Nextleaf Solutions Announces Results of Annual General and Special Meeting of Shareholders

Vancouver, British Columbia--(Newsfile Corp. - December 19, 2023) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", "OILS", or the "Company"), a federally regulated manufacturer and distributor of cannabis extracts, is pleased to announce the results of the Company's annual general and special meeting of shareholders (the "Meeting") held in Vancouver, British Columbia on December 19, 2023.

At the Meeting, the shareholders resolved to:

• Fix the number of directors at four;
• Elect Emma Andrews, Sam Kassem, Fred Bonner and Sherry Boodram as directors for the ensuing year;
• Re-appoint Davidson & Company LLP as the Company's auditor for the ensuing year at a remuneration to be fixed by the directors; and
• Approve the Company's shareholder rights plan agreement (the "Rights Plan") adopted by the board of directors.

A copy of the Rights Plan is available on the Company's SEDAR+ profile at www.sedarplus.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 Vancouver-based company sells its branded products to government distributors and authorized retailers in 4 provinces in Canada. Nextleaf Labs is a low-cost producer of cannabis oils, and supplier of THC and CBD to qualified wholesale partners across Canada and internationally. Nextleaf's patented ingredient processing technology transforms unsold cannabis and hemp biomass into high-purity distillate at an industrial scale. The Company has been issued 15 U.S. patents, and 75 patents globally, on cannabinoid processing including extraction, distillation, and acetylation.

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.

For more information visit www.nextleafsolutions.com and www.Glacial.Gold.

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info@nextleafsolutions.com 604-283-2301 (Ext 205)

On behalf of the Board of Directors of the Company,

Emma Andrews, CEO

CAUTIONARY STATEMENT:

The securities described herein, if any, have not been, and will not be, registered under the United States Securities Act of 1933,as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions there from. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of Nextleaf securities in the United States. This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, future operating margins, future production and processing, processing results, and future plans and objectives of Nextleaf, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Nextleaf and its subsidiaries as a going concern, general economic and market conditions, price of biomass, the accuracy of production resource estimates, and the performance of Nextleaf's future operations. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from Nextleaf's expectations include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. For additional information with respect to risk factors applicable to Nextleaf, reference should be made to Nextleaf continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, Nextleaf CSE Listing Statement. The forward-looking information contained in this release is made as of the date of this release. Nextleaf does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. The CSE has not reviewed, approved or disapproved the contents of this press release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191731