Vancouver, British Columbia–(Newsfile Corp. – August 20, 2020) – Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf“, “OILS“, or the “Company“), Canada’s most innovative cannabis extractor, is pleased to provide the following update:
Nextleaf is pleased with its operational progress as the oil refinery system has thus far performed consistently with the commissioning and scale up plan. To date, nearly 2 tonnes of biomass have been processed in the commissioning phase. Optimization has been consistent with planned timing. The current realized per shift capacity of turning cannabis biomass into refined oils is approximately 200kg. The Company’s Metro Vancouver extraction plant is well on its way to meet its design capacity. Given the current stage of optimization, Nextleaf is confident that by adding additional shifts it can process approximately 600kg per day.
“While scale is important as our industry grows domestically and internationally, much more important is the efficiency and margins that are derived from that scale, system and IP. We are quite pleased with the economics we’re seeing from our commission and optimization phase. We believe we are well positioned to be a focused, economical B2B supplier of bulk cannabinoids – now and in the future,” stated Charles Ackerman, Chief Financial Officer at Nextleaf.
Launch of Commercial Partners Program
The Company recently launched the OILS Commercial Partners Program as a focused solution for Canadian cannabis farmers requiring economical extraction and distillation services. Health Canada reported over 620 tonnes of unpackaged dried cannabis in inventories across the country as of April 30, 2020. With the largest cannabis harvest in history expected this fall, Nextleaf has designed this accretive program to make it easier for cultivators to monetize a greater percentage of their harvest. Under the program, licensed cultivators supply cannabis biomass to Nextleaf for processing into refined and distilled THC and CBD oils. Nextleaf will monetize the bulk oils through downstream manufacturing partners as well as supply the broader wholesale market. Proceeds of the program will be shared between Nextleaf and the cultivator.
Agreements with Wholesale Marketplace
With strategic geographical planning, Nextleaf has entered into three Cannabis Brokerage Agreements (the “Agreement“) covering the country from coast to coast. This tactical approach helps ensure broad national coverage beyond Nextleaf’s existing commercial clients.
“With the cannabis industry moving away from the vertical integration model and to a more focused and naturally delineated supply chain, we believe the wholesale B2B marketplace plays an important role. This is an efficient way for Nextleaf to wholesale cannabis oils to companies licensed to manufacture cannabis 2.0 products and create new potential partner relationships,” stated Charles Ackerman, Chief Financial Officer at Nextleaf.
Patent Issued in South Africa
The Company has been granted a patent in South Africa pertaining to OILS industrial-scale process of extraction, refinement, and distillation of cannabinoids. South Africa has an established and well-regarded pharmaceutical industry and the government will decide on the legalization of cannabis next month. This patent perpetuates the precedent set by the United States Patent and Trademark Office validating Nextleaf’s industrial-scale extraction and post-extraction processing technology.
The Company’s patented technology allows for dried cannabis and hemp biomass to be efficiently processed at scale into a high-purity THC and CBD distilled oil. Management believes that as cannabis continues to commoditize, proprietary technology, which allows companies to establish a low-cost competitive advantage, will become a focal point of differentiation and a key driver of long-term value.
As the global cannabis market continues to scale, Nextleaf’s internationally validated patent portfolio will create opportunities over the 20-year life of its patents. The Company will pursue international growth through alternatives based on the most accretive and resource efficient methods: intellectual property licensing, joint ventures, or proprietary cannabis oil refineries.
Corporate Outlook and Further Updates
With the optimization of Nextleaf’s refinery largely complete, the facility is fully commercialized and focused on fulfilling existing orders as well as finalizing larger opportunities enabled by its economies of scale – with the sole objective of obtaining profitability for ongoing operations of the Company’s oil refinery.
With Nextleaf’s fiscal year end on September 30, 2020, the Company will provide a robust corporate update and further operational progress towards the end of that month. The company will continue to provide guidance on its ongoing IP, commercial, and corporate milestones.
OILS is Canada’s most innovative cannabis extractor, developing technology for extracting and distilling cannabinoids. OILS provides extraction services and wholesale of THC and CBD oils through its wholly owned subsidiary Nextleaf Labs Ltd., a Health Canada licensed standard processor. Nextleaf’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. OILS is the first public company to be issued U.S. patents for industrial-scale extraction and distillation of cannabinoids. The Company owns a portfolio of over 40 issued patents and 60 pending patents for the extraction, purification, and formulation of cannabinoids.
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.
