Vancouver, British Columbia–(Newsfile Corp. – January 11, 2022) – Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf“, “OILS“, or the “Company“) , a federally regulated manufacturer and distributor of cannabis vapes and oils under its prohibition-era brand, Glacial Gold™, is pleased to announce that Distilled CBD 100 Oil and Distilled CBD 200 Oil are available nationally through its medical cannabis distribution partner, Quebec-based Medicibis (“Mendo“).
Glacial Gold™ Distilled CBD 200 Oil is a first in Canada, with the highest amount of CBD in a single unit (5700 mg), highest potency of CBD available in an ingestible format, and best dollar value per milligram for CBD in Canada.
The Company’s multi-patented ingredient processing technology is the secret behind Glacial Gold™ products. Distilled CBD 200 Oil was developed to meet the needs of the everyday CBD consumer. Glacial Gold™ CBD distilled oils are formulated with organic coconut MCT oil and a standardized dose of CBD.
In British Columbia, Nextleaf is a top 10 supplier of vapes and oils. Glacial Gold™ has multiple products inside the top 20 best selling SKUs within the vape and oils categories.
Figure 1: All Glacial Gold products are available nationally through Mendo Medical
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Mendo operates an online portal for medical patients that ships nationwide through www.mendocannabis.ca. All Glacial Gold™ CBD and THC vapes and distilled oils are distributed by Mendo to their patients in Quebec and across Canada.
“We’ve made the process of obtaining a medical cannabis document and becoming a member of Mendo a quick and easy one,” said Jay Schwartz co-founder and COO of Mendo. “Canadians that visit our online platform simply follow a link and schedule a consultation with one of our licensed medical professionals. This is done from the comfort of their home by telephone or video conference. In most cases the applicant’s account is approved within 24 to 36 hours at which point they may begin to place orders for medical cannabis delivered to their home as early as the next business day.” Mr. Schwartz added, “We are delighted to offer all Canadians a carefully curated menu of products with compassion pricing, as well as swift access to receive their medical document at no charge.”
“The team at Mendo are experienced operators with a unique approach in Quebec that has been a major catalyst for the growth of their distribution platform,” said Paul Pedersen co-founder and CEO of Nextleaf. “Nextleaf is pleased for Glacial Gold vapes and distilled oils to be available to medical patients coast to coast through the Mendo platform”.
CBD is increasingly thought of as a potential therapeutic treatment for opioid use disorder. On January 4, 2022, the FDA approved human trials evaluating an investigational drug using CBD to be conducted at UCLA and funded by the U.S. National Institute on Drug Abuse.[1]
Medical patients including veterans, have made it clear that they need a reliable supply of consistent quality medical cannabis products for those living with PTSD, chronic pain, and other conditions that disproportionately impact veterans. According to a 2019 Veterans Health and Medical Cannabis Study[2], 96{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} of veterans reported they experience a much greater quality of life because of their cannabis consumption.
As part of the Company’s commitment to improving access to medical cannabis, Nextleaf launched an assortment of accessibly priced Glacial Gold™ CBD and THC products for the medical market through Mendo.
Quebec is the third-largest cannabis market in Canada, representing approximately 15{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d}[3] of Canadian cannabis retail sales in the country, and approximately 22{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} of the Canadian population[4]. Canadian spending on medical cannabis totaled $587 million in 2020[5]. Medical cannabis has become an important component of Canadian healthcare, with $119 million of medical cannabis purchases reimbursed by the Federal Government through Veterans Affairs Canada in 2020[6].
About Medicibis
Medicibis operates out of its 20,000 sq.ft. facility located 15 minutes from downtown Montreal in St Jean Sur Richelieu. Medicibis also operates an online portal for medical patients that ships nationwide through their website mendocannabis.ca. Mendo’s menu has been carefully curated to offer a variety of products from licensed producers from all over Canada. Mendo is positioned to become one of the leading suppliers of medical cannabis to patients and veterans in the country.
About Nextleaf®
Nextleaf is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning prohibition-era brand, Glacial Gold™. The Company’s multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale. Nextleaf is a low-cost producer of cannabis oils, and supplies THC and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial extraction and purification of cannabinoids. The Company has been issued 17 U.S. patents, and over 90 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops proprietary cannabinoid-based formulations and delivery technology through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. For more information visit www.nextleafsolutions.com and www.Glacial.Gold
Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.
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For more information please contact:
Jason McBride, Corporate Development
604-283-2301 (ext. 219)
jason@nextleafsolutions.com
On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO
Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s ability to capitalize on its IP portfolio, receipt of the Dealer’s Licence within the anticipated timeframe or at all, the activities the Company expects to conduct if the Dealer’s Licence, the ability of the Company to develop and protect intellectual property relating to psychedelics, the expected benefits to the Company if the Dealer’s Licence is received, the Dealer’s License assisting the company in obtaining a unique position for the Company to develop a suite of standardized plant-derived drugs, the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s MD&A for the most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The CSE has not reviewed or approved the contents of this press release.
[1] https://hempindustrydaily.com/fda-signs-off-on-human-cbd-trials-to-treat-opioid-addiction/
[2] https://www.cannabissciencetech.com/view/the-2019-veterans-health-and-medical-cannabis-study
[3] Statistics Canada, July 2021 cannabis retail sales
[4] Statistics Canada
[5] https://mjbizdaily.com/canadas-legal-cannabis-market-continues-to-erode-illicit-markets-share/
[6] https://www.veterans.gc.ca/eng/about-vac/research/research-directorate/publications/reports/cmp2018
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