LEEF Brands Closes Acquisition of 1,900 Acre Ranch in Santa Barbara County for the Purpose of Cannabis Cultivation
VANCOUVER, British Columbia, Sept. 20, 2023 (GLOBE NEWSWIRE) — LEEF Brands Inc. (CSE: LEEF, OTC: LEEEF) (“LEEF” or the “Company”), a vertical cannabis operator, is pleased to announce the successful closing of the acquisition of the Salisbury Canyon Ranch LLC. (the “Acquisition”), a 1,900-acre ranch located in Santa Barbara County (the “Ranch”). Additionally, as previously announced on June 1, 2023, the Company has sold a 60% interest in the Ranch for $7.0 Million through an interest-free loan agreement, of which the proceeds will be used to finance the buildout and operation of one of the largest biomass cultivation sites in California. LEEF will remain the 100% owner of the state cannabis licenses and shall exclusively occupy and manage the Ranch and the cultivation operation.
Related news for (LEEEF)
- LEEF Brands Announces CAD $1 Million Private Placement
- LEEF Brands Announces Successful Completion of Acquisition of its New York License
- LEEF Brands to Attend Bitcoin 2025 Conference
- LEEF Brands Reports First Quarter 2025 and Full-Year 2024 Financial Results
- LEEF Brands Begins Planting Salisbury Canyon Ranch, One of the Largest Cannabis Farms in the World