Vancouver, British Columbia – March 1, 2022 (Investorideas.com Newswire) Nextleaf Options Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf” or the “Firm”), a federally regulated producer and distributor of hashish vapes and oils, introduced monetary outcomes for its first quarter fiscal 2022 interval (“Q1 2022”) ended December 31, 2021. Nextleaf is happy to offer the next Q1 2022 highlights:
- The Firm earned processing revenues from hashish focus and branded product gross sales of roughly $1,150,000, with a gross margin of roughly 30%.
- Nextleaf turned a top-10 provider of hashish oils and vapes in British Columbia (“B.C.”).
- Established distribution of Glacial Gold™ branded merchandise into three provincial adult-use markets and nationally for medical hashish sufferers.
- Established a business provide partnership with a Nasdaq-listed world hashish firm, with Nextleaf supplying THC substances to energy the associate’s THC vape cartridges distributed nationally below their manufacturers.
“Nextleaf’s income range continues to offer a extra strong base. With the growing variety of provincial markets and distribution factors, our Firm is effectively positioned to appreciate steady and repeatable development,” stated Nextleaf CFO Charles Ackerman. “We’re beginning to see the constructive development in gross margin at these present income ranges, which we imagine are very scalable – with extra alternatives to appreciate additional efficiencies as we proceed to extend utilization of our present IP and asset base.”
Glacial Gold™ Market Share
The Firm is happy to offer the next knowledge[1] on the gross sales of its Glacial Gold™ hashish oils and vapes in B.C. through the three-month interval ended December 2021:
- Glacial Gold™ Anytime Vape is the #1 promoting CBD ahead vape.
- Glacial Gold™ is the #7 model in oils by income (5.5% market share).
- Glacial Gold™ is the #7 model in vape cartridges by items offered (4.1% market share).
- 12 complete Glacial Gold™ product listings – together with seven excessive quantity 1-gram vape SKUs, representing the most important choice of giant format vapes in B.C.
- A number of high 20 product rankings throughout the vape and oil classes.
Key Milestones Throughout Q1 2022
In October 2021, Nextleaf was approved by the Saskatchewan Liquor and Gaming Authority to distribute hashish merchandise in Saskatchewan. In December 2021, the Firm launched Glacial Gold™ vapes and oils at hashish retailers throughout Saskatchewan by means of Nationwide Hashish Distribution Inc.
Nextleaf entered right into a distribution settlement with Medicibis (“Mendo”), a Québec-based hashish processor and distributor, for nationwide distribution of Glacial Gold™ merchandise by means of Mendo’s nationwide medical hashish gross sales platform, www.Mendocannabis.ca.
In November 2021, the Firm obtained acceptance of its software for a Supplier’s Licence, now formally below overview by Well being Canada. Assuming approval from Well being Canada, the Supplier’s Licence is predicted to permit the Firm to conduct a wide range of actions regarding psilocybin and psilocin together with R&D, IP improvement, manufacturing of base substance supplies, laboratory evaluation, in addition to the sale and distribution of the substances to approved people, together with researchers and for its use in scientific trials.
America Patent and Trademark Workplace granted Nextleaf a U.S. patent pertaining to a novel course of for acetylating Cannabigerol (“CBG”). The Firm was additionally granted a U.S. patent for the design of its hashish oil refinery. Nextleaf owns 17 issued U.S. patents, and over 90 patents globally, on cannabinoid processing together with extraction, distillation, and acetylation.
In December 2021, Nextleaf launched essentially the most potent ingestible CBD product in Canada, with Glacial Gold™ Distilled CBD 200 Oil out there nationally to medical sufferers by means of Mendo and for adult-use customers by means of provincial distributors.
Nextleaf Labs onboarded and delivered preliminary buy orders of high-purity THC distillate to 2 new licensed producers. Throughout December and January, Nextleaf Labs equipped greater than 120 kilograms of high-purity THC and CBD distillate substances to its new and present wholesale companions.
