Vancouver, British Columbia–(Newsfile Corp. – December 22, 2021) – Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf“, “OILS“, or the “Company“), a federally regulated producer of cannabis oil that distributes cannabis vapes and oils under its prohibition-era brand, Glacial Gold, is pleased to announce the closing of its previously announced marketed public offering (the “Offering“) of units of the Company (the “Units“). Pursuant to the Offering, the Company issued 15,844,208 Units at a price of $0.20 per Unit (the “Offering Price“) for aggregate gross proceeds of $3,168,841.60 including the partial exercise of the over-allotment option. Research Capital Corporation is acting as sole agent and sole bookrunner (the “Agent“) on a best efforts basis pursuant to the filing of a prospectus supplement dated December 15, 2021 (the “Supplement“) to the Company’s short form base shelf prospectus dated November 23, 2021 (the “Prospectus“).

Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share“) and one common share purchase warrant (each, a “Warrant“). Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.275 per Common Share until December 22, 2023.

The Company intends to use the net proceeds of the Offering for the procurement and delivery of its cannabis products to various provincial markets nationally, for the partial repayment of principal and interest on a senior secured convertible note of the Company, for general and administrative expenses and for working capital and general corporate purposes.

In connection with today’s closing, the Company paid the Agent and certain members of the selling group an aggregate cash commission of $183,835.25, issued the Agent and certain members of the selling group an aggregate of 849,504 non-transferable broker warrants (the “Broker Warrants“), and issued the Agent an aggregate of 500,000 Common Shares as a corporate finance fee. Each Broker Warrant entitles the holder thereof to acquire one Unit at an exercise price equal to the Offering Price at any time prior to 5:00 p.m. (Toronto time) on the expiry date of the Warrants.

Insiders of the Company purchased an aggregate of 300,000 Units under the Offering, which constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The issuance to the insiders is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units issued to or the consideration paid by such insiders did not exceed 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

Copies of the Supplement and the Prospectus are available on the Company’s SEDAR profile at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be registered under the U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from such registration requirements.

About Nextleaf®

Nextleaf is a federally regulated producer, manufacturer, and distributor of cannabis vapes and distilled oils under its prohibition-era brand, Glacial Gold. The Company’s multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale. Nextleaf supplies THC and CBD oils to qualified wholesale partners across Canada. The Company develops proprietary delivery technology and cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. Nextleaf owns 17 U.S. patents and has been issued over 95 patents globally.

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.

Follow the Company across social platforms: Twitter, LinkedIn, Facebook, and Instagram.
www.nextleafsolutions.com

Follow Glacial Gold across social platforms: Instagram, Twitter, and Facebook. www.Glacial.Gold

For more information please contact:
Jason McBride, Corporate Development
604-283-2301 (ext. 219)
[email protected]

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

Forward Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the closing of future tranches of the Offering, the use of proceeds of the Offering, the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead 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 forecasted in such forward-looking statements. Additional 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 most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The Canadian Securities Exchange has not reviewed or approved the contents of this press release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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Caliva broadens its cannabis delivery reach and service offering. 

License No: C10-0000441-LIC

Legend has it the first pizza delivery occurred in 1889 when Queen Margherita of Italy stopped in Naples during a trip. Looking to enjoy local fare, which meant pizza, the queen’s band tracked down the godfather of modern pizza, Raffaele Esposito, to bake and personally deliver a fresh pie to her doorstep.

Fast-forward more than 130 years later, and home delivery is as popular as ever, including cannabis products. One such company that’s been at the forefront of Bay Area cannabis delivery from the start is Caliva, and up through August 24, its process had been akin to the traditional pizza delivery model: place an order online or over the phone, and the cheesy deliciousness arrived as soon as the establishment could get it to you. 

While Caliva still offers this facility-to-doorstep delivery, it recently launched an Instacart-like service so cannabis connoisseurs can schedule the exact day and time they desire their products. In addition, the company has expanded its Bay Area footprint to include previously underrepresented cities and counties for additional convenience.

Cannabis on your terms

Caliva’s new and enhanced delivery seeks to provide patrons with multiple options to fit their needs.

