Nextleaf Solutions Announces Category Expansion, and Increased Distribution for Cannabis Softgels, Applauding Health Canada Recommendation to Expand Access to Medical Cannabis Through Pharmacies
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2024) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", "OILS", or the "Company"), a leading biotech firm and licensed cannabis processor, is pleased to announce a commercial update, including national category expansion with the launch of infused prerolls under their acclaimed brand Glacial Gold.
This announcement comes alongside increased distribution for their category leading Glacial Gold softgels, now with three potencies, available in 10-pack trial sizes, and large format 50-pack & 100-pack sizes nationally.
Additionally, Nextleaf applauds Health Canada's Expert Review Panel who recently released a report based on a review of the federal cannabis legislation, proposing expanded access to medical cannabis in-person at pharmacies. Glacial Gold softgels offer a convenient, consistent, discreet method of consumption with a range of high potency offerings including THC and/or CBD. These compelling attributes are sought by both medical patients and recreational adult-use consumers alike.
"We continue to diversify our product assortment and revenue streams through the national launch of our infused preroll offerings. This validates continued progress towards our vision to be the go-to brand for value and variety," shares Emma Andrews, Interim CEO of Nextleaf Solutions. "Our softgels offer unparalleled value, and the increased distribution allows Canadian's better access to affordable solutions to match their evolving consumption preferences. We are optimistic about this progress continuing with Health Canada's recent recommendations," continues Andrews.
Expanded distribution and listings for Glacial Gold's softgels includes their CBD 50 and Balanced 10:10 formulations, now available in their best value 100-pack formats across Ontario and Alberta. Additionally, CBD 50 and Balanced 10:10 formulations are now available in 10-pack trial size formats across BC for the first time.
National launch of Glacial Gold's MAX THC Double D Infused Prerolls includes two flagship flavours, Grape Escape and Cherry K.O. (Cherry Kola) in a 3 x 0.7g format. Featuring hang dried and hand trimmed whole flower, infused with distillate, diamonds, and rolled in kief delivering one of the highest potency infused prerolls available in the regulated Canadian adult use market, with up to 1000mg THC per 3-pack.
"We've been consistently operating double shifts at our Coquitlam processing facility to fulfill demand for our branded product portfolio, alongside our ingredient supply business" comments Andrews. "We're very motivated to continue building momentum and are excited to pair our category expansion and increased distribution announcements with a series of compelling brand activations in our third quarter," shares Andrews.
Nextleaf will be debuting a one-of-a-kind Glacial Gold brand experience at the consumer and retailer focused event 'KIND Gardens' in Vancouver BC April 11th. They will also be exhibiting as part of an innovative medical patient pavilion at the GrowUp Conference in Toronto May 27-29th 2024.
About Nextleaf Solutions Ltd.
Nextleaf? is an innovative cannabis processor with a portfolio of federally regulated emerging consumer brands, market validated cannabis derivative products, and high-purity and high-potency bulk ingredients. Nextleaf's multi-patented, highly automated, closed loop extraction and distillation technology sets the global standard for processing cannabis at-scale.
The Company currently manufactures over 80 different products, across 4 categories for white label clients and house brands. Formulated products and bulk ingredients are sold domestically to B2B partners and exported to applicable international jurisdictions.
With coast-to-coast distribution, Nextleaf brands are sold through both medical and recreational channels and includes award-winning legacy-era brand Glacial Gold, offering unparalleled value across multiple formats including high purity and high potency vapes, oils, softgels and infused prerolls. Additionally, newly launched house brand High Plains offers a broader assortment of cannabinoids and plant compounds, reaching additional market segments.
Nextleaf's commitment to constant innovation, and speed-to-market advantage is guided by their team's unique depth of industry experience, complimented by their Health Canada Research License allowing for unique sensory evaluation of cannabis via human trials, and rapid prototyping. The Company has been issued 19 U.S. patents, and 75+ patents globally, on cannabinoid processing including extraction, distillation, and acetylation.
On behalf of the Board of Directors of the Company, Emma Andrews, Interim CEO
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the Company's anticipated delivery of its products to provincial markets across Canada and those regarding 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 Canadian Securities Exchange has not reviewed or approved the contents of this press release.
