Nextleaf Solutions Announces Market Expansion Through Wholesale Distribution Agreement for Manitoba and the Northern Territories, Alongside Robust Line-Up of National Product Launches in Spring 2024
Newsfile Corp.
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Vancouver, British Columbia--(Newsfile Corp. - February 9, 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 strategic wholesale distribution agreement with Lineage Distribution ("Lineage"), a licensed cannabis processor and distributor based in Niverville, Manitoba. This agreement signifies Nextleaf's commitment to expanding its market presence into Manitoba and the Northern Territories, offering consumers access to its acclaimed Glacial Gold and High Plains branded cannabis products.
Under the terms of the Agreement, Lineage will exclusively distribute Nextleaf's complete product catalogue of over 35 SKUs across four initial categories, including CBD and THC vapes, drops/oils, infused pre-rolls, and softgels. The Agreement encompasses the Province of Manitoba, Northwest Territories, Nunavut, and the Yukon Territories.
Graham Taylor, President of Lineage Distribution, stated, "As locals, we understand our market well and recognized that Nextleaf's Glacial Gold and High Plains branded products deliver high quality and a competitive price point. As cost-conscious consumers, Manitobans will resonate with these attributes. We're excited about creating value for retailers too, as they can command great margins by offering Nextleaf products to their customers."
With Manitoba being home to 200+ authorized adult-use cannabis retail stores serving approximately 1.4 million people, and the Northern Territories boasting a combined 16 retail stores considered destination shops, Nextleaf is well positioned for significant market penetration and growth.
Emma Andrews, Interim CEO at Nextleaf, commented, "Our vision is to ensure all Canadian's have access to unparalleled value and diverse product formats. We are excited to debut our brands in the Northern Territories and bolster our presence in Manitoba through our partnership with Lineage, driving investor value and market expansion. Delivering in-market support through a dedicated and reputable local partner will help drive sales growth and enhance awareness for our extensive lineup of new products slated for release this Spring."
New Product Launches for Spring 2024:
In addition to market expansion initiatives, Nextleaf announces the launch of new product offerings in spring 2024, by entering the infused preroll category under its Glacial Gold and High Plains brands. These innovative products cater to consumers seeking high-potency and differentiated experiences.
Glacial Gold MAX THC Double D Infused Prerolls feature high potency whole dried flower infused with premium botaically flavoured distillates and spiked with THCA diamonds. They contain 44-48% THC content, with up to 1000 mg of THC per package.
High Plains 1000mg THC Triple Infused Prerolls feature high-potency whole dried flower infused with a blend of live ice hash rosin, premium flavoured distillate, and THCa diamonds. This potent mix provides a 44-48% THC content with up to 1000 mg of THC per package.
"Consumers are consistently seeking high potency offerings and differentiated products. As part of our innovation pipeline, we are continuously validating opportunities to commercialize our high purity distillate across multiple categories and formats, to gain additional market share for our brands," shares Andrews.
Nextleaf will also introduce large format 100-pack softgels to Ontario and Alberta, offering three distinct potencies: CBD 50mg, Balanced 10mg:10mg, and THC 10mg. Recent sales data from Headset underscores the growth of the Glacial Gold brand, fuelled by its success in the softgel category.
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
Lineage Distribution in Niverville, Manitoba, is a trusted partner for secure storage and efficient distribution services. Originally known as Rogue Processing, a Health Canada licenced cannabis co-packing facility, Lineage Distribution has expanded its services to offer tailored supply chain solutions for cannabis brands. Positioned as a gateway to the Prairie & Northern recreational market, Lineage Distribution utilizes cutting-edge technology to enhance communication and operational efficiency, ultimately boosting profit margins and accelerating revenue growth. Choose Lineage Distribution for reliable, client-centric solutions in the dynamic cannabis industry.
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.
