Mr. Kevin Keagan reports

NEXTLEAF PROVIDES UPDATES ON GLACIAL GOLD PRODUCTS FOR THE ONTARIO AND BRITISH COLUMBIA MARKETS

Nextleaf Solutions Ltd. has launched a new high-THC (tetrahydrocannabinol) vape in Ontario and has provided additional product updates in British Columbia, including the company's first cannabinol (CBN) product.

Ontario Glacial Gold update

Nextleaf is excited to announce the launch of a new limited drop Glacial Gold vape for Ontario. The new Glacial Gold High THC Holiday Fruitquake is a one-gram THC vape cartridge with a holiday inspired flavour that is sweet, fruity, and cakey, reminiscent of your favourite holiday fruitcake.

The Company has received its largest purchase order from the province to date and the new Glacial Gold offering is expected to be available at retail stores across Ontario and at osc.ca in October 2022.

British Columbia Glacial Gold Update

Nextleaf has completed its initial shipment of its new one-gram Glacial Gold CBD 3:1 Vape in the Company's signature Berry Lemonade flavour. Consumers can now find this new product in retail stores throughout B.C.

Additionally, Nextleaf is delighted to announce its expansion into the rare cannabinoids market segment, specifically CBN, with the launch of Glacial Gold After Hours CBN:THC Drops. Formulated for night-time use, Glacial Gold After Hours CBN:THC Drops is the perfect blend of THC and CBN to help consumers unwind after a long day.

Along with Glacial Gold After Hours CBN:THC Drops, there are several new Glacial Gold SKU listings ("SKUs") that are set to launch between now and the end of fall in British Columbia. The additional SKUs approved are Glacial Gold Session THC Lime Ginger Haze, Glacial Gold THC 10mg Softgels, and Glacial Gold Rise & Shine CBD Drops.

Glacial Gold Session THC Lime Ginger Haze is a full potency one-gram THC vape cartridge. The lime ginger haze vape is cocktail inspired and consists of a citrus, lime-forward flavour, with a subtle hint of ginger. The Company has received its initial purchase order from the province and expects the product to be available in B.C. in early October.

Glacial Gold THC 10mg Softgels will launch in B.C. in ten and fifty-pack formats powered by Nextleaf's high-purity cannabis distillate in a base of organic coconut MCT oil expertly encapsulated for a premium consumption experience, without premium pricing. Glacial Gold Softgels will provide unparalleled value in quality and price per milligram compared to other regulated capsules and edible products.

Glacial Gold Rise & Shine CBD Drops is Nextleaf's first product utilizing its technology to produce its excise-exempt ingredient, THC-free Broad Spectrum CBD distillate. The new product is a more holistic alternative to CBD isolates, perfect to start the day with no concern of THC consumption.

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 multi-patented 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 supplier of 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 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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