Generally speaking you need to know what are the rules about food supplement in your country. Generally, laws and regulations will tell you which solvent you must use.
For example, here in France, we must use Ethanolic extract lower than 30% in Ethanol for food supplement (methanol and others are strictly forbidden). Moreover you must watch the plant list authorized for food supplement, because you can't use all plants for this application and not all the part of plants.
About formulation, you must be careful, but I'm not skilled enough to answer this question.
You can use water to boil, soak into the natural alcohol, or use a physical method such as vibration to separate the ingredient. But, please, never use chemicals.