(Globe Newswire) Vancouver — LEEF Brands, Inc., a leading vertical cannabis operator is excited to announce a strategic partnership with Farming First Holdings, LLC, a prominent player in the cannabis cultivation industry. This collaboration marks a significant milestone for LEEF as it solidifies its supply chain for the upcoming winter season.
Under the terms of the agreement, Farming First will cultivate 27 acres of biomass cannabis material exclusively for LEEF. This partnership ensures a steady and reliable source of high-quality biomass material, contributing to LEEF’s commitment to providing exceptional concentrate products to its customers. The planting of the cannabis crops is expected to commence over the summer, with an anticipated fall harvest.
LEEF anticipates that this collaboration will yield approximately 65,000 lbs. of biomass material, further establishing the Company’s position as a leading concentrate provider in the California cannabis industry. By securing this robust supply, LEEF is well-positioned to meet the demands of the winter season and maintain a competitive edge.
“We are thrilled to partner with Farming First on this project. This strategic collaboration allows us to enhance our supply chain and ensure a consistent flow of high-quality cannabis material. We are confident that our customers will greatly benefit from this partnership, as we continue to provide them with exceptional concentrate products.” — Micah Anderson, CEO, LEEF Brands
In addition to the current agreement, LEEF has also secured a right of first refusal on an additional 27 acres of biomass cannabis material for the 2024 season. This option provides LEEF with the opportunity to expand its production capacity and meet the growing market demand.
“We are proud to join forces with LEEF. LEEF’s reputation for excellence in the cannabis industry aligns perfectly with our commitment to cultivating premium cannabis material. This partnership marks an exciting chapter for both companies, and we look forward to a fruitful collaboration.” — William Terry, CEO, Farming First
With this strategic partnership, LEEF continues to demonstrate its dedication to innovation, growth, and providing top-quality concentrate products to its customers. As the cannabis industry evolves, LEEF remains at the forefront, constantly seeking opportunities to improve and expand its operations.
The company is also pleased to announce the successful completion of a fundraising round, securing $600,000 USD through a note payable arrangement. The funds were raised through a private arms length offering, with the note payable featuring a competitive flat interest rate of 12 per cent. The note will be payable in full on January 20, 2024.
The company is also pleased to announce that it has successfully raised $100,000 USD in capital funding through the issuance of 4,721,528 common shares. These shares were priced at $0.0288 each and were acquired by an arms-length entity.