- Nextleaf Solutions (CSE:OILS) has been granted a patent for the industrial-scale extraction of CBD and THC
- Issued by the Canadian Intellectual Property Office, it marks the 13th patent owned by the company
- The patent reflects a similar one granted by the United States Patent and Trademark Office on November 19, 2019
- Nextleaf also announced that it will be presenting at the Third Annual Gravitas Growth Conference this month
- Shares in the company are currently up 3.08 per cent to C$0.34, with a market cap of C$36.22 million
Nextleaf Solutions (CSE:OILS) has been issued a patent for the large-scale industrial extraction of CBD and THC.
One of Canada’s leading cannabis extractors, the company now owns 13 patents that form a broader intellectual property portfolio.
Issued by the Canadian Intellectual Property Office, the patent relates to a proprietary ‘closed loop chilled solvent apparatus’ for cannabinoid extraction.
A similar patent was granted on November 19, 2019, by the United States Patent and Trademark Office.
“When Nextleaf obtained the first patent for the industrial-scale extraction and purification of cannabinoids, it broadcast our team’s demonstrable talent for innovation,” said Nextleaf’s Director of IP, Taren Grey.
“To provide greater certainty of that talent, we have now repeated the accomplishment a dozen more times in four jurisdictions, with further patents expected to be granted shortly.”
Within the cannabis industry, approximately 50 per cent of all patents are successfully issued.
The company has so far been granted all of its patent applications, which it says reflects its market-leading methods of producing distilled CBD and THC oils.
Nextleaf is now turning its focus to commercializing its patent portfolio by licensing IP to third parties operating in other markets.
The company also plans to supply CBD and THC oils to specific partners via Nextleaf Labs, a Standard Processor certified by Health Canada.
Further to the patent announcement, Nextleaf also revealed it will be presenting at the Third Annual Gravitas Growth Conference on February 20.
Paul Pederson, the company’s CEO, is scheduled to present at 2:35 pm PST at the Fairmont Pacific Rim Hotel in Vancouver, British Columbia.
“I look forward to sharing our plans for 2020 at the Gravitas Growth Conference,” he said.
Shares in the Nextleaf Solutions are currently up 3.08 per cent to C$0.34, with a market cap of C$36.22 million.