Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", "OILS", or the "Company"), a leading life science firm and licensed cannabis processor, is excited to announce 12 new product listings nationally across 5 categories, and the permanent appointment of Sam Kassem as Chief Financial Officer.
New Products and Innovation
Nextleaf is pleased to announce 12 new listings across 5 categories, launching between September 2024 and early 2025. Currently the Company manufactures 40 products for coast-to-coast distribution to medical and adult use consumers.
The product pipeline includes a significant expansion into the minor cannabinoid market, with the launch of 2 new CBN softgel SKU's. CBN, often anecdotally referred to as the "melatonin" of cannabis, is recreationally consumed for its potential sleep-supporting properties.
Additionally, Nextleaf will begin commercializing RSO (Rick Simpson Oil), a high-potency extract that contains a broad spectrum of cannabinoids and plant-based compounds, also known as "full spectrum", initially popularized in the prohibition era. The Company processes its own RSO ingredients in-house for Glacial Gold and commercial partners, utilizing its multi-patented extraction process.
Alongside ingredient innovation, Nextleaf will invest deeper into hardware innovation, rapidly commercializing 4 all-in-one vape products which include built-in rechargeable batteries, ready-to-consume. The Company anticipates additional listings within this sub-segment through-out FY 2025.
"Convenience is consistently a dominant purchase driver for consumers. We recognize the need for this ready-to-consume sub-segment in the vape category, and through our rapid approach to commercialization, we're able to expand our offerings with unparalleled value and speed-to-market," comments Chris Andrews, VP Commercialization.
According to Headset Sales Data (September 2024), Glacial Gold was the #1 softgel brand in Western Canada, outpacing competitors both in SKU performance, and volume of offerings. Glacial Gold has 12 softgel SKU's available in BC and Alberta, with additional launches expected.
"Our team is enthusiastic about where consumption trends are headed, and to be category leaders steering the conversation. Consumers value having choice, alternative methods of consumption, health-conscious options, high-quality ingredients, and all-natural alternatives. Our capabilities are well positioned to capitalize on the opportunity," comments Emma Andrews.
As part of their strategic efforts to strengthen brand presence and consumer engagement, the Company recently participated at KIND Summer Fair in Toronto, ON where their Glacial Gold 'Glacial Cones' and Vape Bar activation was voted the #3 most mentioned by first-time attendees. "For their first-time exhibiting, the team delivered a high-energy, engaging, and yet still economical activation. It was no surprise to see the recognition from budtenders," shares Josh Nagel, CEO of KIND Media. "This is a brand to watch."
Commercial Strategy
Nextleaf has maintained a focused business model since its inception, through extraction technology and processing. This depth has allowed for specialized training and expertise for staff, and a reputation for exceptionally consistent products and ingredients in market.
The Company's aggressive pricing strategy, combined with significant cost savings from in-house production of high-purity ingredients, has contributed to Glacial Gold's growing market share. Approximately 70% of the Company's FY 2024 YTD revenue was generated through its CPG strategy.
"Glacial Gold is becoming rapidly known as the go-to brand for value and variety. The versatility of our portfolio ensures there's something for every type of cannabis consumer and consumption occasion, with one trusted producer," shares Emma Andrews, CEO.
Appointment of Chief Financial Officer
Nextleaf's Board of Directors is pleased to announce the permanent appointment of Sam Kassem as the Chief Financial Officer. Mr. Kassem has acted as the Company's Interim CFO since Sept 2023.
"Working closely with Sam on the audit committee and Board has cemented my confidence in his contributions," shares Fred Bonner, an Independent Director with the Company for the past 7 years. "He has gone above and beyond, notably to help guide the Company through a pivotal ERP integration project that will undoubtedly help future-proof the operation and our next stage of growth."
About Sam Kassem, BBA, CFA
Sam Kassem brings a wealth of experience in streamlining financial processes, optimizing cash flow management, and enhancing operational efficiencies. With over a decade of experience in the cannabis industry, Mr. Kassem has collaborated with cultivators and processors and played a key role in building a leading technology provider within the sector.
Share Issuance.
Nextleaf has issued 1,666,667 common shares at a deemed price of $0.09 per share for the payment of an amount payable by the company valued at $309,101. The Company is pleased in the gain realized on payment of the amount, and corresponding gain on settlement.
About Nextleaf Solutions Ltd.
Nextleaf? is an innovative cannabis processor and life science firm with a portfolio of federally regulated emerging consumer brands, market validated cannabis derivative products, and high-potency bulk ingredients. Nextleaf's multi-patented, highly automated, closed loop extraction and distillation technology sets the global standard for processing cannabis at scale.
With coast-to-coast distribution, Nextleaf brands are sold through both medical and recreational channels and includes acclaimed legacy-era brand Glacial Gold, and High Plains Cannabis.
The Company has been issued 19 U.S. patents, and 75+ patents globally, on cannabinoid processing including extraction, distillation, and acetylation.
On behalf of the Board of Directors of the Company, Emma Andrews, CEO
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the Company's anticipated delivery of its products to provincial markets across Canada and those regarding 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 Canadian Securities Exchange has not reviewed or approved the contents of this press release.
