- Nextleaf Solutions (OILS) has completed the acquisition of IP relating to the nano-delivery of cannabinoids in cannabis-infused edibles and drinks
- The technology will allow consumers to feel the desired effects of products in less than 10 minutes
- Total consideration of 937,500 common shares in Nextleaf will be issued to the developers of the technology
- Nextleaf shares are currently up 1.56 per cent to C$0.32, with a market cap of C$35.14 million
Nextleaf Solutions (OILS) has completed the acquisition of intellectual property related to the nano-delivery of cannabinoids in CBD and THC-based beverages.
The proprietary delivery system, which has been 10 years in the making, increases the speed at which the effects of THC, CBD and other cannabinoids are felt by consumers of cannabis-infused edibles and beverages.
In most cases, cannabis-infused products take anywhere from 30 to 60 minutes for the consumer to feel the desired effects.
“The intellectual property we’ve acquired allows consumers to feel the desired effect from cannabinoid infused drinks and edibles in under 10 minutes,” said Nextleaf CEO, Paul Pedersen.
“We are excited to commercialize this game changing technology by supplying water-soluble THC and CBD solutions through our private label program.”
The company currently has a patent allowance success rate of 100 per cent, compared to the wider cannabis industry’s rate of just 30 per cent, and plans to seek protection for the newly acquired intellectual property.
“For the past three years our team has focused on developing efficient, patented extraction technology to put distilled cannabinoids into IP-protected delivery formats such as beverages and edibles,” continued Pedersen.
A team of chemical engineers, who were the original developers of the cannabinoid delivery technology, will be issued 937,500 common shares in Nextleaf as consideration for the deal.
The issuance of the shares, however, will be dependent on the completion of the second and final milestones as outlined in the agreement.
Nextleaf shares are currently up 1.56 per cent to C$0.32, with a market cap of C$35.14 million.