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Nextleaf provides a corporate update and comments on financial results from Q1 2021

Stockhouse Editorial
4 Comments| March 3, 2021

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Click to enlargeNextleaf Solutions Ltd. (OILS) (CSE.OILS, OTC: OILFF, Forum) has announced First quarter 2021 results. This represents Nextleaf's first full quarter generating processing revenue, with the company commencing cannabis wholesale revenue in September 2020. Nextleaf is pleased to announce record revenue (unaudited) of $1,257,000 during the quarter ended December 2020.

The revenue figure represents a 359% increase year-over-year for the same period. The Company delivered bulk sales of approximately 100 kilograms of high-purity CBD distillate to a British Columbia-based licensed producer and distributor of cannabis products. During the quarter, Nextleaf continued to add to its client roster, signing cannabis extraction agreements with three Canadian licensed producers which operate cannabis production and distribution facilities across Canada. Nextleaf has the ability to fully leverage its low-cost extraction and distillation platform by increasing its plant utilization to drive wholesale revenue.

Full news release here.


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FULL DISCLOSURE: Nextleaf Solutions Ltd. is a client of Stockhouse Publishing.


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