Nextleaf Solutions’ (OILS.C) wholly owned subsidiary, Nextleaf Labs, has received an amendment to its existing Standard Cannabis Processing License from Health Canada.
“The receipt of this licence amendment marks a significant milestone for Nextleaf, our commercial partners, and our investors…The sales licence helps Nextleaf service our partners more efficiently. Speed-to-market and the ability to test products effectively are often just as important to our partners as the price per molecule…,” said Nextleaf CEO, Paul Pedersen.
Through this license amendment, Nextleaf Labs will be authorized to sell cannabis extracts, edibles, and topical products directly to provincial distributors and retailers across Canada. Prior to the amendment, Nextleaf sold its products through wholesalers, however, the Company now has a more direct path to the market. Keep in mind, Nextleaf has no plans to abandon its business-to-business operations.
Nextleaf now has the flexibility to produce and sell its own house brands which could serve as an additional revenue stream for the Company in the future.
This sales amendment, alongside our recently announced research licence amendment, and our unrivaled technology positions Nextleaf as a top tier extraction partner. Lastly, the amendment allows us to create and manufacture our own brands and add to our bottom-line revenue as the industry waits for market equilibrium in the extracts segment,” continued Paul Pedersen.
In terms of amendment licenses, Nextleaf has basically collected all of the Exodia Yu-Gi-Oh! cards. Having received its processing license, research license, human trials amendment and now its most recent sales amendment, the Company can now streamline the commercialization of its IP portfolio. Furthermore, Nextleaf will be able to offer additional brands to its partners offering increased product availability and diversity.
Nextleaf has certainly been laying the groundwork for growth in the last few months. Having just recently begun human trials for its cannabis vapes, the Company continues to gain traction as a leader in the cannabis industry. Moreover, Nextleaf’s stock performance has steadily improved in the last month following the Company’s latest announcements. With this in mind, Mr. Pendersen has stated that there will be some big announcements coming from Nextleaf in the coming weeks. Nextleaf is definitely worth keeping an eye if you’re looking for a small cap company with potential.
Nextleaf’s share price opened at $0.265 and reached a high of $0.275 at 11:20AM ET. Following the news, Nextleaf is up 1.89% and currently sits at $0.27.
