Nextleaf Solutions Ltd (CSE: OILS) has signed an extraction agreement with an Ontario cannabis producer, which will see the producer utilize its licensed greenhouse for cannabis cultivation to be further processed by Nextleaf.
As per the agreement, the cannabis producer will cultivate cannabis for Nextleaf, who will then further process and refine the flowers into CBD oils and distilled THC. Then, the refined product will be sold to wholesalers for further distribution to the cannabis market, with sale proceeds divided between Nextleaf and its cultivating client.
The agreement has a duration of one year or once 15 metric tons of cannabis flower has been produced – whichever occurs first. The agreement will automatically renew by each yearly term thereafter. Nextleaf is anticipating that this agreement has the possibility to generate approximately $16 million in gross revenue for the company.
Nextleaf Solutions Ltd is a Canadian cannabis extraction company, focused on distilling THC and extracting CBD oils for further processing. The company is currently trading at $0.18 on the CSE.
Information for this briefing was found via Sedar and Nextleaf Solutions Ltd. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.