Mr. Paul Pedersen reports

NEXTLEAF LAUNCHES THC SOFTGELS IN BRITISH COLUMBIA AND AWARDED ITS 19TH U.S. PATENT

Nextleaf Solutions Ltd. has delivered on its initial purchase order from the British Columbia Liquor and Distribution Branch (LDB) for Glacial Gold THC 10-milligram softgels.

The first Glacial Gold THC 10 mg softgels to launch is a 50-pack large format size and is now available for British Columbia retailers to order. Nextleaf is introducing a 10-pack trial size of Glacial Gold THC 10 mg softgels in the coming weeks to address the market for edible cannabis products with more THC per package. The company is positioning its 10-pack trial size of Glacial Gold THC 10 mg softgels to disrupt the edible market by providing savings of over 75 per cent (price per milligram) for adult consumers when compared with the value edible category.

Glacial Gold softgels provide unparalleled value in quality and price per milligram compared with edible products sold in Canada. Glacial Gold softgels are made with high-purity cannabis distillate in a base of organic coconut MCT oil expertly encapsulated for a premium consumption experience, without premium pricing.

While softgels utilizing THC, CBD and other rare-cannabinoids as ingredients are relatively new to consumers as a regulated adult-use product, the global softgel market is estimated to reach $9.59 billion (U.S.) by 2027. THC and CBD softgels offer consumers a familiar alternative to syringe-based oils, in an easy-to-dose format.

Nextleaf awarded 19th U.S. patent

Nextleaf is pleased to announce that the United States Patent and Trademark Office has granted the company its 19th issued U.S. patent.

Nextleaf's latest U.S. patent describes a second proprietary method in which spent cannabis and hemp biomass is heated in stages to reclaim residual cannabinoids while simultaneously generating carbon with a desired porosity level (activated carbon). When utilized, this patented process allows Nextleaf to maximize its cannabinoid yield, reduce waste destined for landfills, and further protect a potential future business vertical at minimal cost. The global activated carbon market is expected to garner 2.7 million tonnes and have a total addressable market over $5.1-billion in 2022.

"Following on Nextleaf's patent licensing deal with Hempcrete Natural Building Ltd., this improved method for inexpensively harvesting cannabinoids from waste biomass, while producing activated charcoal for B2B [business-to-business] sales, demonstrates our commitment to maximizing value and minimizing the environmental impact of our industry," said Taran Grey, Nextleaf director of intellectual property.

Nextleaf owns one of the largest collections of U.S. patents among all cannabis companies. Nextleaf's intellectual property portfolio includes 19 U.S. patents and 100 issued patents globally on cannabinoid processing including extraction, distillation and acetylation.

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 supplier of THC and CBD ingredients to qualified wholesale partners across Canada. The company has been issued 19 U.S. patents, and 100 patents globally, on cannabinoid processing including extraction, 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.

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