For commercial inquiries, please contact:
604-283-2301 (ext. 420)
For investor relations, please contact:
604-283-2301 (ext. 219)
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, approved or disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62183
ANC Cannabis Now Distributing 34 Street Cannabis Seeds from Coast to Coast
ANC Inc, Alberta’s first licensed micro cultivator, continues their national expansion with approval to supply seeds for the commercial and home grower in British Columbia, Alberta, Saskatchewan, Ontario and most recently, New Brunswick.
“Since 2017, ANC Cannabis has been forming a company built around the belief that we can create quality product that is accessible to everyone while also providing educational support and services to our consumers,” said Tairance Rutter, ANC Inc.’s VP Business Development and Marketing. Adding, “At ANC we are motivated by a passion for quality product and support for the entire growing and cultivation community. We believe that everyone, no matter their background or experience, should be able to grow their own quality cannabis plants.”
ANC is first and foremost a genetics company committed to developing the highest quality products possible. ANC is currently focused on seeds for the consumer and commercial market, with plans to release flower for retail sale in the late fall of 2020. The company has been approved for a processing licence so they can process their own product. The company has additional long-term plans to sell flower, likely in the form of pre-rolls sourced from the genetics they will be offering consumers as seed stock. This approach will allow consumers to experience the product before deciding on a cultivar. This will be part of a larger program the company calls the “Know Before You Grow” service, which will also include access to an online platform offering genetics-specific tips for home growers. ANC Inc’s VP of Research and Quality Control, Thomas Facciolo, is excited to provide answers for all our home growers’ questions.
“ANC continues to expand at a rapid pace, and we are elated to have reached the milestone of national distribution, spanning across Canada, from the West Coast in British Columbia to the East Coast in New Brunswick,” said ANC Inc President, Clayton Bordeniuk. Adding, “this is just the beginning for ANC.”
ANC has developed hundreds of different genetics that are ready for the recreational market including Fruity Hoops, Pink Lemonade, Pineapple Express, Power Kush, Triple Scoop, Bubba Kush 2.5, Chocolate Cake, Double Chocolate, 34 ST Cookies, Bubba Cheese and Sorbet 33. Each strain offers a different genetic make up, with a wide range of THC concentration, and different flowering periods, appropriate for a variety of climates for indoor and outdoor growers alike.
Better Plant Sciences Subsidiary NeonMind Signs Psilocybin Supply Agreement for Clinical Trials
Vancouver, British Columbia–(Newsfile Corp. – September 29, 2020) – Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant“) or (the “Company“) is pleased to announce that its majority owned subsidiary NeonMind Biosciences (“NeonMind“) has entered into a definitive agreement with Psygen Labs Inc. (“Psygen“) for the supply of psilocybin for NeonMind’s planned preclinical, and clinical trials to study the use of a drug product including Psilocybin for the treatment of food cravings and anxiety. The agreement was signed on September 28th, 2020.
Figure 1: Better Plant Sciences Subsidiary NeonMind Signs Psilocybin Supply Agreement for Clinical Trials
To view an enhanced version of Figure 1, please visit:
Psygen is currently acting as broker between NeonMind and a licensed dealer of restricted drugs (the “Licensed Dealer“). The Licensed Dealer holds a dealer’s licence issued under Part J of the Food and Drug Regulations (a “Dealer’s Licence“). The Supply Agreement provides that Psygen will supply the psilocybin directly once Psygen holds a Dealer’s Licence. Psygen currently has a pending application for a Dealer’s Licence.
“Psilocybin is known to activate serotonin receptors,” says Dr. William Panenka, lead scientific advisor to NeonMind. “As a neurotransmitter, serotonin helps to relay messages from one area of the brain to another. Serotonin is responsible for some of the drivers which govern eating. We are very interested in furthering studies to test various dosing regimens for NeonMind to see the effects that psilocybin may have on the serotonin receptors that regulate food cravings.”
“Psygen’s mission is to fill a supply gap for restricted drug substances and restricted drug products for use in clinical trials and in pre-clinical research,” says Danny Motyka, CEO of Psygen Labs Inc. “We have brokered supply of various restricted drugs for pre-clinical studies and clinical trials through our relationship with a Licensed Dealer. Psygen is currently building out a commercial manufacturing facility designed for high-volume output of psychedelic drug substances and drug products, filling a niche in the evolving psychedelic medicine ecosystem. Today these psychedelic drug substances are classified as restricted drugs, meaning no recognized medical use in Canada, and we are playing our part in moving those substances to the controlled drugs schedule of the Food and Drug Regulations or otherwise providing compliant access to psilocybin and other psychedelics.”
