Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) completed the acquisition of intellectual property related to water-soluble cannabinoid formulations, the company announced Thursday.
The intellectual property includes the foundational processing methodology and two water-soluble formulations.
Nextleaf told investors Thursday that it believes the critical driver for the success of cannabis-infused drinks and edibles involves onset time, or how long it takes for the consumer to feel the desired effect from the product.
"The intellectual property we've acquired allows consumers to feel the desired effect from cannabinoid-infused drinks and edibles in under 10 minutes,” said Paul Petersen, Nextleaf’s CEO.
“We are excited to commercialize this game-changing technology by supplying water-soluble THC and CBD solutions through our private label program.”
Nextleaf said it plans to patent the acquired IP and develop a new patent family. The company currently has a success rate of 100% on its patent applications, which is far higher than the cannabis industry’s average of less than 30%, according to data provided by Nextleaf.
The company remains committed to developing and monetizing its intellectual property portfolio through IP licensing, and supplying THC and CBD oils under private label through Nextleaf Labs, a Health Canada licensed Standard Processor, it told shareholders.
The developers behind the acquired IP combine expert chemical engineering with tenured experience from one of the largest Canadian dairy product manufacturers, Nextleaf told shareholders. The firm will issue the developers 937,500 NextLeaf shares at a price of $0.32 per share in exchange for the IP.
Nextleaf has patented cannabis extraction technology, which is both scalable and repeatable. The new technology boosts the creation and formulation of premium-infused products consistently at mass-market scale.
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