Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) ("Nextleaf", "OILS", or the "Company"), a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, is pleased to announce that its wholly-owned subsidiary Nextleaf Labs Ltd. ("Nextleaf Labs") has shipped a reorder of Glacial Gold™ CBD and THC products to the British Columbia Liquor Distribution Branch ("LDB"), the sole wholesale distributor of non-medical cannabis in British Columbia.
The LDB quickly sold out of Glacial Gold™ products, with a reorder for all seven SKUs within 48 hours of the first products landing.
"We are grateful for the support shown by retailers and adult-use consumers for the re-launch of Glacial Gold™," said Paul Pedersen, co-founder and CEO at Nextleaf. "We are excited about the opportunity to validate Nextleaf's patented high-efficiency ingredient processing technology by offering consumers better value compared to competing vape and oil products."
The Glacial Gold™ brand is being positioned as a price-point and value leader in the vape and distilled oils categories and can be purchased through local B.C. retailers and online through the LDB at its B.C. Cannabis Store website.
To view an enhanced version of this graphic, please visit:
"The initial response to the launch of Glacial Gold™ products from retailers and consumers in our B.C. backyard has been extremely encouraging," said Emma Andrews, Director of Marketing at Nextleaf. "Glacial Gold's reputation in B.C. and nationally is being affirmed through early feedback and metrics, and we are excited to restock retailers and consumers with high-quality products at accessible prices. We're clear on our commitment to honour the roots of the brand through unparalleled value."
Nextleaf Receives Authorization for Sales in the Province of Saskatchewan
Nextleaf is pleased to announce the Saskatchewan Liquor and Gaming Authority, the provincial regulator responsible for permitting and monitoring the operation of local cannabis wholesalers and retailers in Saskatchewan, has authorized the Company to supply Glacial Gold™ CBD and THC products directly to the province's retail and wholesale markets.
The model in Saskatchewan is unique as it allows for both the sale and distribution of cannabis products by the private sector. Consumers in the province can look forward to the launch of Glacial Gold™ as a price-point and value leader in distillate-focused product categories.
Glacial Gold™ distillate is produced through the Company's patented, automated closed-loop, chilled-alcohol extraction plant at Nextleaf Labs, a Health Canada licensed processing facility. Nextleaf's proprietary technology efficiently transforms cannabis and hemp grown in B.C. and throughout Canada into high-purity cannabis distillate at an industrial scale.
Nextleaf is a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids. Nextleaf supplies cannabis ingredients to its wholesale customers and distributes consumer products under its award-winning prohibition-era brand, Glacial Gold™. Nextleaf's proprietary closed-loop automated extraction plant in Metro Vancouver has a design capacity to process 600 kilos of dried cannabis into oil per day. Nextleaf is developing delivery technology and differentiated cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The Company owns 16 U.S. patents and has been issued over 80 patents globally.
For more information please contact:
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". 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,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 or approved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97137