Business
Nextleaf Announces Q1 Results and Provides Commentary
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Nextleaf Solutions Ltd. ( CSE: OI...
About this update from Nextleaf Solutions Ltd.
[{"type":"text","content":"Nextleaf Announces Q1 Results and Provides CommentaryVancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (\"Nextleaf\", \"OILS\", or the \"Company\"), a federally regulated manufacturer and distributor of cannabis extracts, has released its Q1 financial statements for the quarter ended December 31, 2022. Nextleaf is pleased to provide selected financial highlights and milestones achieved:Generated positive cashflow from operationsRevenue increased 24% from Q1 last yearOperating expenses decreased 63% from Q1 last yearGlacial Gold™ was the #1 selling brand of CBD vape in British Columbia, with over 39% market share \"Nextleaf has established itself as one of the top producers of cannabis vapes and oils. I'm proud of our team for competing head-to-head against the largest and most well capitalized cannabis companies in the world and winning our key categories. We believe it's a validation of Nextleaf's intellectual property stack, with 10 U.S. patents covering the most efficient methods for producing high-purity cannabinoids within a regulated market,\" said Nextleaf CEO, Paul Pedersen.Cannot view this video? Visit:https://www.youtube.com/watch?v=Q-B8Y4NQsfsCommercial Highlights During Q1Glacial Gold™ Anytime Vape was the #1 selling CBD vape SKU in British Columbia.Glacial Gold™ was the #3 selling brand of cannabis oil in British Columbia.Entered the cannabis softgel market as the #4 selling brand in B.C. Nextleaf launched Glacial Gold™ THC Softgels in 50-pack large format (500 mg of THC), and 10-pack trial size (100 mg of THC) to address the market for edible cannabis products by offering better value (price per dose) versus traditional edibles like gummies, which are restricted to a maximum 10mg THC per package by Health Canada.Nextleaf launched its new High Plains™ brand with a lineup of high-flavour vape SKUs. High Plains™ currently holds the market leading value price point for THC vapes in British Columbia. High Plains™ was launched to address the demand from Government Distributors for value priced THC vapes with popular botanical fruit flavours. The Company differentiates its Glacial Gold™ branded vapes with premium ingredients and all natural flavours. The Company entered the Newfoundland and ...