In This Article:
VANCOUVER, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- LEEF Brands Inc. (CSE: LEEF) (OTCQB: LEEEF) ("LEEF Brands" or the "Company"), a leading California cannabis extraction company, today announced the signing of a binding Letter of Intent to acquire a Type 1 processing license, marking its strategic entry into New York's rapidly expanding cannabis market.
In addition to acquiring the license, LEEF has secured a 7,000-square-foot facility and positioned extraction equipment in New York, allowing for rapid market entry with minimal capital expenditure.
"New York represents an incredible opportunity for LEEF Brands, particularly with concentrates used in 55% of all cannabis products sold in the state," said Micah Anderson, CEO of LEEF Brands. "With our equipment in place and a facility ready to launch, this expansion positions us to generate new revenue streams in 2025, increase margins, and enhance stability through market diversification—all while maintaining our high-quality standards."
Strategic Highlights:
-
Immediate Market Access: Fully equipped facility ready for rapid deployment.
-
Proven Business Model: Replicating LEEF’s successful California model with a full spectrum of concentrates, including distillate, hydrocarbon, and solventless extracts.
-
Established Sales Channels: Leveraging existing relationships with top California brand partners operating in New York.
-
Asset-Light Entry: Minimal capital required to scale operations quickly.
Market Opportunity:
New York’s cannabis market is growing rapidly. According to New York State’s Office of Cannabis Management, sales have surged from $160 million in 2023 to an estimated $1 billion in 2024, with projections of $1.5 billion by 2025. Concentrates play a significant role in this growth, as they are used in over 55% of all products sold in the state.
"LEEF has spent the past eight years mastering our craft in California, the nation’s most competitive cannabis market,” added Anderson. "Expanding to New York is just the first step in a broader strategic plan to replicate our successful business model in new markets across the country.”
Corporate Update
In accordance with the previously disclosed acquisition agreement dated January 12, 2023, the Company has issued 1,858,032 common shares to the former shareholders of The Leaf at 73740 LLC.
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 the country. For more information, visit www.LeefBrands.com.