The company has enabled customers to order online for in-store retrieval for years, and curbside pickup gained popularity when the virus put the Bay Area on lockdown. Those orders had to be picked up by the following closing day at the latest; otherwise, the items were returned to the shelves. With Caliva’s new offering, customers can schedule up to a week in advance for delivery of the products they desire, similar to DoorDash for dining.

The company also launched Mobile Express Delivery in May. Currently available on the Peninsula with Bay Area expansion soon planned, the mobile service allows customers to order products from a preselected menu of top selling products for delivery within the hour.

Bay Area expansion

While delivery has enabled the Jay-Z- and Joe Montana-backed company to provide its offerings throughout the Bay Area, it’s expanding into more regions this summer.

Its San Jose hub now provides scheduled delivery to Hayward, Pleasanton, Walnut Creek, Berkeley/Oakland, Gilroy/Morgan Hill and Santa Cruz. The Brisbane hub now covers Marin and coastal communities.

The expansion should be a boon for cannabis-delivery deserts. Areas such as the Peninsula, Walnut Creek, Marin, coastal areas and others tend to have limited access to dispensaries. Caliva’s cannabis delivery options could prevent these customers from making arduous and special trips to far-reaching cities.

“We’re all about convenience and accessibility at Caliva. We know that cannabis can be intimidating or confusing for some customers, so we’re doing everything we can to make the purchasing and ordering process as easy as possible, which is why we’re so excited about the launch of our Scheduled Delivery Service,” said Steve Allan, Caliva President. “Not only is this a new offering for our current customers, but we’re able to provide this service in 96 new cities across the state, meaning we can now deliver our products to new patrons that we couldn’t reach before, covering almost 50% of California’s population. We’re looking ahead to the rollout of our next innovative offerings: Mobile Express and drive-up services, which will give customers two additional avenues for accessing our products.”

Complete cannabis connoisseurs

While Mobile Express Delivery and Bay Area expansion are new, Caliva’s claim as one of the largest and most comprehensive cannabis providers in California is not hyperbole.

After opening its doors in 2015, Caliva’s menu offers an extensive selection of bestselling brands and products across all categories, including its expanding lineup of first-party products. These proprietary products derive from Caliva’s homegrown indoor flower that uses natural organic practices tested for compliance and safety.

Half a decade’s worth of experience bodes well for novice and veteran cannabis consumers alike. The company employs remote consultants available via phone calls or video chats to answer questions and provide suggestions. There’s also a customer service live chat option on the website for order issues.

Compelling data back Caliva’s assertion as the most comprehensive dispensary in California. In 2020, it expanded its in-house, direct consumer delivery services to include almost 20 counties and more than 220 cities throughout the Bay Area and Los Angeles. This means approximately 5 million more consumers, or nearly half of the state’s population, have home delivery at their fingertips.

And back home at its flagship store in San Jose, one of the first cities in the nation to shelter in place and institute strict social-distancing guidelines, a drive-up service launched on Labor Day weekend to give patrons an additional means for accessing items in the safest manner possible.

The drive-up service, while currently functional and eventually open from 11 AM to 7 PM once fully up and running, is another way Caliva provides “cannabis on your terms.” Without leaving your car, drive-up is a safe and convenient avenue for consumers to access cannabis while respecting social distancing guidelines but still getting full customer service benefits.

The company said it continues to look for innovative ways to make cannabis- and wellness-product shopping just as comfortable and familiar as traditional drive-through experiences.

From life-threatening viruses to raging wildfires to skyrocketing unemployment, 2020 is testing the human spirit in unimaginable ways. One such symptom of this year’s chaos is maintaining proper mental health as bad news continually wafts through televisions sets like a skunk’s scent from a bedroom window.

Anxiety and depression are running amok. Some studies discovered that “In mid-July, 53% of adults in the United States reported that their mental health has been negatively impacted due to worry and stress over the coronavirus. This is significantly higher than the 32% reported in March.”

With so much uncertainly swirling about, how are CBD, anxiety and depression intertwined, and how can cannabidiol products help during such trying times?

