleaf Labs in Greater Vancouver, B.C. Additionally, all Glacial Gold™ products are developed through the Company's extensive sensory evaluation program as covered in Forbes.
Nextleaf sets monthly record for kilos sold to licensed manufacturing partners
During the month of June 2022, Nextleaf sold more than 100 kilograms of high-purity distilled THC and CBD ingredients to long-term and new partners. The Company onboarded five new partners during the month. Cannabis distillate produced by Nextleaf's ingredient processing technology will power more than 15 brands throughout the Canadian market this summer.
As producers throughout the industry right-size and look for additional efficiencies in their business, many are choosing to outsource their extraction and distillate supply.
About Nextleaf Solutions Ltd.
Nextleaf® is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning prohibition-era brand, Glacial Gold™. The Company's multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale. Nextleaf is a low-cost producer of cannabis oils, and supplier of THC and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial extraction and purification of cannabinoids. The Company has been issued 18 U.S. patents, and over 95 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops cannabinoid-based formulations and delivery technology through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. For more information visit www.nextleafsolutions.com and www.Glacial.Gold
Nextleaf 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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Jason McBride, Corporate Development
604-283-2301 (ext. 219)
On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the Company's anticipated delivery of its products to provincial markets across Canada and those regarding 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 Canadian Securities Exchange has not reviewed or approved the contents of this press release.