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LEEF Brands Inc. Closes Second Tranche Private Placement Financing Round of CAD$500,000

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VANCOUVER, British Columbia, Dec. 20, 2024 (GLOBE NEWSWIRE) — LEEF Brands Inc. (CSE:LEEF) (OTCQB:LEEEF) (the “Company” or “LEEF Brands“), a leading California-based cannabis company, is pleased to announce the successful closing of the second tranche of its previously announced private placement financing (the “Financing”) from October 29, 2024. The second tranche raised gross proceeds of CAD $500,000. Combined with the first tranche of CAD $2,118,375, announced on December 12, 2024, the Financing was oversubscribed, bringing the total gross proceeds to CAD $2,618,375.

Micah Anderson, CEO of LEEF Brands, commented, “We are thrilled to announce the successful closing of the second tranche of our financing, oversubscribing the initial round. The strong investor support underscores confidence in our vision and operational strategy. This additional funding allows us to continue executing on our strategic initiatives, complete our farm operations, and solidify LEEF’s position as a leader in cannabis concentrates. We remain committed to disciplined growth, operational excellence, and delivering long-term value for our shareholders.”

The Financing consisted of the issuance of 2,000,000 units (the “Units“) at a price of CAD$0.25 per Unit. Each Unit comprises one common share of the Company and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase an additional common share at an exercise price of CAD$0.40 for a period of two years. The Warrants also include an acceleration clause, allowing the Company to accelerate the expiry date of the Warrants should the volume weighted average price of the common shares exceed CAD$0.60 during any ten consecutive business day period.

The net proceeds from the Financing will be strategically deployed to support the Company’s growth initiatives, including the completion of Salisbury Canyon Ranch and the pursuit of new market opportunities in line with the Company’s expansion plans, and for general working capital purposes.

In connection with the Financing, the Company paid a cash fee of CAD$35,000 and issued an aggregate of 140,000 finder’s warrants (the “Finder’s Warrants”) to a finder as compensation for introducing certain purchasers of Units to the Company. The Finder’s Warrants have the same terms as the Warrants.

About LEEF Brands Inc.
LEEF Brands Inc. is a leading California-based extraction and manufacturing cannabis company, recognized for its large-scale vertical integration and as one of the state’s most sophisticated operators. With a comprehensive supply chain, cutting-edge manufacturing processes, and a dynamic bulk concentrate portfolio, LEEF powers some of the largest brands in California. For more information, visit www.LeefBrands.com.

LEEF Brands Inc.
Per: “Kevin Wilson

Chief Financial Officer

Forward-Looking Statements 

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively, “forward-looking statements“) including, but not limited to, statements regarding the anticipated use of proceeds from the Financing and the Company’s future financial condition, operations and objectives.

Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. All forward-looking statements, including those herein are qualified by this cautionary statement.
Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements.

There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including, but not limited to the risks disclosed in the Company’s public filings on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking statements.

For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR+ at www.sedarplus.ca.

The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

LEEF Brands, Inc., Micah Anderson, CEO, or Kevin Wilson, CFO, 707-703-4111, ir@leefca.com

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