The Company’s latest U.S. patent is for the Acetylation of Cannabinoids, protecting the production of a CBD-derived prodrug with potential applications in the pharmaceutical industry.

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), Canada’s most innovative cannabis extractor, announced today that the United States Patent and Trademark Office has granted the Company a second patent for the acetylation of cannabinoids. More specifically, the patent covers a process for acetylating cannabidiol (“CBD”), and subsequent refinement of CBO-O-Acetate.


The Company owns a portfolio of 10 issued U.S. patents for extraction, purification, and delivery of cannabinoids, along with a 100% success rate obtaining issued patents from its pending patent applications, compared to less than 50% for life science companiesI.

“We expect the results of the 2020 U.S. elections will have a transformational effect on the future of cannabis legalization in the United States,” stated Paul Pedersen, CEO of Nextleaf Solutions. “With the second largest patent portfolio of any cannabis company, Nextleaf has the type of robust intellectual property that draws attention from pharmaceutical companies anticipating the U.S. federal legalization of cannabinoids.”

Nextleaf’s patented process to produce CBD-O-Acetate enables the standardization of a more potent analog of CBD, an alternative option to experience the unique medicinal benefits associated with targeted drug delivery. Prodrugs utilize various physical and chemical modifications to improve features of active drugs. Maintaining the integrity of the molecule and its ability to deliver drugs to precisely targeted areas in the body may increase efficacy for desired outcomes.

The Company believes an orally consumable CBD metabolic prodrug produced under its patented process for acetylating cannabidiol will enhance the therapeutic potency of CBD.

OILS was granted a U.S. patent in February for the acetylation of delta 9-tetrahydrocannabinol (“THC”), and subsequent refinement of THC-O-Acetate.

“With this second U.S. patent for acetylation of cannabinoids, we are able to efficiently modify and potentially improve upon the medicinal properties of a natural product that has been in use for thousands of years,” stated Ryan Ko, Chief Technical Officer.

The Company has commenced a search for commercialization partners of its cannabinoid acetylation patents, with a specific focus on pharmaceutical companies seeking novel cannabinoid-derived products for clinical trials, and turnkey pharmaceutical production.

About Nextleaf®

OILS is Canada’s most innovative cannabis extractor, developing technology for extracting and distilling cannabinoids. OILS wholesales THC and CBD oils and provides extraction services through its wholly owned subsidiary Nextleaf Labs Ltd., a Health Canada licensed processor. The Company owns a portfolio of over 50 issued patents and over 50 pending patents for the extraction, purification, and delivery of cannabinoids. The Company’s proprietary closed-loop extraction plant in Metro Vancouver has a design capacity to process 600 kg per day of dried cannabis biomass into distilled oils.

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.

Follow OILS across social media platforms: Twitter, LinkedIn, Facebook, and Instagram.

www.nextleafsolutions.com

For more information please contact:
Jason McBride
604-283-2301 (ext. 219)
investors@nextleafsolutions.com

On behalf of the Board of Directors of OILS,

Paul Pedersen, CEO

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 or approved the contents of this press release.

IMichael Carley, Deepak Hegde & Alan Marco, What is the Probability of Receiving a U.S. Patent?, 17 Yale J.L. & Tech (2015). Available at: https://digitalcommons.law.yale.edu/yjolt/vol17/iss1/5

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67544

News Provided by Newsfile via QuoteMedia

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.

Keep reading... Show less

NYSE | TSX: ACB

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000 . The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Keep reading... Show less

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000. The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of US$12.60 per Warrant Share, subject to adjustment in certain events.

Keep reading... Show less

AMP German Cannabis Group Inc. (” AMP “) (CSE: XCX ), ( Frankfurt : C4T ) (ISIN: CA00176G1028) and Aphria Inc.’s (” Aphria “) (TSX: APHA ) (NASDAQ: APHA) wholly-owned German subsidiary, CC Pharma GmbH (” CC Pharma “), have entered into a strategic agreement (the ” Co-Promotion Agreement “) covering joint marketing of sales for Aphria brand medical cannabis products for the German market.

The Co-Promotion Agreement is a collaboration contract between AMP and CC Pharma to sell the Aphria medical cannabis brand in Germany . In addition, AMP will organize with the support of CC Pharma, “information events” in Germany to market Aphria branded products to doctors and pharmacists.

Keep reading... Show less

HempFusion Wellness Inc. ( TSX:CBD.U ) ( FWB:8OO ) (“ HempFusion ” or the “ Company ”) is pleased to announce that it has been included in two leading cannabis & hemp-derived CBD focused exchange-traded funds (“ ETFs ”), AdvisorShares Pure US Cannabis ETF ( NYSE:MSOS ) and AdvisorShares Pure Cannabis ETF ( NYSE:YOLO ).

AdvisorShares is a leading sponsor of actively managed ETFs. Pure US Cannabis ETF (MSOS) is the only US-listed ETF dedicated solely to US cannabis exposure, with over US$616,000,000 in assets under management (“ AUM ”). Pure Cannabis ETF (YOLO) was the first US-based actively managed ETF focused on the global cannabis industry. YOLO and MSOS endeavor to achieve long-term capital growth by investing in some of the largest foreign and domestic cannabis and hemp-derived CBD companies. The two AdvisorShares ETFs have a combined AUM of over US$880,000,000 as of January 22, 2021.

Keep reading... Show less