Nextleaf Licenses U.S. Patent to Hempcrete Natural
Nextleaf's patented hemp technology may reduce the cost of cement production
Nextleaf to present at Canaccord Genuity's 6th Annual Cannabis Conference
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2022) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf" or the "Company"), a federally regulated manufacturer and distributor of cannabis vapes and oils, is pleased to announce that it has entered into a strategic agreement (the "Agreement") with Hempcrete Natural Building Ltd. ("Hempcrete Natural"), an international construction company creating carbon neutral communities through sustainable, renewable, and stronger buildings.
The Agreement permits Hempcrete Natural, on a non-exclusive basis, to commercialize certain Nextleaf intellectual property, specifically, a U.S. patent related to hemp biomass processing.
Hemp ash processed using Nextleaf's patented technology shows promise as a key ingredient and replacement for fly ash in the manufacturing of Portland cement. Research suggests Portland cement production is responsible for 2-3% of global energy use and approximately 5% of man-made CO2 emissions.
Government funded R&D led by Nextleaf Engineering Manager, Dr. Krupal Pal, PhD, P.Eng., demonstrated superior performance of hemp ash as both a valorized biofuel and as a cementitious material. Dr. Pal co-authored, with leading academics, a research paper titled 'Hemp Waste Valorization as Biofuel and Cement Replacement in Cement and Concrete Production' which can be accessed here.
When leveraged as a biofuel during hemp ash production, power is generated, and metric tonnes of biomass can be diverted from landfills and used as a supplementary cementitious material. Current estimates indicate close to a billion kilograms of biomass being harvested annually by the marijuana and hemp industry with tonnes of waste sent to settlement pits and landfills.
"Nextleaf identified carbon lifecycle management as an opportunity to reduce greenhouse gas emissions while launching a new vertical. We are excited to license our technology to a team of subject matter experts with decades of experience with hempcrete building materials," said Nextleaf CEO and co-founder Paul Pedersen.
Nextleaf to present at Canaccord Genuity's 6th Annual Cannabis Conference
Nextleaf CEO Paul Pedersen will be presenting at Canaccord Genuity's 6th Annual Cannabis Conference on May 11, 2022, at 8:00 AM Eastern Time. For more information about joining this virtual event, please visit: https://www.canaccordgenuity.com/capital-markets/about-us/events/cg-2022-us-cannabis-symposium/
The Company's award-winning prohibition-era brand, Glacial Gold™, outsold Canada's largest cannabis producers in the oil and vape category in British Columbia during Q1 2022. Glacial Gold™ Anytime Vape is the #1 selling CBD forward vape SKU in B.C. Nextleaf has developed a competitive advantage in the production of cannabis oil by leveraging its patent stack to control the cost and quality of the ingredients used to manufacture vapes and oils. Nextleaf has been issued 10 U.S. patents for what the Company believes to be the most efficient technology to produce high-purity distilled cannabinoids in a regulated market.
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About Hempcrete Natural Building Ltd.
Hempcrete Natural is a British Columbia based, international construction company focused on building carbon neutral communities and affordable housing to create a more sustainable future. Hempcrete Natural removes petrochemicals from the construction process by replacing them with fibre-reinforced lightweight concrete, free of concerns such as pests, mould, and fire. With over 20 years of experience and a network of strategic partners for supply chain needs, Hempcrete homes use 60% less energy, are less expensive to build, and last for multiple generations. For more information visit: www.hempcrete.ca
About Nextleaf Solutions Ltd.
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 supplier of 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 18 U.S. patents, and over 95 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops cannabinoid-based formulations and proprietary 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 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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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" 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 intellectual property("IP"), expected IP licensing revenues, 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.
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