Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf", or the "Company"), a federally regulated manufacturer and distributor of cannabis vapes and oils, is pleased to announce the launch of Glacial Gold™ softgels.

The announcement of the new softgel product signifies the Company's expansion into the "Capsules" category. Launching this summer, Glacial Gold™ softgels will provide unparalleled value in quality and price per milligram compared to other regulated capsules and edible products. Glacial Gold™ softgels will be made with high-purity cannabis distillate in a base of organic coconut MCT oil expertly encapsulated for a premium consumption experience, without premium pricing.

While softgels utilizing THC, CBD, and other rare-cannabinoids as ingredients are relatively new to consumers as a regulated adult-use product, the global softgel market is estimated to reach $9.59 billion (USD) by 2027^[1]. THC and CBD softgels offer consumers a familiar alternative in an easy-to-dose format.

By controlling the price and quality of ingredients with Nextleaf's patented high-efficiency processing technology, the Glacial Gold^™ brand is being positioned as a price-point and value leader in distillate focused product categories, including vape, oils, and softgels. Glacial Gold^™ is the #2 selling brand in CBD & balanced oils by revenue in British Columbia.

Executive Officer Update

Nextleaf is pleased to announce the addition of Kevin Keagan to its executive team and board of directors.

As the incoming Chief Financial Officer ("CFO"), Kevin Keagan brings over 20 years of experience as a business executive holding various senior finance and leadership roles across multiple industries including cannabis and capital markets. Mr. Keagan brings deep expertise in capital management, compliance, manufacturing, contract management, pricing strategy, and corporate finance.

"As we continue our commercial ramp up and scale our fundamentals - driven by leveraging our significant IP portfolio, increasing distribution of Glacial Gold products, and accelerating our cannabinoid ingredient supply business, Kevin's experience will help ensure that Nextleaf is well positioned to execute on our strategic plans to build a profitable future," said Paul Pedersen, CEO of Nextleaf.

Charles Ackerman will transition out of his role as CFO and director of the company as of April 28th, 2022. Mr. Ackerman will continue to support the company's finance department as well as serve as a key strategic advisor to senior management. Nextleaf is deeply appreciative of the hard work and dedication Mr. Ackerman has shown since inception and public listing.

"As founding CFO, Charles's leadership and energy was key as we transformed an idea into a national distributor of category leading consumer products built on one of the largest global cannabinoid patent portfolios in the world. We are excited to have Charles remain a stakeholder contributing to our future strategic plans and growth," said CEO Paul Pedersen.

Nextleaf Board Member Dr. Sherry Boodram to Host Cannabis Industry Conference

Dr. Sherry Boodram, leading expert in cannabis and psychedelic science and regulation, and CEO of CannDelta, will host and lead panels during the Lift&Co. Cannabis Business Conference on Thursday, May 12^th in Toronto.

Dr. Sherry Boodram has served as an independent board member of Nextleaf since October of 2019. Prior to founding CannDelta, Dr. Boodram spent several years in the Canadian federal government, most notably with Health Canada's Medical Cannabis Program and Controlled Substances Program as a Senior Regulatory Compliance and Enforcement Officer. Sherry was responsible for licensing application reviews and on-site facility inspections under the legislative regimes of the Marihuana for Medical Purposes Regulations (MMPR), Access to Cannabis for Medical Purposes Regulations (ACMPR), and the Controlled Drugs and Substances Act. Dr. Boodram holds a Ph.D. in Chemistry from York University, a Certificate in Cannabis Law and Regulation from Osgoode Hall Law School of York University, and a Graduate Certificate with Honours in Pharmaceutical Regulatory Affairs and Quality Operations from Seneca College. Dr. Boodram is also an elected board member of the Canadian Association of Professionals in Regulatory Affairs (CAPRA).

Nextleaf CEO Paul Pedersen to Speak at Lift&Co. Expo

Nextleaf CEO Paul Pedersen will speak on "The Future for Edible Products" panel at the Lift&Co. Cannabis Expo in Toronto on Sunday, May 15, 2022. If you would like to attend or learn more, please visit: https://liftexpo.ca/

About Nextleaf®

Nextleaf is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning 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 is a low-cost producer of cannabis oils, and supplier of THC and CBD ingredients to qualified wholesale partners across Canada. Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial extraction and purification of cannabinoids. The Company has been issued 18 U.S. patents, and over 95 patents globally, on cannabinoid processing including distillation and acetylation. Nextleaf develops proprietary cannabinoid-based formulations and delivery technology through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. For more information visit www.nextleafsolutions.com and www.Glacial.Gold

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.

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Jason McBride, Corporate Development
604-283-2301 (ext. 219)
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On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO

Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding 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 CSE has not reviewed or approved the contents of this press release.

^[1] https://www.fortunebusinessinsights.com/softgel-capsules-market-103353