Nextleaf Labs Lands Extraction Deal With Cannabis Producers

Nextleaf Solutions Ltd. OILS OILFF has formed a Cannabis extraction agreement.

The deal includes the Vancouver-based company's labs, which are focused on extracting and distilling THC and CBD oils, and a Health Canada standard processor, and Atlantic Canadian producer.

Under the agreement, which will last either one year or once 10 metric tons of biomass have been delivered, Nextleaf Labs will process cannabis biomass provided by the Client into finished product utilizing its patented extraction and purification platform.

Nextleaf Solutions will hold rights to financial gains of processing activities operated by its acquire, Nextleaf Labs, pursuant to agreements between the two parties.

Nextleaf Labs is obliged to supply to the wholesale market the portion of produced refined and distilled THC and CBD oils, to which he is entitled according to the deal.

"We are very pleased to be working with one of the leading cannabis brands in Atlantic Canada, built on consistent, high-quality products that consumers trust," Nextleaf Solutions CFO Charles Ackerman said in a statement.

Nextleaf Solutions' portfolio includes 21 issued patents and over 50 pending patents for the extraction, purification, and formulation of cannabinoids. 

"Having built what we believe to be the most efficient cannabis oil refinery in Canada, Nextleaf looks forward to providing economical processing solutions for our clients from coast to coast," Ackerman added.

Photo courtesy of NextLeaf