Vancouver, British Columbia--(Newsfile Corp. - September 19, 2019) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), a cannabis extraction and processing technology company, has been granted its fifth U.S patent from the United States Patent and Trademark Office, pertaining to its proprietary process of industrial-scale extraction, refinement, and purification of cannabinoids.
This latest U.S. patent relates to post-extraction processing which includes filtration, novel decarboxylation methodologies, and the targeted removal of pigments - all of which create greater efficiencies and higher throughput rates. The resulting cannabinoid distillate oil is tasteless, odourless, highly purified, and ready to formulate into a variety of standardized THC and CBD infused products.
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The company also received news of two patents issued from the Canadian Intellectual Property Office as well as from Intellectual Property Australia. These patents echo the precedent set by the United States Patent and Trademark Office validating Nextleaf's industrial-scale extraction and post-extraction processing technology.
The company now owns a portfolio of eight issued and 24 pending patents pertaining to the production of high-purity, cannabinoid rich distillate, the key ingredient used in the manufacturing of standardized THC and CBD infused products.
Paul Pedersen, CEO, stated: "As we've seen with transactions like Canopy Growth Corp's US$330 million acquisition of Ebbu Inc. and its portfolio of pending patents, there is significant shareholder value creation through the formalization and protection of intellectual property. The difficulties cannabis companies have faced in turning intellectual property into patents point to a broader issue in the industry, where many companies tout their intellectual property, but few have successfully obtained exclusive rights to their inventions. Nextleaf being granted eight patents by three international patent offices in key markets such as Canada, Australia, and the United States validates our technology and further reinforces our vision to develop disruptive intellectual property for industrial-scale extraction, purification and formulation of cannabinoids."
The OILS team remains focused on expanding its IP portfolio by developing and acquiring the industry's most advanced, efficient, and scalable cannabis processing solutions, which have the potential to vastly reduce the cost of CBD and THC oil production, thereby positioning Nextleaf as the preeminent cannabinoid extraction technology company. The company plans to commercialize its IP property portfolio through IP licensing and B2B processing services once cannabis concentrates become legal across Canada on October 17, 2019.
Nextleaf recently granted exclusive license to BevCanna for the use of intellectual property related to water-soluble cannabinoids for the development, manufacturing and sale of BevCanna products, including BevCanna's portfolio of house brands, and white label products developed by BevCanna for third parties.
Nextleaf's built-out, 6,540 square foot dedicated extraction and processing facility is located in Greater Vancouver, British Columbia.
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Barry Morgan, CFO
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