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Nextleaf Solutions, a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, has signed a wholesale and distribution agreement with National Cannabis Distribution Inc. (“NCD”), a wholly-owned subsidiary of Kiaro Holdings Corp. (TSXV:KO) (“Kiaro“), for wholesale distribution and supply of Glacial Gold™ in the Province of Saskatchewan.
Under the terms of the Wholesale Agreement, NCD will act as the exclusive provincial wholesaler and distributor of Glacial Gold™ branded CBD and THC products in Saskatchewan for an initial period of two years.
“The Saskatchewan model is unique and our partnership with NCD and Kiaro allows Glacial Gold to be distributed in two-thirds of the cannabis retailers in that provincial market,” said Nextleaf CEO and co-founder Paul Pedersen. “Since the launch of Glacial Gold vapes and distilled oils in September, we have received nation-wide interest from cannabis retailers and consumers that enthusiastically recognize our brand from its prohibition days and are eager to consume it once again. We are delighted to partner with NCD to bring Glacial Gold CBD and THC products to loyal consumers in Saskatchewan with affinity for the brand, as well as expand our reach to new consumers looking for accessibly priced extracts.”
“We are excited to partner with Nextleaf to bring high quality products like Glacial Gold vapes and distilled oils to the Saskatchewan market,” said Brent McFadzen, General Manager of NCD.
“NCD is very pleased to be working with a first-class producer such as Nextleaf to further expand our product range in Saskatchewan and continue to introduce high quality Canadian cannabis brands to the market,” added Kiaro CEO Daniel Petrov.
Monthly recreational cannabis sales in Saskatchewan reached $13.4 million in August 2021.
Nextleaf launched its award-winning, prohibition-era brand Glacial Gold™ in British Columbia last month, receiving national attention for quality products at disruptive price points. Included in the initial launch of Glacial Gold™ were seven total SKUs, consisting of four 1-gram cannabis vapes and three distilled oils.
Glacial Gold™ Distilled CBD 50 Oil features high-purity distillate in a base of organic coconut MCT oil for a premium consumption experience, without premium pricing. A clean tasting and neutral oil allows for the greatest flexibility in use and consumption occasions. Glacial Gold™ has quickly become one of the top selling brands of CBD oil in British Columbia.
The initial vape lineup from Glacial Gold™ is offered in two potency levels to match the consumer’s tolerance level or consumption occasion. The Session THC Vape features a full potency THC profile for cannabis enthusiasts who seek a more elevated experience and connection. The Anytime 1:1 Vape is formulated with a balanced THC and CBD profile for consumers looking for a more moderate, go-to vape. The Glacial Gold™ Anytime Vape is currently the top value CBD 1:1 vape cart in B.C.
About National Cannabis Distribution Inc.
National Cannabis Distribution Inc. (NCD) is a division of Kiaro Holding Corp. (TSXV:KO) and is a leading wholesaler in the province of Saskatchewan, the only vertically integrated province in the Canadian cannabis market. NCD distributes to over two-thirds of the market share in Saskatchewan and continues to build a solid portfolio of products with a commitment to providing craft, artisan, and boutique licensed producers a proven path to market within Saskatchewan. With multiple exclusive distribution partnerships in Saskatchewan and strategic feature planning, NCD has positioned itself as a leader within the cannabis supply community.
About Kiaro Holdings Corp.
Based in Vancouver, British Columbia, Kiaro is an independent, omni-channel cannabis retailer and distributor. Through existing storefronts across British Columbia, Saskatchewan, and Ontario, and with the completion of the recent acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro has 16 stores in operation and another two expected in early 2022. This is in addition to its wholesale distribution division servicing Saskatchewan, and ecommerce sites in Canada, the US and Australia. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 70 years of collective retail and wholesale focused experience, Kiaro’s leadership team has a proven track record of executing on acquisitions and financings, and moreover growing brands across North America. The Company plans to continue its growth trajectory through its consumer-centric retail, ecommerce, and wholesale distribution segments over the coming years.
Nextleaf is a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids. Nextleaf distributes cannabis vapes and distilled oils under its award-winning prohibition-era brand, Glacial Gold™, and supplies cannabis distillate to its wholesale customers. Nextleaf’s proprietary closed-loop automated extraction plant in Metro Vancouver efficiently transforms cannabis and hemp grown in B.C. and throughout Canada into high-purity cannabis distillate at an industrial scale. Nextleaf is developing delivery technology and differentiated cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The Company owns 17 U.S. patents and has been issued 95 patents globally.
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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