LEEF Brands to Enter New York’s Expanding Cannabis Market with Acquisition of Tier 1 Processing License

LOS ANGELES- LEEF Brands Inc. California-based cannabis extraction company, has announced the signing of a binding Letter of Intent to acquire a Tier 1 processing license in New York. This strategic move positions LEEF to enter New York’s rapidly growing cannabis market, which is projected to reach $1.5 billion in sales by 2025.

In addition to securing the license, LEEF has obtained a 7,000-square-foot facility in New York and has installed extraction equipment, enabling swift market entry with minimal capital expenditure. The company plans to replicate its successful California business model by offering a comprehensive range of concentrates, including distillate, hydrocarbon, and solventless extracts.

Micah Anderson, CEO of LEEF Brands, highlighted the significance of this expansion: “New York represents an incredible opportunity for LEEF Brands, particularly with concentrates used in 55% of all cannabis products sold in the state.” He further noted that the company’s established relationships with top California brand partners operating in New York would facilitate a seamless market entry.

New York’s cannabis industry has demonstrated robust growth, with retail sales surpassing $1 billion in 2024. Projections indicate that sales could exceed $1.5 billion in 2025, driven by an increase in licensed dispensaries and consumer demand.

LEEF’s strategic entry into this burgeoning market aims to diversify its operations and capitalize on the expanding demand for cannabis concentrates in New York.