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Nextleaf Solutions Provides Analysis on Restated Third Quarter Financial Results

Nextleaf Solutions Ltd. which is regulated by the federal government and possesses one of the largest portfolios in the United States of patents for cannabinoids’ extraction, and distillation has revised its Q3 financials. Corrections have been made to the management’s discussion and analysis for the three and nine-month periods ending June 30, 2021, as a result of a calculation and input mistake that was identified after the financial statements were filed. However, the restatement has only a small impact on the company’s past and current operating performance.

According to Charles Ackerman, Nextleaf Chief Financial Officer, the bulk concentrate market’s price has begun to stabilize and become more stable over the past six months. In our opinion, it’s a sign that the market has regained its equilibrium.

Despite the fact that our B2B revenue continues to grow, we’re thrilled about the potential that we’re actually just getting started with our existing client base, which includes numerous global cannabis firms with top product SKUs in Canada and existing footholds in the United States.

Our provincial sales channel will be operational in September and we look forward to broadening our income source and improving manufacturing efficiency, which will assist bring us toward regular monthly profitability,” Ackerman added. We should be able to meet that target this year with our substantially automated facilities, increased utilization, and income possibilities from B2C sales.”Financial statements for June 30, 2021, and management discussion and analysis for August 31, 2021, provide information on the input and calculation mistakes.

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