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Cronos Group (TSX:CRON) invests in leading U.S. cannabis company
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  • Nextleaf (OILS) awarded U.S. patent and engages CannDelta for psychedelics dealer's licence
  • Nextleaf currently owns 15 U.S. patents and has been issued over 80 patents globally
  • It has also engaged CannDelta Inc. for its application for a Health Canada Controlled Drugs and Substances Dealer's Licence
  • The Dealer's Licence is expected to allow Nextleaf Labs to conduct a variety of activities relating to psilocybin and psilocin
  • This includes R&D, IP development, production of base substance materials, laboratory analysis, as well as the sale and distribution of the substances to authorized individuals
  • Nextleaf Solutions Ltd. (OILS) is up 2.17 per cent and is trading at C$0.24 at 11:23 am ET

Nextleaf Solutions (OILS) has received approval for a patent pertaining to the extraction and purification of THC and CBD.

Nextleaf believes it has developed defendable intellectual property around the most efficient methods for producing THC and CBD distillate at scale within a regulated market.

Nextleaf owns 15 U.S. patents and has been issued over 80 patents globally.

"Nextleaf has developed patented technology that may improve upon the medicinal properties of a natural product that has been in use for thousands of years," said Paul Pedersen, CEO of Nextleaf.

"With pharmaceutical companies beginning to enter the cannabinoid space, we believe Nextleaf's stack of intellectual property related to the production of novel psychoactive compounds will draw a lot of attention."

Nextleaf is pleased to advise that its wholly owned subsidiary Nextleaf Labs Ltd. has engaged CannDelta Inc. with respect to its application for a Health Canada Controlled Drugs and Substances Dealer's Licence.

Upon application submission and approval from Health Canada, the Dealer's Licence is expected to allow Nextleaf Labs to conduct a variety of activities relating to psilocybin and psilocin.

This includes R&D, IP development, production of base substance materials, laboratory analysis, as well as the sale and distribution of the substances to authorized individuals, including researchers and for its use in clinical trials.

"The decision to apply for a Health Canada licence forpsilocybin follows the launch of Nextleaf's Specialty Molecules Division, which is focused on the development and commercialization of novel psychoactive compounds," said Paul Pedersen.

"There is no better person to lead Nextleaf through the Health Canada licensing process for psychedelics than Dr. Sherry Boodram," added Pedersen.

Dr. Sherry Boodram is the co-founder & CEO of CannDelta and has served as an independent board member of the Company since October of 2019.

Dr. Boodram holds a Ph.D. in Chemistry from York University, a B.Sc. (Hon) from the University of Toronto, a Certificate in Cannabis Law and Regulation from Osgoode Hall Law School of York University, and a Graduate Certificate with Honours in Pharmaceutical Regulatory Affairs and Quality Operations from Seneca College.

Dr. Boodram is also an elected board member of the Canadian Association of Professionals in Regulatory Affairs (CAPRA).

Nextleaf is an innovative cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, distillation, and delivery of cannabinoids.

Nextleaf Solutions Ltd. (OILS) is up 2.17 per cent and is trading at C$0.24 at 11:23 am ET.

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