LEEF Brands Completes Construction at Salisbury Canyon Ranch
LEEF Brands Achieves Major Milestone in Cannabis Cultivation
LEEF Brands, Inc. has exciting news to share with its stakeholders. The company proudly announces the successful completion of phase 1 construction and local permitting for the Salisbury Canyon Ranch project. This 1,900-acre property in California has received a 187-acre Land Use Permit dedicated to cannabis cultivation, marking a pivotal expansion in LEEF's operations.
Investment and Infrastructure Development
Significant investment efforts totaling over $7 million have been committed to this project. These funds have been allocated for purchasing the real estate and developing key infrastructure such as wells, irrigation systems, security cameras, fencing, and improvements to road access. Notably, the first phase has established 65 acres specifically designated for cannabis cultivation. This development plays a crucial role in meeting the burgeoning supply chain demands of the Company.
Leadership Insights on Future Growth
Micah Anderson, the Chief Executive Officer of LEEF Brands, expressed remarkable optimism regarding this project's achievement. "The completion of the first phase of Salisbury Canyon Ranch signifies a major accomplishment for our team, and we've worked tirelessly to reach this point," he said. Anderson further noted that this addition to their internal supply chain could significantly enhance both revenue and profit margins as they move into 2025, setting the stage for continued success in their endeavors.
Leveraging Licensing Opportunities
Further complements to their strategic planning include obtaining a hemp cultivation permit for the Salisbury Canyon Ranch. This allows LEEF to fully utilize the new infrastructure and establish additional revenue streams within the hemp industry. Since 2015, the company has been actively involved in the hemp space via its wellness brand, LEEF Organics. Management remains vigilant in monitoring changes in regulations surrounding hemp and cannabis to ensure the Company is well-positioned for future expansions in either direction.
Financing Strategies to Support Growth
Additionally, the Company has successfully closed a $1,000,000 USD note payable to support ongoing operations, featuring a one-year term at a 10% interest rate. This financial strategy aims to enhance product offerings and improve distribution capabilities. In another related development, LEEF has issued 27,425,208 common shares to raise $740,480 CAD via a previously announced equity offering. The funds garnered will aid in supporting operations and strategic initiatives.
Acquisition Details and Next Steps
Moreover, LEEF Brands announced the issuance of 174,914,000 common shares as part of fulfilling the acquisition agreement with Anderson Development SB, LLC, completed in November 2021. This acquisition included a Land Use Permit and an option to purchase Salisbury Canyon Ranch and is vital for bolstering the company's growth trajectory.
About LEEF Brands Inc.
LEEF Brands Inc. has firmly established itself as a prominent cannabis extraction and manufacturing company based in California. With a focus on vertical integration, the company is recognized as one of the state’s most sophisticated operators. LEEF possesses a comprehensive supply chain coupled with innovative manufacturing processes, powering some of California's largest cannabis brands.
Frequently Asked Questions
What is the significance of the Salisbury Canyon Ranch project?
The Salisbury Canyon Ranch project is crucial for expanding LEEF Brands' cannabis cultivation capabilities, supporting increased supply chain needs.
How much has LEEF invested in this project?
LEEF Brands has invested over $7 million in purchasing the property and developing necessary infrastructure for the project.
What future plans does LEEF have regarding hemp cultivation?
LEEF Brands has obtained a hemp cultivation permit, allowing for the exploration of new revenue streams in the hemp industry.
How does LEEF plan to utilize the funds from their recent equity offering?
The funds raised from the recent equity offering will support ongoing operations and strategic initiatives aimed at enhancing products and distribution.
Who leads LEEF Brands, and what is their vision?
Micah Anderson serves as the CEO, emphasizing growth, revenue enhancement, and strategic positioning as key aspects of the company’s vision.
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