Nextleaf Solutions Ltd C.OILS

Alternate Symbol(s): OILFF

Healthcare Cannabis Health Care

Nextleaf Solutions Ltd. is a cannabis processor with a portfolio of federally regulated emerging consumer brands, market validated cannabis derivative products, and high-potency bulk ingredients. The Company’s multi-patented, highly automated, closed loop extraction, and distillation technology sets the global standard for processing cannabis at scale. The Company manufactures over 80 different products, across four categories for white label clients and house brands. It manufactures and distributes cannabis vapes and oils under multiple brands including its brand, Glacial Gold, and the High Plains brand. The Company sells its branded cannabinoid vapes, oils, and soft gels to the British Columbia Liquor Distribution Branch (BCLDB), Ontario Cannabis Store (OCS), Nova Scotia Liquor Commission (NSLC), Manitoba Liquor & Lotteries (MBLL) National Cannabis Distribution in Saskatchewan, and across Canada through multiple medical platforms, select pharmacies, and a distribution agreement.

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Nextleaf Solutions Ltd > BevCanna deal

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Comment by LastoftheFrankson Mar 05, 2021 9:20am

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Post# 32726563

RE:RE:BevCanna deal

Please post your sources of these rumors other than "I'm hearing things" and have you ever considered the possibility that Sproutly's former management left that company because Sproutly is broke, couldn't pay staff, and is rapidly diluting its shares?

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3rd Q financials: https://www.sedar.com/CheckCode.do

As of November 30, 2020, the Company had a working capital deficit of $9,999,889 (February 29, 2020 - $8,322,410) and an accumulated deficit of $81,836,488 (February 29, 2020 - $76,909,764). During the nine months ended November 30, 2020, the Company used cash in operating activities of $982,719 (nine months ended November 30, 2019 - $5,272,228), resulting primarily from the net loss and comprehensive loss of $4,926,724 (nine months ended November 30, 2019 - $7,446,869) offset by items not affecting cash such as depreciation, amortization and stock based compensation of $3,944,005 (nine months ended November 30, 2019 - $2,174,641). The Company’s ability to continue as a going concern is dependent upon its ability to obtain sufficient additional funding and to generate sufficient revenues and positive cash flows from its operating activities to meet its obligations and fund its planned investments and operations.

https://ca.finance.yahoo.com/news/sproutly-announces-financial-results-third-210000799.html

The Company amended the maturity date of its previously issued convertible debentures from October 24, 2020 to April 24, 2021 and reduced the conversion price from $0.105 to $0.06 per share.
The Company and Infusion Biosciences Inc. ("Infusion") extended the maturity dates of both the $1 million private loan issued by Infusion to the Company on January 28, 2020, and the $855,000 private loan issued by Infusion to the Company on August 27, 2020, by six months to April 24, 2021.
The Company settled an aggregate of $182,340 of payroll indebtedness owed to certain current and former employees for past services rendered through the issuance of 2,604,867 common shares at a deemed issuance price of $0.07 per share.
The Company settled an aggregate of approximately $69,300 of indebtedness owed to one arms-length creditor for past services rendered through the issuance of 1,386,000 common shares at a deemed issuance price of $0.05 per share.