Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) has been granted a patent related to a chilled cannabinoid extraction process with downstream media treatment and filtration by the United States Patent and Trademark Office.

In addition, Nextleaf has been issued a patent by the Superintendency of Industry and Commerce, the Colombian government agency that administers intellectual property rights, related to the company’s industrial-scale process of extraction, refinement, and distillation of cannabinoids.

Nextleaf’s Patented Technology

The company’s patented technology allows for lower-quality dried cannabis and hemp biomass to be efficiently processed at scale into a high-purity THC and CBD distilled oil, the key ingredient used in the manufacturing of standardized cannabis 2.0 products.

Nextleaf believes that technology allowing companies to establish a low-cost competitive advantage would be a “focal point of differentiation and a key driver of long-term value” as cannabis becomes commoditized.

The company is focused on commercializing its IP portfolio through toll processing, wholesale of CBD and THC distillate, and licensing IP to partners operating in other legal markets. Management believes that Nextleaf can generate upwards of $5million-$10million in gross revenue from IP licensing alone over the next 12 months.

“Nextleaf being awarded 10 patents by four international patent offices in the key markets of Canada, Australia, Colombia, and the United States validates our technology and further reinforces our vision of developing defendable intellectual property (“IP”) that improves CBD and THC oil economics globally,” Nextleaf CEO Paul Pedersen stated.