Power Leaves Takes Its Decocainized Coca Leaf Business Public in Canada

A Colombian-supplied producer of decocainized coca leaf derivatives is about to become a publicly traded company. Power Leaves has completed a reverse takeover of Atmofizer Technologies (CSE:ATMO), clearing the way for a listing on the Canadian Securities Exchange, as Stockhouse reports.

Stockhouse reports that the exchange has conditionally approved the listing, which is expected by September 9 under the ticker symbol NASA, with a new board and management team in place. Atmofizer stock last traded at C$0.055.

The company makes coca leaf derivatives for the food and beverage industry — extracts with the cocaine alkaloid removed, which is a different product category from the leaf itself and a very different one from the drug. Power Leaves describes its aim as building the first legal Colombian supply chain for decocainized coca leaf extract sold into that market.

What the reverse takeover puts in place

The structure that emerges from the transaction, as reported by Stockhouse, is a small-cap company with a modest treasury and an unusual set of supply and regulatory assets.

• 211.12 million shares issued and outstanding, or 224.08 million fully diluted.
• US$3.02 million on the balance sheet following a concurrent capital raise.
• An exclusive licensing agreement with the Nasa Indigenous Community of the Indigenous Reserve of Calderas in Colombia.
• Manufacturing and INVIMA-registered research and development facilities, plus an FDA-registered packaging facility, in the Neiva region of Colombia.
• Proceeds earmarked for equipment, marketing and research and development.

Pat McCutcheon, a co-founder of MediPharm Labs (TSX:LABS), takes the roles of Chair and Chief Executive Officer. In the company’s announcement, McCutcheon said the limiting factor on the business has been production capacity rather than customer demand, and that the new money is directed at manufacturing equipment, quality systems and the certifications and audits that flavor houses and consumer packaged goods buyers require before they will place volume orders.

The Coca-Cola comparison, and what it does not mean

Power Leaves positions itself against what it characterizes as Coca-Cola’s decades-long lock on the coca leaf. That framing is the company’s own, and it is worth reading carefully.

The market for decocainized coca extract as a flavoring ingredient has historically been served through a very narrow legal channel, and any new entrant has to satisfy both Colombian regulators and whatever authorities govern the destination market. An FDA-registered packaging facility is a facility registration, not a product approval, and it does not by itself establish that any given extract may be imported into or sold in the United States.

Nothing in what has been announced states which markets Power Leaves is cleared to ship into, what volumes it can produce today, or which customers have signed. Those are the details that will determine whether the pipeline McCutcheon describes turns into revenue.

Why this matters

Our interest here is not the stock. It is the fact that a company built on the coca leaf, licensed by an Indigenous community that has cultivated it for generations, is being taken public on a mainstream North American exchange under its own name. That is a small but real shift in how the plant is treated in commercial and regulatory settings.

For years the only visible legal use of coca leaf in the United States has been as an anonymous, de-identified flavor input for a soft drink — the plant present in the supply chain but absent from the label and from the conversation. A second supplier, openly describing what it sells and where the leaf comes from, changes the shape of that conversation even if it never wins a single large account.

The Indigenous licensing arrangement is the part we will be watching hardest. Andean and Colombian communities have supplied the raw material for coca commerce for a century without capturing much of its value, and an exclusive agreement with the Nasa community of Calderas is only as meaningful as its terms, which have not been made public.

We would also caution readers against reading this as any change to US law. Coca leaf remains a controlled substance under the Controlled Substances Act, and a Canadian listing by a Colombian manufacturer does not alter DEA scheduling, import licensing or FDA status for the leaf or for tea made from it. This is a corporate financing milestone, not a policy one — though it sits alongside other signs, including the recent HerbalGram issue devoted to coca, that the leaf is being examined on its own terms rather than through cocaine headlines.

Frequently Asked Questions

What is Power Leaves and what does it sell?

Power Leaves is a manufacturer of decocainized coca leaf derivatives for the food and beverage market. The company says it is building the first legal Colombian supply chain for decocainized coca leaf extract. Decocainized extract has the cocaine alkaloid removed and is used as a flavoring ingredient rather than as a drug.

When will Power Leaves start trading on the CSE?

Power Leaves has completed a reverse takeover of Atmofizer Technologies (CSE:ATMO), and the listing was conditionally approved by the Canadian Securities Exchange with trading expected by September 9 under the ticker symbol NASA. Because the approval is conditional, the exact first trading day was not guaranteed in the announcement.

How much money does Power Leaves have after the transaction?

Power Leaves is reported to have US$3.02 million on its balance sheet following a concurrent capital raise completed with the reverse takeover. The company will have 211.12 million shares issued and outstanding, or 224.08 million fully diluted. The proceeds are earmarked for equipment, marketing and research and development.

Who runs Power Leaves?

Pat McCutcheon serves as Chair and Chief Executive Officer of Power Leaves. He is a co-founder of the cannabis extraction company MediPharm Labs (TSX:LABS). The company is listing with a new board and management team.

Does Power Leaves have an agreement with an Indigenous community?

Power Leaves holds an exclusive licensing agreement with the Nasa Indigenous Community of the Indigenous Reserve of Calderas in Colombia. The financial terms of that agreement and how value is shared with the community have not been made public.

Does this mean coca leaf products can now be sold legally in the United States?

No. The Power Leaves listing is a Canadian stock exchange event involving a Colombian manufacturer, and it does not change US law. Coca leaf remains a controlled substance under the US Controlled Substances Act, and the announcement does not state which markets the company is cleared to sell into.

Is a coca leaf extract the same thing as cocaine?

No. Decocainized coca leaf extract, the product category Power Leaves manufactures, is processed so that the cocaine alkaloid is removed, leaving a flavoring material. The coca leaf itself is a plant that has been chewed and brewed as tea in the Andes for centuries, and it is chemically and pharmacologically distinct from refined cocaine.