A letter from our CEO:
On behalf of Nextleaf Solutions Ltd. (the “Company”), I would like to provide our investors and community with an update on our operations and the measures we have taken in response to the current COVID-19 global pandemic.
First and foremost, the health and safety of our staff and partners is of the utmost importance to our Company. Our lean operation, with a small but focused and specialized team, has moved swiftly and efficiently on many measures to keep our Company clean, safe, and open for business.
Since January we have taken a number of proactive measures to preserve and maximize working capital. Capital preservation methods have included eliminating and deferring expenses not directly related to our core operations and a significant deferral of management compensation. Simultaneously, IP licensing revenue will continue to support the Company by driving positive cash inflows. We are committed to managing working capital and will adjust our plan as necessary throughout as current events develop. We believe that our proactive approach will allow us to continue to safely advance our Company and achieve our operational goals.
We have taken significant measures in our operational preparation and response to the novel Coronavirus pandemic. We have increased the frequency of sanitation at the Nextleaf facility to limit the potential of infection and contamination. As a means of taking social distancing measures, the facility is now limited to only core operational staff members on site while all other staff are working remotely. Additionally, all corporate travel has been suspended, and adherence to a two-week minimum quarantine has been put in place for any staff members that have traveled.
Although there has already been a significant economic effect on the markets, we have many reasons to be encouraged. In uncertain times, the importance of strong businesses and entrepreneurs becomes increasingly important. We remain completely committed to building value for our shareholders by operating and executing with a lean and hyper focused team, scaling our extraction plant to capacity, and making progress towards our revenue, profitability, and technology development initiatives. Thank you for your continued support and stay safe.
CEO and Director
Nextleaf Solutions Ltd.
Investor Relations Contact Information:
604-283-2301 (ext. 219)