Nextleaf Labs Signs Cannabis Extraction Agreement with 10-acre Greenhouse Cannabis Cultivator

We are pleased Nextleaf Labs' first large cannabis extraction agreement is with such a strong cultivator, who has been an early industry leader producing exceptional quality product at a large scale," stated Nextleaf Solutions CFO, Charles Ackerman. "We believe we are delivering on the overall mission of building a fundamentally-sound Company that operates one of the most efficient, technology-driven cannabis oil refineries in Canada, and we look forward to taking the business into the next phase of growth," continued Ackerman. Nextleaf believes there is significant opportunities to monetize lower-grade cannabis materials into high-purity distilled oil. Investments in technology enable the delivery of efficient, scalable, and lower cost solutions to B2B partners and customers, driving higher margins and ultimately a competitive barrier for the Company over the long-term. The Company's industrial-scale extraction and purification plant in Greater Vancouver, BC has a design capacity to process 600 kg per day of dried cannabis biomass into refined oils. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding expected revenues resulting from the Agreement over the term, the Company's ability to capitalize on its IP portfolio and create a competitive barrier, the efficiency and scalability of the Company's technology and operations, expectations regarding lower concentrate costs and higher margins resulting from utilization of the Company's technology, expectations regarding the Company's ability to enter into further extraction agreements, and 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. 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 estimate is derived from the expected gross revenues from the Agreement, representations from Nextleaf Labs regarding current commodity pricing and projections.