Proactive Investors - Run By Investors For Investors

Nextleaf gains as US patent granted for cannabinoid extraction from marijuana and hemp

In addition, Nextleaf announced that it has been issued a standard patent by IP Australia, the government agency that administers intellectual property rights
A marijuana plant
The technology allows for dried cannabis to be processed into a high-purity distilled oil

Nextleaf Solutions Ltd (CSE:OILS) rose Thursday after announcing that the US Patent and Trade Office has granted a patent for its process of extraction, refinement and distillation of cannabinoids from marijuana and hemp.

The company said it is the first publicly traded entity to be issued an extraction patent. In addition, Nextleaf announced that it has been issued a standard patent from IP Australia, the government agency that administers intellectual property rights. The extraction process, according to Nextleaf, produces a tetrahydrocannabinol (THC) or cannabidiol (CBD) distillate that is tasteless, odorless and standardized for potency.

Shares of Nextleaf were up 7.7% to C$0.35 in Thursday's Canadian trading.

READ: NextLeaf Solutions debuts on Canadian Securities Exchange

Nextleaf said its patented technology allows for low-quality, dried cannabis biomass to be processed into a high-purity distilled oil, simplifying the manufacturing of differentiated cannabinoid formulations and delivery methods.

Applications for the extraction process included topicals, transdermal or sublingual delivery, vape technology, edible oils, beverages and water-soluble extracts, the company said.

"Nextleaf Solutions has succeeded in beating big pharma, big tobacco, big alcohol and every single billion-dollar cannabis company to the first issued patent for the extraction and purification of cannabinoids," Nextleaf CEO Paul Pedersen said in a statement. “We believe companies that can develop and protect valuable intellectual property will benefit substantially in the long term, especially in an industry as young as the cannabis industry.”

The company made its debut on the Canadian Securities Exchange earlier this month.

–Updates share prices–

Contact Dennis Fitzgerald at [email protected]

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full OILS profile View Profile

Nextleaf Solutions Timeline

Related Articles

A WeedMD greenhouse
January 21 2019
WeedMD produces cannabis and cannabis oil for both the medical and adult-use markets
A cannabis facility
January 10 2019
The Vancouver-based medicinal cannabis grower’s Queensland facility will be the world's largest greenhouse cannabis operation, covering a 99-acre site
cannabis leaf
May 08 2019
The company plans to leverage its portfolio of brands as well as its distribution network of more than 39,000 European pharmacies to maximize margins and profitability
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use