Key Milestones Subsequent to Q1 2022
Nextleaf Labs obtained approval from the Ontario Hashish Retailer (“OCS”) to listing the Firm’s Glacial Gold™ branded hashish merchandise in Ontario. Wholly-owned by the Province of Ontario, the OCS is the only real distributor within the province and all Ontario retailers should buy their product stock by means of the OCS. Glacial Gold™ merchandise are anticipated to be out there at retail shops throughout Ontario and at osc.ca beginning Could 2022.
Nextleaf Labs was accepted as a vendor by the Nova Scotia Liquor Company and started supplying the Nova Scotia market with Glacial Gold™ CBD and THC merchandise in January 2022. Glacial Gold™ vapes and distilled oils at the moment are out there throughout Nova Scotia.
In February 2022, Nextleaf Labs launched two new vape flavours: Sunshine Punch and Glowing Grape, with the B.C. provincial distributor shortly promoting out the brand new Glacial Gold™ branded Anytime CBD and Session THC vapes.
“Hashish retailers and customers have shortly made Glacial Gold a top-10 promoting model of hashish oils and vapes in British Columbia,” stated Nextleaf CEO Paul Pedersen. “With Glacial Gold successful market share in key classes, coast-to-coast distribution of our branded merchandise, and continued development in our B2B ingredient provide enterprise, Nextleaf is effectively positioned to ship sturdy fundamentals as we scale the utilization of our oil refinery.”
About Nextleaf®
Nextleaf is a federally regulated producer and distributor of hashish vapes and oils below its award-winning prohibition-era model, Glacial Gold™. The Firm’s multi-patented ingredient processing expertise transforms hashish and hemp biomass into high-purity distillate at an industrial scale. Nextleaf is a low-cost producer of hashish oils, and provides THC and CBD substances to certified wholesale companions throughout Canada. Nextleaf is the primary publicly traded firm to be issued a U.S. patent for the commercial extraction and purification of cannabinoids. The Firm has been issued 17 U.S. patents, and over 90 patents globally, on cannabinoid processing together with distillation and acetylation. Nextleaf develops proprietary cannabinoid-based formulations and supply expertise by means of its Well being Canada Analysis Licence with sensory analysis of hashish through human testing. For extra data go to www.nextleafsolutions.com and www.Glacial.Gold
Nextleaf Options 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 extra data please contact:
Jason McBride, Company Improvement
604-283-2301 (ext. 219)
[email protected]
On behalf of the Board of Administrators of the Firm,
Paul Pedersen, CEO
Sure statements contained on this press launch represent “forward-looking statements” throughout the which means of relevant securities legal guidelines. All statements aside from statements of historic reality contained on this press launch, together with, with out limitation, statements concerning the Firm’s anticipated supply of its merchandise to provincial markets throughout Canada and people concerning the Firm’s technique, plans, targets, targets and targets, and any statements preceded by, adopted by or that embrace the phrases “imagine”, “count on”, “purpose”, “intend”, “plan”, “proceed”, “will”, “might”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “venture”, “search”, “ought to” or comparable expressions or the adverse thereof, are forward-looking statements. These statements usually are not historic details however as a substitute characterize solely the Firm’s expectations, estimates and projections concerning future occasions. These statements usually are not ensures of future efficiency and contain assumptions, dangers and uncertainties which might be troublesome to foretell. Due to this fact, precise outcomes might differ materially from what’s expressed, implied or forecasted in such forward-looking statements. Further components that would trigger precise outcomes, efficiency or achievements to vary materially embrace, however usually are not restricted to the danger components mentioned within the Firm’s MD&A for the newest fiscal interval. Administration supplies forward-looking statements as a result of it believes they supply helpful data to buyers when contemplating their funding targets and cautions buyers to not place undue reliance on forward-looking data. Consequently, the entire forward-looking statements made on this press launch are certified by these cautionary statements and different cautionary statements or components contained herein, and there may be no assurance that the precise outcomes or developments shall be realized or, even when considerably realized, that they’ll have the anticipated penalties to, or results on, the Firm. These forward-looking statements are made as of the date of this press launch and the Firm assumes no obligation to replace or revise them to replicate subsequent data, occasions or circumstances or in any other case, besides as required by legislation. The Canadian Securities Change has not reviewed or accepted the contents of this press launch.
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