Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) has won a US patent for its proprietary technology that improves the post-extraction processing of THC and CBD, the group said in a statement on Tuesday.
The patent is the cannabis company’s fourth one in the US and fifth overall, it added.
Nextleaf said its newest patent integrates a process by which brine is introduced to the crude cannabis oil to efficiently remove water-soluble compounds, impurities, and any other trace elements.
The result is a highly pure input, leading to faster processing times for further patented post-extraction processing. That results in a lower cost per milligram for the highly refined THC or CBD concentrate.
READ: Nextleaf ties the bow on a pair of federally-funded cannabis extraction R&D projects in Canada
Earlier this month, the company won another US patent for the removal of fats and waxes from the crude oil, and will apply this technology to a variety of primary extraction methods, such as Co2 or ethanol.
"It has been our vision since inception that intellectual property would become a key differentiator and value creator in the cannabis industry," said Nextleaf's CEO Paul Pedersen.
"With five issued and 25 pending patents covering what we believe to be the most efficient method of extraction and purification of cannabinoids, Nextleaf is well positioned to monetize our intellectual property as we move into Cannabis 2.0 in Canada and beyond,” he added.
The Vancouver-based company said it remains focused on acquiring, developing, and patenting the industry's most advanced market-proven technology, equipment, and processes around the extraction and purification of cannabinoids.
Nextleaf’s patented process yields a tasteless, odorless THC or CBD distillate, manufactured at scale, standardized for potency, and ready for infusion in value-add products, such as vapes, edible oils, and beverages.
The infused-product industry is projected to be a $2.7 billion market annually in Canada, driven largely by shifting consumer preferences from dried flower to edibles, vapes and concentrates.
The company's stock recently traded flat at C$0.60 a share in Canada but rose 2% to US$0.46 a share on the OTC Market.
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