Nextleaf Solutions results reveal Glacial Gold as #1 CBD vape in British Columbia
March 03, 2023 at 10:05 pm IST
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Nextleaf Solutions CEO Paul Pedersen joined Steve Darling from Proactive to share news the company has released its first-quarter financial statements showing revenue increasing of 24% from 1Q last year.
Pedersen told Proactive this was helped by the success of Glacial Gold which is the #1 selling brand of CBD vapes in British Columbia with a market share of over 39%. The company was also able to generated positive cashflow from operations.
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Nextleaf Solutions Ltd. is a Canada-based company, which is a federally regulated manufacturer and distributor of cannabis vapes and oils under its brand, Glacial Gold. The Company is a cannabis extractor and processor, with a focus on developing intellectual property for the extraction, distillation formulation, and delivery of cannabinoids. It commercializes its intellectual property portfolio through IP licensing, production of cannabidiol (CBD) and tetrahydrocannabinol (THC) oils, through its subsidiary, Nextleaf Labs Ltd. (Labs), and selling products through provincial distribution boards for the adult-use market under the brand Glacial Gold. It sells its branded products to government distributors and authorized retailers in four provinces in Canada. Its patented ingredient processing technology transforms unsold cannabis and hemp biomass into distillate at an industrial scale. Its other subsidiary is Nextleaf Innovations Ltd., which operates as an extraction solutions company.