Nextleaf Solutions Announces Issuance of Three Patents for Cannabis Extraction
Sep 18, 2019, 08:40 ET
Latest awards bring Nextleaf's intellectual property portfolio to a total of eight (8) issued patents related to the extraction, refinement and purification of cannabinoids
VANCOUVER, Sept. 18, 2019 /PRNewswire/ - Nextleaf Solutions Ltd. ("Nextleaf", "OILS", or the "Company") (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) is pleased to announce the United States Patent and Trademark Office has granted the Company its fifth U.S patent pertaining to Nextleaf's proprietary process of industrial-scale extraction, refinement, and purification of cannabinoids.
The latest U.S. patent relates to post-extraction processing which includes filtration, novel decarboxylation methodologies, and the targeted removal of pigments – all of which create greater efficiencies and higher throughput rates. The resulting cannabinoid distillate oil is tasteless, odourless, highly purified, and ready to formulate into a variety of standardized THC and CBD infused products.
The Company also received news of two patents issued from the Canadian Intellectual Property Office as well as from Intellectual Property Australia. These patents echo the precedent set by the United States Patent and Trademark Office validating Nextleaf's industrial-scale extraction and post-extraction processing technology.
"As we've seen with transactions like Canopy Growth Corp's US$330 million acquisition of Ebbu Inc. and its portfolio of pending patents, there is significant shareholder value creation through the formalization and protection of intellectual property," said Paul Pedersen, Nextleaf Solutions CEO. "The difficulties cannabis companies have faced in turning intellectual property into patents point to a broader issue in the industry, where many companies tout their intellectual property, but few have successfully obtained exclusive rights to their inventions. Nextleaf being granted eight patents by three international patent offices in key markets such as Canada, Australia, and the United States validates our technology and further reinforces our vision to develop disruptive intellectual property for industrial-scale extraction, purification and formulation of cannabinoids."
The OILS team remains focused on expanding its IP portfolio by developing and acquiring the industry's most advanced, efficient, and scalable cannabis processing solutions, and positioning Nextleaf as the preeminent cannabinoid extraction technology company. By applying its IP, Nextleaf has the potential to vastly reduce the cost of CBD and THC oil production,
About Nextleaf Solutions
Nextleaf Solutions Ltd. ("OILS") is developing disruptive intellectual property for industrial-scale extraction, purification and formulation of cannabinoids. OILS owns a portfolio of eight (8) issued and 24 pending patents pertaining to the production of high-purity, cannabinoid rich distillate, the key ingredient used in the manufacturing of standardized THC and CBD infused products. The Company plans to commercialize its intellectual property portfolio through IP licensing and B2B processing services once cannabis concentrates become legal across Canada on October 17, 2019.
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.
Contact:
Adel Fares, Investor Relations
604-283-2301 (ext. 201)
[email protected]
For more information visit www.nextleafsolutions.com or follow OILS across social media platforms: Twitter, LinkedIn, Facebook, Instagram and YouTube.
CAUTIONARY STATEMENT:
The securities described herein, if any, have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of Nextleaf securities in the United States. This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact included in this release, including, without limitation, future operating margins, future production and processing, processing results, and future plans and objectives of Nextleaf, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Nextleaf and its subsidiaries as a going concern, general economic and market conditions, price of biomass, the accuracy of production resource estimates, and the performance of Nextleaf future operations. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from Nextleaf's expectations include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. For additional information with respect to risk factors applicable to Nextleaf, reference should be made to Nextleaf continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, Nextleaf CSE Listing Statement. The forward-looking information contained in this release is made as of the date of this release. Nextleaf does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. The CSE has not reviewed, approved or disapproved the contents of this press release.
SOURCE Nextleaf Solutions Ltd.