CBD and Anxiety

In 2011, a study reported that CBD possessed the power to reduced anxiety during public speaking for those anxious in social situations. How was that possible?

CBD aids the neurotransmitters already bouncing around your brain by promoting the release of serotonin. It’s a potential alternative to sketchy “happy pills” like Prozac, and you can purchase it at outlets as popular as Whole Foods.

No grocery stores in your area with CBD items? No worries. Products are legal to ship to your doorstep in the United States.

CBD and Depression

CBD can help with depression, similar to relieving anxiety issues. Early studies on canines and CBD showed great promise in raising low serotonin levels.

Science has only progressed in purporting that CBD has incredible antidepressant effects, but it’s always smart to speak with your doctor about your unique situation, including how many milligrams to begin with and any potential side effects.

Say Goodbye to Insomnia

Pandemic or not, you know full well how difficult everyday tasks are following a night of fitful sleep, and a lack of solid slumber can exasperate anxiety and depression.

To maximize your chances of saying goodnight to insomnia, check out products consisting of tinctures easily added to evening teas, soothing bath salts, yummy edibles (don’t worry, no THC here) and more.

In Sickness and in Health

Whether you’re battling a life-threatening disease, anxiety and depression or simply looking to feel your best, CBD helps in additional ways:

• Reduces pain and inflammation
• Can help increase the lack of appetite often arising from anxiety or depression
• Exercise is closely linked to alleviating anxiety and depression. CBD can provide muscle recovery afterward
• Offers a viable alternative to traditional drugstore items unhelpful in providing relief
• Confidence in knowing products are legal and regulated
• Depending on where you live, home delivery is possible

These are challenging times, to say the least, and we aren’t clear of the forest yet, but with an assist from over-the-counter CBD items, you can increase your odds of keeping anxiety and depression at bay.

Californians have until the end of next week to weigh in on dozens of proposed changes to the state’s cannabis rules. A few rules are raising eyebrows, especially one that allows companies to continue delivering marijuana even in communities that don’t allow marijuana storefronts. The groups freaking out about those deliveries should chill.

The League of California Cities and the California Police Chiefs Association have been two of the most vocal opponents of cannabis home delivery. They worry that it will lead to increased crime and greater access to cannabis by minors. Delivery persons carrying cash and marijuana would be at particular risk of assault and robbery, they say.

All delivery people carry cash. It’s not as if there has been a rash of robberies. Eaze, a licensed online cannabis company with a delivery app, has made more than 500,000 deliveries statewide since sales became legal at the start of 2018. The company has not reported rampant crime against its workers.

Although communities may forbid cannabis stores — and many have — they can’t ban it from being transported by adults older than 21 on public streets and delivered to a home. That’s created a niche for delivery companies to serve a wide range of people in cities where marijuana is otherwise unavailable. That’s especially valuable for medicinal users who might be homebound or otherwise have difficulty traveling long distances to get their cannabis.

It also makes sense for there to be uniform state laws about transportation and delivery. It’s one thing for a community to exercise zoning authority to keep out marijuana as allowed, but it’s something else entirely for cities to try to overrule transportation of an otherwise legal product.

The idea of licensed companies delivering an adult product in California is nothing new. The state allows delivery of alcoholic products. Cannabis should be treated no differently as long as companies are licensed and responsibly ensuring that clients are old enough to buy.

There are a few other changes in the proposed rules of note.

The state would forbid highway billboards advertising marijuana within 15 miles of the state line. That seems a bit odd given that cannabis is legal in Oregon and Nevada. Only Arizona hasn’t legalized it yet. Any cross-border shopping should be their problem.

There are also stricter rules about packaging to prevent kids from getting into products they shouldn’t. That’s a prudent precaution. Sure, child-safety packaging can be annoying to adults, but it’s a small price to pay for protecting kids.

Speaking of kids, there’s also a ban on shaping edibles like a human being because that might make it more enticing to juveniles. That’s in addition to existing bans on edibles shaped like animals, insects and fruit. We’re hard-pressed to think that this makes much difference, but we suppose it can’t hurt to outlaw THC gummy worms.

