Facebook-f Instagram Twitter Linkedin-in Youtube

Nextleaf Solutions Announces Completion of Acquisition of Licensed Processor (CSE:OILS) (OTCQB:OILFF)

  • July 30, 2020

Home / Press Releases / Nextleaf Solutions Announces Completion of Acquisition of Licensed Processor (CSE:OILS) (OTCQB:OILFF)

Nextleaf Solutions Ltd. Canada’s most innovative cannabis extractor, is pleased to announce that it has completed the previously announced acquisition of all of the issued and outstanding shares of Nextleaf Labs Ltd. (“Nextleaf Labs” or “Labs“), a Company that holds Health Canada standard processing and research licenses under the Cannabis Act (the “Acquisition“).

The closing of the Acquisition represents an important milestone for the Company, allowing OILS to continue the commercialization of its intellectual property (“IP“) portfolio through the production and wholesale of THC and CBD based oils and concentrates by Labs. The Company owns a portfolio of 40 issued patents and over 60 pending patents for the extraction, purification, and formulation of cannabinoids. 

As consideration for the Acquisition, Nextleaf issued 1,000,000 common shares (the “Shares“) to the sole shareholder of Labs (the “Seller“) at a deemed price of $0.385 per share for aggregate consideration of $385,000. 250,000 Shares were released to the Seller on closing, with the remaining 750,000 Shares subject to an escrow agreement providing for the release of such Shares in three equal tranches every six months. All Shares issued are subject to a four month and one day hold period in accordance with Canadian securities laws.

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.

For further information, please contact:
604-283-2301 (ext. 219)
investors@nextleafsolutions.com

On behalf of the Board of Directors of the Company,

Paul Pedersen, CEO

CAUTIONARY STATEMENT

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, approved or disapproved the contents of this press release.

Interested in investing in Nextleaf?

Exclusive access to monthly insights from Canada’s most innovative cannabis processor. Join over 7000+ subscribers world-wide!

sign up for updates

The Latest from OILS

Loading...
Cannabis, Chemistry, & Agrology: Why Professional Designations Matter Within The Cannabis Industry

Cannabis, Chemistry, & Agrology: Why Professional Designations Matter Within The Cannabis Industry

Professional designations and accreditation can be a meaningful and valuable way to differentiate the strength of the team behind a brand or company, and their ability to deliver operational excellence and quality.
Read Now
Loading...
THC-

Not All THC Analysis is Created Equal

Canada’s most innovative extraction company, Nextleaf Solutions (CSE: OILS | OTCQB: OILFF | FSE: L0MA) is developing technology for distilling THC and CBD oils used to formulate popular 2.0 products including vape pens, edibles and beverages
Read Now
Loading...
What Does Distillate Cost in Canada?

What Does Distillate Cost In Canada?

There is a combination of fixed and fluctuating factors that affect pricing. This is relevant context for cultivators looking to maximize the value of their harvest, and manufacturers looking to create competitive pricing in their portfolio of cannabis derivative products.
Read Now

Exclusive access to monthly insights from the world’s most innovative cannabis
processor. Join over 7000+ subscribers world-wide.

info@nextleafsolutions.com

  • Privacy
  • Cookie Policy
Menu
  • Privacy
  • Cookie Policy
Linkedin-in Facebook-f Instagram Twitter Youtube
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Read More
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
  • Our Story
    • Team
  • Brands
  • Extraction Tech
    • Rapid Emulsion Tech
  • Services
    • Toll Processing
    • Bulk Sales &
      Purchasing
    • Research &
      Product Development
  • Investor
    • Press Releases
    • Financial Filings
    • Investor Deck
  • Media
    • Insights
    • News
  • Contact
Menu
  • Our Story
    • Team
  • Brands
  • Extraction Tech
    • Rapid Emulsion Tech
  • Services
    • Toll Processing
    • Bulk Sales &
      Purchasing
    • Research &
      Product Development
  • Investor
    • Press Releases
    • Financial Filings
    • Investor Deck
  • Media
    • Insights
    • News
  • Contact
Menu
  • Our Story
    • Team
  • Brands
  • Extraction Tech
    • Rapid Emulsion Tech
  • Services
    • Toll Processing
    • Bulk Sales &
      Purchasing
    • Research &
      Product Development
  • Investor
    • Press Releases
    • Financial Filings
    • Investor Deck
  • Media
    • Insights
    • News
  • Contact
Facebook-f Instagram Twitter Linkedin-in Youtube

SIGN-UP NOW!

Exclusive access to monthly insights from the world’s most innovative cannabis processor. Join over 7000+ subscribers world-wide.
Unsubscribe at any time. Your email will not be shared or distributed. View our privacy policy.

Confirm Your Age

By selecting yes, I certify that I am of legal age in my jurisdiction to consume cannabis.

YES
YES
NO
Remember my answer

INVEST IN THE FUTURE OF CANNABIS

Please enter your email below to receive the Nextleaf Solutions Investor Kit.
Unsubscribe at any time. Your email will not be shared or distributed. View our privacy policy.