Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) ("Nextleaf", "OILS", or the "Company"), an extraction company that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, is pleased to announce that it has signed a supply agreement with the British Columbia Liquor Distribution Branch ("BCLDB") for the sale and distribution of Nextleaf's cannabis oils and branded products under its award-winning prohibition-era brand, Glacial GoldTM.
The BCLDB is responsible for the wholesale distribution of non-medical cannabis to private retailers in British Columbia and is the public retailer of cannabis throughout the province under the brand 'BC Cannabis Stores'.
Under the Supply Agreement, the Company's wholly-owned subsidiary Nextleaf Labs Ltd. ("Nextleaf Labs") will supply the BCLDB with large format THC and CBD ingestible oils, and vape cartridges produced at the Company's Health Canada licensed cannabis processing facility in Greater Vancouver.
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In May 2021, Nextleaf acquired all rights associated with the Glacial GoldTMprohibition-era brand. The Company leveraged its extensive IP portfolio, experienced team of researchers, formulators, and marketers - many of whom have been intimately familiar with Glacial GoldTM since its inception in 2015 - to successfully relaunch the brand. Nextleaf Labs holds a Health Canada Research Licence that enabled the Company to conduct human trials during product development to ensure a desirable consumption experience and quality standard that are intrinsic to the brand.
"With valued partners here in B.C. supplying input biomass, and direct access to high-efficiency ingredient processing technology through Nextleaf Labs, the Glacial GoldTMbrand is well positioned to be a value leader in all distillate product categories including vape and oils. We are excited to re-launch Glacial GoldTM, an authentic B.C. brand, in our home province, and honour the legacy and reputation it's known for across Canada," said Nextleaf Chief Executive Officer, Paul Pedersen.
Leading Nextleaf's commercial strategy and entry into branded consumer products is Emma Andrews, a seasoned professional with over a decade of experience building global lifestyle brands and launching consumer packaged goods ("CPG") with category leaders such as Vega, a B.C. based innovator in plant-based nutrition.
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"Our strategy is built firmly on a commitment to providing unparalleled value and accessibility. Having been part of the Nextleaf team as we built our wholesale business through our commercial partners program and scaled-up our processing technology, I've gained invaluable insight into data that will allow for differentiation through transparent education, an accessible product assortment, and defining quality based on what matters most, the consumption experience," said Andrews. "It's truly a privilege to build on such a strong foundation and expand our operations into consumer products, starting with a dedicated focus in our own backyard."
To support upcoming distribution, Glacial GoldTM has undergone a brand identity refresh and relaunched the glacial.gold website to transition from the prohibition-era into the legal, adult-use cannabis market regulated under the Cannabis Act.
Nextleaf is an innovative cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, distillation, and delivery of cannabinoids. Nextleaf supplies cannabis oils 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 through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The Company owns 15 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.
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