VANCOUVER, British Columbia, June 08, 2023 (GLOBE NEWSWIRE) — Nextleaf Solutions Ltd. (“Nextleaf” or the “Company“) (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), a federally regulated manufacturer and distributor of cannabis extracts, today announced that Paul Pedersen, CEO and Co-Founder, will present live at VirtualInvestorConferences.com on Thursday, June 8th at 12:30pm EST.
Nextleaf® reported record sales and its 2nd consecutive quarter generating positive cashflow from operations, for the quarter ended March 31, 2023. The Company has no secured debt, and expects to double its cannabis branded product sales from 2022. Management will provide an outlook and projections for the next 6 months on tomorrow’s webinar.
Nextleaf®: Generating Positive Cashflow Through Innovation
DATE: Thursday, June 8th, 2023
TIME: 12:30 PM EST (9:30 AM PST)
This will be a live, interactive online event where investors are invited to ask management questions in real-time. It is recommended that investors pre-register.
Virtual Investor Conferences is owned by OTC Markets Group Inc., which operates regulated markets for trading over 12,000 U.S. and international securities. Learn more about the event at www.virtualinvestorconferences.com.
Recent Company Highlights
Nextleaf’s prohibition-era brand, Glacial Gold™, was one of British Columbia’s best-selling brands of CBD & Balanced cannabis vapes and oils in 2022. Nextleaf’s new THC brand, High Plains™, was one of British Columbia Cannabis Stores’s best-selling brand of vapes in Q1 2023.
In 2022, Nextleaf® sold more vapes and oils in B.C. than Canopy Growth ($WEED), Tilray Brands ($TLRY), Aurora Cannabis ($ACB), Organigram ($OGI), and Sundial ($SNDL).
Low-cost Oil Producer: 10 issued U.S. patents protect what the Company believes to be the most efficient methods for producing high-purity THC and CBD ingredients in a regulated market. Nextleaf® continues to win business from licensed Canadian producers outsourcing their oil production.
Ingredient Manufacturer and Bulk Supplier: Nextleaf Labs supplies THC and CBD distillate to federally licensed partners for distribution under their own brands. Nextleaf® is powering the launch of Crooked Dory™ vapes, and other leading brands across Canada.
International Cannabis Vape Products: THC vapes custom manufactured by Nextleaf under private label are exported and distributed to pharmacies outside Canada where medical cannabis is legal. The Company sees increased international business.
Nextleaf® released its audited annual financial statements for the fiscal year ended September 30, 2022. Total revenue increased 52% from the year prior. Cost of Sales decreased approximately 12%, while the Company reduced SG&A, R&D, and total operating expenses year over year.
The Senior Secured Convertible Note issued to an institutional investor by Nextleadf® on March 31, 2021 has been extinguished, and The Company is secured debt free as of today’s date.
Dr. Sherry Boodram, CEO of CannDelta and Board Member of Nextleaf® (pictured)
About Nextleaf Solutions Ltd.
Nextleaf ® is a federally regulated manufacturer and distributor of cannabis extracts. The Vancouver-based company sells its Glacial Gold™ and High Plains™ branded vapes, oils, and softgel capsules through government distributors and authorized retailers in 6 provinces in Canada and at select medical cannabis providers and pharmacies nationwide. Nextleaf Labs ® is a low-cost producer of cannabis oils, and supplier of THC and CBD ingredients to qualified wholesale partners across Canada and internationally. The Company’s patented ingredient processing technology transforms unsold cannabis and hemp biomass into high-purity cannabinoid distillate at an industrial scale. Nextleaf® owns 19 U.S. patents, and has been issued over 100 patents globally, on cannabinoid processing including extraction, distillation, and acetylation.
For more information, email@example.com 604-283-2301 (Ext 205)
On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO & Co-Founder
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c555246-2b23-4b57-a158-992484db9e02.