VANCOUVER, Canada – The United States Patent and Trademark Office has granted Nextleaf Solutions its sixth US patent pertaining to a proprietary chilled cannabinoid extraction process with downstream media treatment and filtration.
Nextleaf is pleased to further announce it has been issued a patent by the Superintendency of Industry and Commerce – the Colombian government agency that administers intellectual property rights – pertaining to the Company’s industrial-scale process of extraction, refinement, and distillation of cannabinoids.
“Nextleaf being awarded 10 patents by four international patent offices in the key markets of Canada, Australia, Colombia, and the United States validates our technology and further reinforces our vision of developing defendable intellectual property (“IP”) that improves CBD and THC oil economics globally,” said Paul Pedersen, chief executive officer (CEO) of Nextleaf.
The Company’s patented technology allows for lower-quality dried cannabis and hemp biomass to be efficiently processed at scale into a high-purity THC and CBD distilled oil, the key ingredient used in the manufacturing of standardized cannabis 2.0 products. OILS believe that as cannabis becomes commoditized, proprietary technology which allows companies to establish a low-cost competitive advantage will become a focal point of differentiation and a key driver of long-term value.
“As more governments around the world move to legalize cannabis, we expect to see large multi-national companies, including tobacco and pharmaceutical companies, acquire IP in order to protect their rights as part of their broader strategy to dominate the global market for legal cannabinoid-based products,” stated Pedersen. “Recent acquisitions by large players in the sector are evidence of the potential for significant shareholder value creation through the formalization and protection of IP.”
The Company is focused commercializing its IP portfolio through toll processing, wholesale of CBD and THC distillate, and licensing IP to partners operating in other legal markets. Management feels there is significant value in the Company’s IP and has had advanced discussions with a number of strategic parties regarding IP licensing. Management believes over the next 12 months, Nextleaf can generate upwards of $5MM-$10MM in gross revenue from IP licensing alone.