In December 2019, NeonMind filed a U.S. provisional patent application in the United States for the invention relating to therapeutic administration of psilocybin to provide weight loss benefits and potential treatment or regulation of diabetes, and regulation of blood glucose, and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and certain forms of cancer.
In May 2020, NeonMind completed the design of a preclinical trial to confirm that psilocybin is an effective treatment for weight loss and food cravings (the “Trial“). In July 2020, the scientific investigator chosen to lead NeonMind’s preclinical trial submitted a Section 56 Exemption application to Health Canada for the use of psilocybin in the Trial. An exemption must be granted and a final agreement entered into with the laboratory before the Trial can begin.
According to the World Health Organization, in 2016, more than 1.9 billion adults or 39% of adults, 18 years and older, were overweight. Grandview Research projects that the global weight management market is expected to grow at a compound annual growth rate of 8.3% from 2019 to 2025 to reach USD $442.3 billion by 2025.
About Psygen Labs Inc.
Psygen is a privately held company based in Calgary, Alberta. Psygen specializes in synthetic manufacture of psychedelic drug substances and drug products. Psygen provides non-exclusive access to GMP compliant psychedelic drug substances and drug products for clinical trials, therapeutic applications and pre-clinical studies. Psygen has entered into a number of definitive agreements for ongoing supply of drug substances and is positioned to be a lead supplier in the emerging commercial market for psychedelic drug substances and drug products. Psygen has sponsored a Licensed Dealer who holds a license for the manufacture, sale, import, export, and analysis of LSD, psilocybin, MDMA, DMT, 2C-B, and mescaline. Chemists working with Psygen currently operate from a manufacturing laboratory at the University of Alberta. Psygen has applied to Health Canada for a Dealer’s License that will allow Psygen to manufacture, possess, sell, import, export, research, develop, and analyze psychedelic drug substances and drug products. Psygen is currently building out a 6,000 square foot lab capable of large-scale synthesis, formulation and distribution of the above and additional psychedelics to a GMP standard. Psygen intends to be the leader in psychedelic medicine supply chain solutions and is committed to supporting the renaissance in use of psychedelics for research and clinical treatment of a wide variety of mental health issues.
About NeonMind Biosciences Inc.
NeonMind is engaged in research and development of products that use medicinal and psychedelic mushrooms to optimize human health and performance. The company is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents. NeonMind owns 18% of Translational Life Sciences Inc. Better Plant Sciences owns approximately 69% of the issued and outstanding stock of NeonMind.
About Better Plant Sciences Inc.
Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes plant-based products. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 proprietary products that are now for sale via eCommerce or brick-and-mortar retail stores. It operates websites and oversees eCommerce and Amazon sales for over 200 JUSU plant based products for body, baby and home and has announced it will acquire all JUSU Bar Inc. assets. Its majority-owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents.
Investor Relations Contact:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64798
CGOC Announces Management Changes and Director Appointment
Toronto, Ontario–(Newsfile Corp. – September 28, 2020) – Cannabis Growth Opportunity Corporation (CSE: CGOC) (“CGOC“, or the “Company“), a cannabis focused investment corporation with both public and private cannabis holdings, announced today that Paul Andersen, the Company’s Chief Financial Officer, has been appointed as the Company’s Chief Executive Officer replacing Sean Conacher, the Company’s former Chief Executive Officer. Mr. Phillip Millar has been appointed as the President and Chief Operating Officer and Michael Johnston will replace Mr. Andersen as the Chief Financial Officer and Corporate Secretary and has also been appointed as a director of the Company. Each of the foregoing changes are effective immediately.
Mr. Millar has extensive experience in the North American Cannabis market as a senior executive. His legal and military training brings a refreshing perspective to a market that values integrity, accuracy and reliability. The Company’s board of directors believes that Mr. Millar’s strategic vision and ability to synergize and coordinate multiple stakeholders towards a shared mission will add value to shareholders.
Mr. Johnston is a CPA, CA, and is currently the chief financial officer of Minsud Resources Corp., a mineral exploration company trading on the TSX Venture Exchange. From November 2015 to April 2018, he was the CFO of Canada House Wellness Group Inc., a Canadian cannabis company that currently produces medical grade cannabis and operates several clinics across Canada
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC’s main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company’s business plan and matters relating thereto, and risks associated with the Company’s investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company’s public filings on SEDAR. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
For further information please contact Cannabis Growth Opportunity Corporation:
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64803
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