Mr. Paul Pedersen reports

NEXTLEAF LICENSES U.S. PATENT TO HEMPCRETE NATURAL

Nextleaf Solutions Ltd. has entered into a strategic agreement with Hempcrete Natural Building Ltd., an international construction company creating carbon neutral communities through sustainable, renewable and stronger buildings.

The agreement permits Hempcrete Natural, on a non-exclusive basis, to commercialize certain Nextleaf intellectual property, specifically, a U.S. patent related to hemp biomass processing.

Hemp ash processed using Nextleaf's patented technology shows promise as a key ingredient and replacement for fly ash in the manufacturing of Portland cement. Research suggests Portland cement production is responsible for 2 to 3 per cent of global energy use and approximately 5 per cent of man-made carbon dioxide (CO2) emissions.

Government-financed R&D (research and development) led by Nextleaf engineering manager, Dr. Krupal Pal, PhD, PEng, demonstrated superior performance of hemp ash as both a valorized biofuel and as a cementitious material. Dr. Pal co-authored, with leading academics, a research paper titled "Hemp Waste Valorization as Biofuel and Cement Replacement in Cement and Concrete Production."

When leveraged as a biofuel during hemp ash production, power is generated and metric tonnes of biomass can be diverted from landfills and used as a supplementary cementitious material. Current estimates indicate close to a billion kilograms of biomass being harvested annually by the marijuana and hemp industry with tonnes of waste sent to settlement pits and landfills.

"Nextleaf identified carbon life cycle management as an opportunity to reduce greenhouse gas emissions while launching a new vertical. We are excited to license our technology to a team of subject matter experts with decades of experience with hempcrete building materials," said Nextleaf An anonymous director reports and co-founder Paul Pedersen.

Nextleaf to present at Canaccord Genuity's sixth annual cannabis conference

Nextleaf CEO Mr. Pedersen will be presenting at Canaccord Genuity's sixth annual cannabis conference on May 11, 2022, at 8 a.m. Eastern Time.

The company's award-winning prohibition-era brand, Glacial Gold, outsold Canada's largest cannabis producers in the oil and vape category in British Columbia during Q1 2022. Glacial Gold Anytime Vape is the No. 1 selling cannabidiol (CBD) forward vape stock-keeping unit (SKU) in British Columbia. Nextleaf has developed a competitive advantage in the production of cannabis oil by leveraging its patent stack to control the cost and quality of the ingredients used to manufacture vapes and oils. Nextleaf has been issued 10 United States patents for what the company believes to be the most efficient technology to produce high-purity distilled cannabinoids in a regulated market.

About Nextleaf Solutions Ltd.

Nextleaf is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning prohibition-era brand, Glacial Gold. The company's multipatented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale. Nextleaf is a low-cost producer of cannabis oils, and a supplier of tetrahydrocannabinol (THC) and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial extraction and purification of cannabinoids. The company has been issued 18 U.S. patents, and over 95 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops cannabinoid-based formulations and proprietary delivery technology through its Health Canada research licence with sensory evaluation of cannabis via human testing.

Nextleaf trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States and L0MA on the Frankfurt Stock Exchange.

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