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Nextleaf makes first shipment to Ontario and provides BC market update

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Glacial Gold” is the best-selling CBD vape in British Columbia

Nextleaf has become the second supplier of CBD oils in British Columbia

Vancouver, British Columbia–(Newsfile Corp. – April 20, 2022) – Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Next sheet“, or the “Company“), a federally regulated manufacturer and distributor of cannabis vapes and oils, announced today that it has completed its initial shipment of icy gold” vapes and distilled oils at the Ontario Cannabis Store (“SCO“), and provided an update on its cannabis sales in British Columbia (“Before Christ“).

Wholly owned by the Province of Ontario, OCS is the sole distributor in the province and all cannabis retailers in Ontario must purchase their inventory through OCS. Vapes and distilled oils under the name of the Company award-winning brand from the prohibition era, icy gold” will be available in Ontario retail stores and on in early May 2022.

“The shipment of our initial order to OCS is a significant milestone as we look forward to growing our relationship with the provincial distributor by delighting consumers in Ontario as we have delighted consumers in British Columbia with quality products at accessible prices,” said Nextleaf CEO and co-founder Paul Pedersen.

British Columbia market1

icy gold” continues to see strong consumer demand and sales in the brand’s first six months in the BC market. Nextleaf is pleased to provide the following key indicators in British Columbia for the quarter ended March 31, 2022:

  • Nextleaf is a top 10 vape and oil supplier
  • icy gold” Anytime 1:1 is the best-selling pre-CBD vape SKU
  • icy gold” is the #2 brand in CBD and balanced oils by revenue
  • icy gold” is the #6 1-gram vape brand by revenue
  • 44% increase in market share quarter over quarter in the petroleum category
  • 14% increase in market share quarter over quarter in the vape category
  • icy gold” has seven SKUs in the 1 gram vape subcategory, second among all brands

icy gold” continues to outsell the top brands in Canada in the key vape and CBD oil categories. During the first quarter of 2022, Nextleaf sold more vapes and oils in British Columbia than Canopy Growth, Tilray Brands, Aurora Cannabis, The Valens Company, Medipharm Labs, Sundial Growers and TerrAscend. “Nextleaf’s patented technology has allowed Glacial Gold to outperform some of the world’s largest regulated cannabis companies in CBD vapes and oils,” Pedersen said.

Nextleaf has been awarded 10 US patents for what it considers to be the most efficient technology for producing high purity cannabinoid distillate in a regulated market.

Glacial Gold” Display at Kiaro in Port Moody, British Columbia

To view an enhanced version of this image, please visit:

Learn more at www.Glacial.Gold

Nextleaf issues shares and options

Nextleaf issued an aggregate of 866,741 common shares at a deemed price of $0.135 per share to the Company’s scientific and technical consultants, as compensation for services rendered.

The Company has granted non-executive employees of the Company options to purchase up to 70,000 common shares of the Company under the Company’s stock option plan, exercisable at a price of 0.175 $ per share.

The Company has issued 500,000 warrants to purchase common shares of the Company to the bearer of the convertible note issued on March 31, 2021 (the “Note”). The warrants were issued in consideration for the revised terms of the note and are exercisable at a price of $0.162 per share for a period of 36 months from the date of issue.

About Nextleaf®

Nextleaf is a federally regulated manufacturer and marketer of cannabis vapes and oils under its award-winning Prohibition-era brand, Glacial gold”. The company’s multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate on an industrial scale. Nextleaf is a producer of low cost cannabis oils and supplier of THC and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be awarded a US patent for the industrial extraction and purification of cannabinoids. The company has been granted 18 US patents and over 90 worldwide patents on cannabinoid processing, including distillation and acetylation. Nextleaf develops proprietary cannabinoid-based formulations and delivery technology through its Health Canada research license with sensory evaluation of cannabis through human testing. For more information visit and www.Glacial.Gold

Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB market in the United States and L0MA on the Frankfurt Stock Exchange.

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Jason McBride, Business Development
604-283-2301 (ext. 219)
[email protected]

On behalf of the Company’s Board of Directors,
Paul Pedersen, CEO

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical facts contained in this press release, including, without limitation, those regarding the Company’s ability to capitalize on its intellectual property portfolio, the receipt of the licensee in expected timelines or not at all, activities the Company expects to conduct if the reseller license, the Company’s ability to develop and protect intellectual property relating to psychedelics, the expected benefits to the Company if the license reseller license is received, the reseller license helping the company to obtain a unique position for the company to develop a series of standardized herbal medicines, the Company’s strategy, plans, objectives, goals and targets, and any statement preceded, followed by or including the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “fly a”, “may”, “would”, “anticipate”, “estimate”, “anticipate”, “predict”, “project”, “seek”, “should” or similar expressions or their negative, are forward-looking statements. These statements are not historical facts but rather represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or anticipated in such forward-looking statements. Other factors that could cause actual results, performance or achievements to differ materially include, but are not limited to, the risk factors discussed in the Company’s MD&A for the fiscal year most recent. Management provides forward-looking statements because it believes they provide useful information to investors in considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Accordingly, any forward-looking statements made in this press release are qualified by such cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will be achieved or, even they are substantially achieved, that they will have the expected consequences or effects on the Company. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update or revise them to reflect subsequent or other information, events or circumstances, except as required by law. CSE has not reviewed or approved the contents of this press release.

1 British Columbia market share based on BC Cannabis wholesale data (January to March 2022).

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