LEEF Brands Announces US$4.5M Initial Closing of Up to US$8M Financing Led by Mindset Capital; Appoints Jamie Mendola to Board of Directors

Core Viewpoint - LEEF Brands, Inc. has announced a US$4.5 million initial closing of a financing round aimed at raising up to US$8 million to support the expansion of its Salisbury Canyon Ranch cultivation asset in California, which is projected to be one of the largest licensed cannabis farms in the state [1][4]. Financing Details - LEEF will conduct two concurrent non-brokered private placements, offering units at CAD $0.25 per unit, each consisting of one common share and one warrant, with warrants allowing the purchase of additional shares at CAD $0.30 for two years [2]. - The total expected raise of US$8 million will result in the issuance of approximately 21,868,800 common shares and 14,579,200 preferred shares, with the initial closing resulting in approximately 8,200,800 common shares and 10,934,400 preferred shares issued [3]. Expansion Plans - Proceeds from the financing will primarily support the expansion of Salisbury Canyon Ranch, which is expected to be completed in fall 2026, enhancing internal supply and improving operating margins and product quality [4]. - The expansion aims to develop the full 180-acre permit size of Salisbury Canyon Ranch, providing a consistent supply of low-cost, clean biomass for extraction [6][9]. Leadership Changes - Jamie Mendola has been appointed to the Board of Directors, bringing over two decades of experience in capital markets and cannabis business scaling [5][7]. - The addition of Mendola is expected to enhance LEEF's strategic positioning for future growth, leveraging his expertise in navigating the regulatory landscape and operational scaling [8][9].