Nextleaf Solutions Ltd (CSE:OILS, OTCQB:OILFF) told investors that it has become a Top 10 supplier of cannabis vapes and oils in British Columbia through its Glacial Gold products.
The company said Glacial Gold continues to see strong sell-through and consistent demand throughout its first 90 days in the market.
Glacial Gold is the number seven brand in oils sales and the eighth-most popular brand in vape cartridges by unit, the company said, adding that it has multiple products in the top 20 bestselling SKUs (stock-keeping units) in British Columbia within the vape and oils categories.
READ: Nextleaf Solutions says its new Glacial Gold products will soon be available coast to coast in Canada
"Glacial Gold is capturing market share with our portfolio of large format vape and oil products," Nextleaf co-founder and CEO Paul Pedersen said in a statement.
"By leveraging Nextleaf's competitive advantage producing low-cost, high-purity distillate on an industrial scale, we are able to offer Glacial Gold CBD and THC products at disruptive price points.”
Nextleaf said it has been issued 10 US patents pertaining to the methods and technology for efficiently producing high-purity cannabinoid distillate in a regulated market.
It added that Glacial Gold CBD and THC distillates are produced through the company's patented, automated closed-loop, chilled-alcohol extraction plant at Nextleaf Labs Ltd, a Health Canada licensed processing facility in British Columbia.
The company said it has shipped an initial order of Glacial Gold products to its distribution partner in Saskatchewan and expects nine Glacial Gold CBD and THC vapes and distilled oils to be available at private cannabis retailers across Saskatchewan by the end of December 2021.
It also received its first purchase order from the Nova Scotia Liquor Corporation and expects select Glacial Gold products to be available across Nova Scotia in the new year.
The company noted that Glacial Gold Distilled CBD 200 Oil is a first in Canada, with the highest amount of CBD in a single unit (5,700 mg), highest potency of CBD available in an ingestible oil format (200 mg/g = 20%), and best dollar value per milligram for CBD in Canada.
Nextleaf said it has completed its first shipments of Glacial Gold Distilled CBD 100 Oil and Distilled CBD 200 Oil and expects both products to be available by the end of December 2021 at BC Cannabis Stores and private cannabis retailers across British Columbia and Saskatchewan.
A federally regulated producer of cannabis oil, Nextleaf Solutions owns one of the largest portfolios of US patents for the extraction and distillation of cannabinoids. The company distributes cannabis vapes and distilled oils under its award-winning prohibition-era brand, Glacial Gold, and supplies cannabis distillate to its wholesale customers.
Contact the author at stephen.gunnion@proactiveinvestors.com