Nextleaf Awarded U.S. Patent for Technology that Maximizes Cannabinoid Yield and Reduces Waste (CSE:OILS) (OTCQB:OILFF)

Nextleaf owns one of the largest collections of U.S. patents among all cannabis companies, as well as a Greater Vancouver-based extraction plant producing low-cost cannabinoid ingredients under its Health Canada licences. Nextleaf’s multi-patented automated extraction plant up-cycles aged cannabis flower and biomass, which would otherwise be destroyed, into high-purity cannabinoid ingredients at industrial scale.

Nextleaf’s intellectual property (“IP”) includes 18 U.S. patents and over 95 issued patents globally on cannabinoid processing including extraction, distillation, and acetylation. With this latest issued patent, Nextleaf has a success rate above 95% for pending application to issued patents. The average success rate of pending to issued patents in the pharmaceutical industry is 42.8%.[3]

“Given the U.S. House of Representatives passing the MORE Act – a bill that would end the federal prohibition on cannabis – and the need for the U.S. Government to address the opioid epidemic, we believe cannabis legalization will become a reality in the United States in the near term. With a U.S. patent stack protecting what we believe to be the most efficient methods of producing distilled THC and CBD in a regulated market, Nextleaf is well positioned to benefit from U.S. legalization,” said Nextleaf CEO Paul Pedersen.

Executive Officer Update

Nextleaf announces a recent update to its leadership structure with the transition of Ryan Ko, Chief Technology Officer of Nextleaf Solutions Ltd., from his executive officer role to serve as Nextleaf’s Vice President of Innovation & Technology. The change is effective as of April 5^th, 2022. A co-founder of Nextleaf, Mr. Ko has authored over 80 global patents and will remain as the key driver of Nextleaf’s innovation & IP commercialization strategy.

[1] https://www.alliedmarketresearch.com/activated-carbon-market

[2] https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/

[3] Yale Journal of Law and Technology, 2015

About Nextleaf®

Nextleaf is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning prohibition-era brand, Glacial Gold™. The Company’s multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale. Nextleaf is a low-cost producer of cannabis oils, and supplies THC and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial extraction and purification of cannabinoids. The Company has been issued 17 U.S. patents, and over 90 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops proprietary cannabinoid-based formulations and delivery technology through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. For more information visit www.nextleafsolutions.com and www.Glacial.Gold

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, Corporate Development
604-283-2301 (ext. 219)
jason@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.