- Nextleaf Solutions Ltd. (OILS) has been given a patent by the Jamaica Intellectual Property Office, and issues warrants for nearly $70,000
- The process creates a tasteless and odourless product in a cost-effective way
- Nextleaf stated its patent strategy will protect its intellectual property worldwide
- The company currently has 18 U.S. patents and over 95 international patents
- Due to a revision, 500,000 warrants were issued to purchase common shares from the holder of the convertible note
- Nextleaf Solutions Ltd. (OILS) is up 5.56 per cent and is trading at $0.09 per share as of 3:47 p.m. ET.
Nextleaf Solutions (OILS) has received a patent from the Jamaica Intellectual Property Office, and has issued warrants for nearly $70,000.
The patent is for the company’s high-purity CBD and THC processing.
Nextleaf’s patented technology efficiently processes oil-grade cannabis and hemp flower into high-purity distilled cannabinoids. The resulting product is tasteless, odourless, and ready to use for vapes, oils, softgels, transdermal or sublingual delivery, and water-soluble extracts.
“This patent reinforces our vision of developing intellectual property that improves cannabis oil economics globally… there will be a regulated commercial market for cannabinoid-based products in Jamaica during the 20-year life of this patent,” Paul Pedersen, co-founder and CEO of Nextleaf, said.
The company currently has 18 U.S. patents and over 95 international patents on cannabinoid processing including extraction, distillation, and acetylation.
Nextleaf reported it files its patents in the U.S. to create a priority date and allow for future filings in other selected jurisdictions. It uses a global intellectual property strategy to protect its cannabinoid-based products at scale within a regulated market.
The company has issued 500,000 warrants to purchase common shares from the holder of a convertible note issued in March of last year.
This issuance was due to a revision of terms for the convertible note and can be exercised for $0.138 per share for a three-year period.
Nextleaf Solutions Ltd. (OILS) is up 5.56 per cent and is trading at $0.09 per share as of 3:47 p.m. ET.