Nextleaf granted another US patent as it applies for dealer’s license in Canada

Nextleaf Solutions Ltd (CSE:OILS) (OTCQB:OILFF) (FRA:L0MA) announced that the US Patent and Trademark Office has granted another patent to its already expanding US portfolio, with the latest pertaining to the extraction and purification of THC and CBD.  Nextleaf believes it has developed defendable intellectual property (IP) around the most efficient methods for producing THC and CBD distillate at scale within a regulated market. The company is a low-cost producer of cannabis distillate and private label THC & CBD oils through its wholly-owned subsidiary Nextleaf Labs Ltd. It owns 15 US patents and has been issued over 80 patents globally.  READ: Nextleaf launches Specialty Molecules Division to develop and commercialize novel psychoactive compounds "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," CEO Paul Pedersen said in a statement. "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.” Nextleaf also advised that Nextleaf Labs has engaged CannDelta, a leading regulatory and scientific cannabis consulting firm, with respect to its application for a Health Canada Controlled Drugs and Substances dealer's license. Upon application submission and approval from Health Canada, the dealer's license 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. Pedersen said the decision to apply for a Health Canada license for psilocybin followed the launch of its Specialty Molecules Division, which is focused on the development and commercialization of novel psychoactive compounds. "The Specialty Molecules Division leverages Nextleaf's existing IP related to the extraction and acetylation of cannabinoids,” Pedersen added. “This team has built a track record of securing US patents for the extraction, purification, and delivery of cannabinoids. I expect Nextleaf to mirror some of that success with the extraction of psilocybin." Contact the author at stephen.gunnion@proactiveinvestors.com