LEEF Brands Closes CAD $500K Financing Round

LOS ANGELES- LEEF Brands Inc. , a California-based cannabis extraction and manufacturing company, has successfully closed the second tranche of its private placement financing, securing an additional CAD $500,000. This follows the first tranche, which raised CAD $2,118,375, bringing the total gross proceeds to CAD $2,618,375, surpassing the initial target.

The financing involved issuing 2,000,000 units at CAD $0.25 per unit. Each unit comprises one common share and one common share purchase warrant, allowing the holder to purchase an additional share at CAD $0.40 within two years. The warrants include an acceleration clause, enabling the company to expedite the expiry date if the average share price exceeds CAD $0.60 over ten consecutive business days.

CEO Micah Anderson expressed satisfaction with the oversubscribed financing, stating that the strong investor support reflects confidence in LEEF’s strategic direction. The funds are earmarked for completing the Salisbury Canyon Ranch operations, exploring new market opportunities, and general working capital. This strategic deployment aims to enhance LEEF’s position in the cannabis concentrates market.

LEEF Brands is recognized for its large-scale vertical integration and sophisticated operations within California’s cannabis industry. The company supplies some of the state’s largest brands through its comprehensive supply chain and advanced manufacturing processes.

This successful financing round underscores LEEF’s commitment to disciplined growth and operational excellence, positioning the company for continued expansion in the evolving cannabis market.