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Nextleaf Solutions wins a pair of cannabinoid extraction patents

The company now has six patents in the US and 10 in total around the world

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Nextleaf’s technology enables lower-quality dried cannabis and hemp biomass to be processed at scale into high-purity THC and CBD distilled oil

Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) has been awarded two patents related to extraction of THC and CBD, bringing its total issued patents to ten.

The company received a patent from the US Patent and Trademark Office, its sixth from the agency, pertaining to its proprietary chilled cannabinoid extraction process with downstream media treatment and filtration.

The other patent came from the Superintendency of Industry and Commerce, the Colombian Government agency that administers intellectual property rights, covering Nexleaf’s industrial-scale process of extraction, refinement, and distillation of cannabinoids.

READ: Nextleaf Solutions says its distillation plant on pace to be completed by end of this month

"Nextleaf being awarded 10 patents by four international patent offices in the key markets of Canada, Australia, Colombia, and the United States validates our technology and further reinforces our vision of developing defendable intellectual property that improves CBD and THC oil economics globally," CEO Paul Pedersen said in a statement.

Nextleaf’s technology enables lower-quality dried cannabis and hemp biomass to be processed at scale into high-purity THC and CBD distilled oil. The company said it believes that its proprietary technology will help establish a low-cost competitive advantage.

"As more governments around the world move to legalize cannabis, we expect to see large multinational companies, including tobacco and pharmaceutical companies, acquire IP in order to protect their rights as part of their broader strategy to dominate the global market for legal cannabinoid-based products," Pedersen said. "Recent acquisitions by large players in the sector are evidence of the potential for significant shareholder value creation through the formalization and protection of IP."

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Nextleaf Solutions

Price: 0.335 CAD

CSE:OILS
Market: CSE
Market Cap: $33.95 m
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on 10/21/2019

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