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Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", "OILS", or the "Company"), the world's most innovative cannabis processor, is pleased to announce the initial order of Nextleaf's Rapid Emulsion Technology by OILS™ ("Rapid") THC and CBD to cannabis-infused beverage manufacturer, BevCanna Enterprises Inc. ("BevCanna").
With this initial order, Nextleaf's Rapid concentrate becomes one of BevCanna's preferred ingredients, available for use in both their brands and their partner brands. Rapid is Nextleaf's patent pending delivery technology.
BevCanna develops and manufactures a range of cannabis-infused beverages for both in-house brands and white-label clients, and is the exclusive Canadian licensee for the award winning, #1 selling brand in the U.S., Keef Brands. Additionally, via its wholly-owned subsidiary Naturo Group's TRACE plant-based mineral beverages and supplements, BevCanna has a sales and distribution network of over 3,000 points of retail and online across Canada. The Company anticipates that in addition to BevCanna's licensed points of distribution, BevCanna will eventually distribute cannabinoid beverages through their existing traditional retail channels should Health Canada regulate the sale of CBD products under the new proposed Cannabis Health Product category.
"Nextleaf and BevCanna have a long-standing relationship, and our inaugural order of Rapid reflects nearly two years of working together," said Nextleaf Solutions CEO, Paul Pedersen. "With a predictable onset and offset time, Rapid Emulsion Technology by OILS™ provides a significant differentiator for BevCanna to develop a wide range of infused beverages."
Made with Nextleaf's high purity cannabis distillate, Rapid's unique structure and composition allows the final ingredient to achieve optical transparency with neutral characteristics ideal for formulating. Ten years of prior R&D has resulted in a patent pending emulsion technology adapted to cannabinoids, to deliver rapid onset of THC and CBD.
Rapid extends Nextleaf's capabilities along the value-added product spectrum. Complementing the Company's demonstrated excellence in efficiently producing high purity distillate, Rapid solves an industry need for cannabis-infused products with predictable and reliable outcomes.
BevCanna owns and operates one of the highest-capacity cannabis beverage manufacturing facilities in Canada, located near Osoyoos, B.C., which was granted a Standard Processing Licence by Health Canada on February 12, 2021.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna's extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands.
About Nextleaf®
Nextleaf Solutions is an innovative cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, distillation, and delivery of cannabinoids. Through its wholly-owned subsidiary Nextleaf Labs Ltd, a licensed processor, the Company is a low-cost producer of cannabis distillate and private label THC & CBD oils. 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. The Company owns 12 U.S. patents and has been issued over 70 patents globally. Nextleaf is developing delivery technology through its Health Canada research licence with sensory evaluation of cannabis via human testing. The Company's patent pending Rapid Emulsion Technology by OILS™ powers differentiated ingestible cannabis products. Nextleaf is commercializing its issued and pending patents through licensing of intellectual property, extraction services, and supplying cannabis oils to qualified Canadian and international business-to-business partners under their own brand.
Nextleaf Solutions 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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For more information please contact:
Jason McBride
604-283-2301 (ext. 219)
investors@nextleafsolutions.com
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/76051
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