Nextleaf Solutions Ltd. announced the launch of its first THC-free Broad Spectrum CBD distillate ("THC-Free CBD") product. Glacial GoldTM Rise & Shine CBD Drops is a broad-spectrum alternative to CBD isolates, perfect to start the day without the risk of intoxication. Nextleaf expects Glacial GoldTM Rise & Shine CBD Drops to be available first in adult-use channels in British Columbia and nationally through medical cannabis distribution partners in the fall.

On July 28, 2022, Health Canada released a report by its science advisory committee on health products containing cannabis. In the report, the committee unanimously agreed that CBD is safe and tolerable for short-term use at doses from 20 milligrams per day to a max dose of 200 milligrams per day. The report will serve as a tool to inform Health Canada's decision-making in developing a potential pathway for over the counter, non-prescription health products containing CBD for humans and dogs.

Nextleaf announced that it has executed its first bulk-sale of THC-Free CBD ingredients to a multinational partner. The Company recently produced THC-Free CBD in anticipation of commercialization and has validated its hemp extraction and manufacturing process through third-party analytical testing. Nextleaf believes that excise-exempt ingredients like THC-Free CBD will be disruptive ingredients within the Canadian market, and in the example of THC-Free CBD, it's an alternative to CBD isolate for those that prefer a more holistic cannabis product.