Cannabis Stock News: Nextleaf (CSE: OILS) Announces Glacial Gold to be Available from Coast to Coast
Vancouver, British Columbia - November 30, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", "OILS", or the "Company"), a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, is pleased to provide a commercial update on its prohibition-era brand, Glacial Gold™, including new products and additional distribution through provincial authorities.
New Glacial Gold™ Products
Three New Vapes SKUs Approved in British Columbia
Nextleaf is pleased to announce that the British Columbia Liquor and Distribution Branch ("LDB") has approved three new vape SKUs, including two new flavours: Sunshine Punch and Sparkling Grape. The Company anticipates the product will launch first in the province of British Columbia ("B.C."), followed shortly by Saskatchewan, and nationally for medical cannabis patients through www.Mendocannabis.ca ("Mendo").
Distilled CBD 100 Oil & Distilled CBD 200 Oil
Glacial Gold™ Distilled CBD 200 Oil is a first in Canada's adult-use and medical markets, with the highest amount of CBD in a single unit (5700 mg), highest potency of CBD available in an ingestible oil format (200 mg/g = 20 %), and best dollar value per milligram for CBD in Canada.
The Company has received the initial purchase order for Glacial Gold™ Distilled CBD 100 Oil and Distilled CBD 200 Oil, and expects both products to be available in December for B.C. and Saskatchewan, as well as nationally for medical cannabis patients through Mendo.
Glacial Gold™ continues to see strong sell-through and consistent demand within the first three months in market. The Company is pleased to provide the following key metrics:
- Since the initial launch of seven SKUs in September the province has accepted five additional SKUs for a total of 12 provincial listings in B.C.
- Over $1,000,000 of wholesale gross sales to the province of B.C.
- 2/3 retail penetration rate with Glacial Gold™ products already sold in more than half of B.C.'s 370+ government and private retail locations
- Top value THC vape cart in B.C. (Session Vape 1g)
- Top value 1:1 vape cart in B.C. (Anytime 1:1 Vape 1g)
- Top value CBD oil in B.C. (Distilled CBD 50 Oil 30ml)
- Top value 1:1 oil in B.C. (Distilled 30:30 Oil 30ml)
The initial vape lineup from Glacial Gold™ is offered in two potency levels to match the consumer's tolerance level or consumption occasion. The Session THC Vape features a full potency THC profile for cannabis enthusiasts who seek a more elevated experience and connection. The Anytime 1:1 Vape is formulated with a balanced THC and CBD profile for consumers looking for a more moderate, go-to vape. Flavours include Glacial Fresh Mint with refreshing alpine aromas found in the B.C. backcountry, and Berry Lemonade, reminiscent of fresh-picked berries from the Fraser Valley.
Glacial Gold™ Distilled CBD 50 Oil, Distilled THC 30 Oil, and Distilled 30:30 Oil feature high-purity distillate in a base of organic coconut MCT (medium chain triglycerides) oil for a premium consumption experience, without premium pricing. A clean tasting and neutral oil allow for the greatest flexibility in use and consumption occasions.
Nextleaf is pleased to announce the Company has been approved as a vendor with the Nova Scotia Liquor Corporation ("NSLC") to supply the province of Nova Scotia with Glacial Gold™ CBD and THC products. Nextleaf expects select products to be available in January 2022, further enhancing brand recognition and an established national presence with coast-to-coast availability.
Nextleaf is authorized by the Saskatchewan Liquor and Gaming Authority, the provincial regulator responsible for permitting and monitoring the operation of local cannabis wholesalers and retailers in Saskatchewan, and has a wholesale and distribution agreement with National Cannabis Distribution Inc. ("NCD"), a wholly-owned subsidiary of Kiaro Holdings Corp. (TSXV:KO) ("Kiaro"), for wholesale distribution and supply of Glacial Gold™ CBD and THC products in the Province of Saskatchewan. The Company expects Glacial Gold™ products to be available in Saskatchewan before the holidays.
Quebec-based Wholesale Partner
Nextleaf is pleased to announce 5 Points Cannabis, a leading Quebec-based licensed producer, as its new wholesale partner. 5 Points Cannabis has received approval to commence commercial distribution of their CBD dominant and balanced hash products in the Quebec adult-use market. Nextleaf supplies 5 Points Cannabis with CBD for formulation into their new hash products.
National Medical Cannabis Market
Glacial Gold™ CBD and THC products are available nationally to medical cannabis patients through Quebec-based www.Mendocannabis.ca. Mendo operates a Health Canada licensed online portal that ships nationwide to medical patients and veterans. Nextleaf supplies Glacial Gold CBD and THC vapes and distilled oils to Mendo for distribution to their medical cannabis clients in Quebec and across Canada.
Nextleaf is a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids. Nextleaf distributes cannabis vapes and distilled oils under its award-winning prohibition-era brand, Glacial Gold™, and supplies cannabis distillate to its wholesale customers. Nextleaf's proprietary closed-loop automated extraction plant in Metro Vancouver efficiently transforms cannabis and hemp grown in B.C. and throughout Canada into high-purity cannabis distillate at an industrial scale. Nextleaf is developing delivery technology and differentiated cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The Company owns 17 U.S. patents and has been issued 95 patents globally.
For more information please contact:
Jason McBride, Corporate Development
604-283-2301 (ext. 219)
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, 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.
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