Nextleaf Awarded U.S. Patent and Engages CannDelta for Psychedelics Dealer's Licence
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2021) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) ("Nextleaf", "OILS", or the "Company"), the world's most innovative cannabis extractor, is pleased to announce that the United States Patent and Trademark Office has granted the Company a patent pertaining to the extraction and purification of THC and CBD.
The Company believes it has developed defendable intellectual property around the most efficient methods for producing THC and CBD distillate at scale within a regulated market. Nextleaf owns 15 U.S. patents and has been issued over 80 patents globally.
"Nextleaf has developed patented technology that may improve upon the medicinal properties of a natural product that has been in use for thousands of years," said Paul Pedersen, CEO of Nextleaf. "With pharmaceutical companies beginning to enter the cannabinoid space, we believe Nextleaf's stack of intellectual property related to the production of novel psychoactive compounds will draw a lot of attention."
Engagement of CannDelta for Health Canada Dealer's Licence
Figure 1: Dr. Sherry Boodram co-founder & CEO of CannDelta
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Nextleaf is pleased to advise that its wholly owned subsidiary Nextleaf Labs Ltd. ("Nextleaf Labs") has engaged CannDelta Inc. ("CannDelta") with respect to its application for a Health Canada Controlled Drugs and Substances Dealer's Licence (a "Dealer's Licence"). Upon application submission and approval from Health Canada, the Dealer's Licence is expected to allow Nextleaf Labs to conduct a variety of activities relating to psilocybin and psilocin including R&D, IP development, production of base substance materials, laboratory analysis, as well as the sale and distribution of the substances to authorized individuals, including researchers and for its use in clinical trials.
"The decision to apply for a Health Canada licence for psilocybin follows the launch of Nextleaf's Specialty Molecules Division, which is focused on the development and commercialization of novel psychoactive compounds," said Paul Pedersen. "The Specialty Molecules Division leverages Nextleaf's existing IP related to the extraction and acetylation of cannabinoids. This team has built a track record of securing U.S. patents for the extraction, purification, and delivery of cannabinoids. I expect Nextleaf to mirror some of that success with the extraction of psilocybin," said Pedersen. "There is no better person to lead Nextleaf through the Health Canada licensing process for psychedelics than Dr. Sherry Boodram."
Dr. Sherry Boodram is the co-founder & CEO of CannDelta and has served as an independent board member of the Company since October of 2019. Prior to founding CannDelta, Dr. Boodram spent several years in the Canadian federal government, most notably with Health Canada's Medical Cannabis Program as a Senior Regulatory Compliance and Enforcement Officer. She was responsible for licensing application reviews and on-site facility inspections under the legislative regimes of the Marihuana for Medical Purposes Regulations (MMPR) and Access to Cannabis for Medical Purposes Regulations (ACMPR). Dr. Boodram holds a Ph.D. in Chemistry from York University, a B.Sc. (Hon) from the University of Toronto, a Certificate in Cannabis Law and Regulation from Osgoode Hall Law School of York University, and a Graduate Certificate with Honours in Pharmaceutical Regulatory Affairs and Quality Operations from Seneca College. Dr. Boodram is also an elected board member of the Canadian Association of Professionals in Regulatory Affairs (CAPRA).