Sonoma County supervisors recently voted to allow recreational sales at marijuana dispensaries. It also limited most pot-growing farms to properties at least 10 acres large. We’re taking a go-it-slow approach here, and so is the state with these rules that balance access with reasonable restrictions.

©2018 The Press Democrat (Santa Rosa, Calif.). Visit The Press Democrat at www.pressdemocrat.com. Distributed by Tribune Content Agency, LLC.

Leaders of the San Diego marijuana industry say the city needs to accelerate efforts to shut down the city’s roughly 100 illegal delivery services, which have replaced illegal marijuana storefronts as the new black market for the drug.

The city’s 18 permitted dispensaries can legally deliver marijuana to customers, but there are dozens of other delivery services that operate quietly and illegally out of garages, apartments and single-family homes.

Operators of legal dispensaries consider them unfair competition, noting they haven’t paid fees for a city permit, they don’t pay taxes and their products aren’t subject to state testing for purity and quality.

San Diego police have successfully shut down 11 illegal delivery services during the past year, making 34 arrests and confiscating 230 pounds of marijuana and $60,000 in cash.

Industry leaders applaud those efforts, but say that it would take 10 years at that pace to eliminate all of the illegal delivery services. They are lobbying city officials to consider stepping up their campaign against illegal deliveries.

“It lacks resources – it lacks laws that can be used to more effectively and quickly knock these down,” Phil Rath, spokesman for a coalition of the city’s 18 legal dispensaries, told the City Council’s public safety committee this week. “It seems clear there is an opportunity for improvement.”

Lt. Mark Novak, who heads the Police Department’s narcotics unit, told committee members he is optimistic the city’s campaign will soon gain significant momentum.

Novak said that city efforts to shut down illegal storefronts had mixed results until a crackdown in 2016 turned the tide. He said the city didn’t need to shut them all down because greater attention scared many into closing voluntarily.

“We were closing many down, but at the same time they realized if they were going to operate in the city of San Diego they were going to be closed down, and they closed down themselves,” he said. “It was kind of like a domino effect.”

Novak, however, said delivery services appear to be much harder to shut down than storefronts because they aren’t stationary.

“Simply put, delivery services take more time to track and locate because they are mobile, they use multiple vehicles and multiple storage locations,” he said.

Novak said each investigation into an illegal delivery service begins with police getting a complaint, police observing a delivery or storage location or police finding an illegal service on weedmaps.com or in a local newspaper.

Police then must verify the business is an illegal delivery service and identify who owns and operates it. When that process is complete, arrests can be made and search warrants can be issued.

Rath, the industry spokesman, said he empathizes with the police.

“I think these folks do a commendable job every day with a very hard challenge,” he said.

But Rath noted that San Diego’s annual budget approved this summer doesn’t devote any revenue from the city’s new 5 percent tax on cannabis sales to stepped-up enforcement.

Novak told committee members he doesn’t think lack of resources is the problem, expressing confidence that all he needs is more time.

Novak said one of six investigation teams in the department’s Vice Division is devoted entirely to marijuana enforcement.

Some opponents of marijuana legalization say they doubt the city will ever be able to shut down all of the illegal delivery services. They note that many of those operations are run by people who previously operated illegal marijuana dispensaries, so they don’t need to advertise on the web or anywhere else because they have thousands of existing clients who previously were regulars at their storefronts.

Some local residents lobbied the committee to consider allowing more businesses to deliverymarijuana in San Diego than just the 18 permitted dispensaries. There aren’t enough local delivery services to meet demand, they said, noting that some of the 18 permitted dispensaries have not yet opened and that not all of the dispensaries that have opened offer deliveries.

Rath said some permitted dispensaries are exploring partnerships with delivery services to help meet local demand. He also said his organization, the United Medical Marijuana Coalition, is open to changes in local marijuana laws regarding deliveries.

© 2018 The San Diego Union-Tribune. Visit The San Diego Union-Tribune at www.sandiegouniontribune.com. Distributed by Tribune Content Agency, LLC.