- Nextleaf Solutions (OILS) has been granted a patent for its foundational process for producing low-cost cannabis distillate from the Israeli Patent Office
- In December 2020, Israel signed a regulatory amendment permitting the use of CBD in cosmetics and food products
- There are over 71,000 legal, medical cannabis patients, in addition to an estimated C$2 Billion in illicit cannabis consumption in Israel
- Nextleaf is a cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, purification, and delivery of cannabinoids
- Nextleaf Solutions (OILS) is up 1.75 per cent and is trading at C$0.29 at 11:46 am EST
Nextleaf Solutions (OILS) has been granted a patent for its foundational process for producing low-cost cannabis distillate from the Israeli Patent Office.
Nextleaf believes international patent protection is crucial in developing defendable intellectual property around the most efficient methods for producing high-purity THC and CBD oils within a regulated environment.
With the medical cannabis market in Israel continuing to grow along with the tailwind of legalization, Nextleaf views Israel as a key jurisdiction for cannabinoid IP rights.
In December 2020, Israel signed a regulatory amendment permitting the use of CBD in cosmetics and food products.
According to the Israeli Medical Cannabis Association, there are over 71,000 legal, medical cannabis patients, in addition to an estimated C$2 Billion in illicit cannabis consumption in Israel.
“This Israeli patent is a validation of our technology and is significant in achieving our vision of developing IP that improves cannabis oil economics globally,” said Paul Pedersen, CEO of Nextleaf Solutions.
Nextleaf owns one of the largest portfolios of issued U.S. patents related to cannabis extraction, and has been issued patents in Canada, Mexico, Australia, New Zealand, Colombia, South Africa, Cambodia, Israel, Germany, the U.K. and across Europe.
It is currently focused on commercializing its portfolio of issued and pending patents through licensing of IP (royalties), processing services, and bulk sales of CBD and THC oils to qualified Canadian and international partners.
Nextleaf has issued an aggregate of 383,428 common shares at C$0.285 per share, representing an aggregate value of C$109,277, to consultants of Nextleaf, as compensation for services provided.
Nextleaf also issued an aggregate of 560 thousand stock options to the non-executive employees, each option exercisable for five years at an exercise price of C$0.35.
Nextleaf is a cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, purification, and delivery of cannabinoids.
It is a low-cost producer of cannabis distillate and private label THC & CBD oils through its wholly-owned subsidiary Nextleaf Labs Ltd.
Nextleaf Solutions (OILS) is up 1.75 per cent and is trading at C$0.29 at 11:46 am EST.
