LEEF Brands Inc (CNSX: LEEF) (OTCMKTS: LEEEF) now has the necessary licenses in hand to start planting a large-scale marijuana crop at its 1,900-acre California ranch. The state’s Department of Cannabis Control just issued them.
The extraction expert says that its Salisbury Canyon farm will soon become one of the world’s most expansive cultivation sites. LEEF is now set to start planting the first 65 acres within the next few months. By 2027, the cannabis operator aims to up that number to 187.
LEEF currently retains a 40 per cent stake in the farm and is fully responsible for overseeing its operations. It sold the remaining share to a real estate company for US$7 million in 2023.
The first phase of necessary construction at the soon-to-be growing operation was completed in October.
This American farm also generates revenue through being a rental event space for companies and other groups. It offers horseback riding, a gun range, archery and overnight accommodation for up to 25 people.
Lounge area at the farm. Photo credit: LEEF Brands
LEEF ups its extraction game
In conjunction with this announcement, LEEF also claims that it has significantly expanded its extraction capacity in multiple regards.
The Vancouver Canada-based company boosted its ethanol extraction capability by 66 per cent, its solventless extraction capacity by 50 per cent and its hydrocarbon extraction magnitude by 38 per cent.
Ethanol extraction produces tinctures, distillates and crude oil. Solventless extraction yields rosin, kief and hash. And lastly, hydrocarbon extraction provides shatter, budder and live resin.
These products are produced in a close loop system at LEEF’s state-of-the-art facility in California’s city of Willits.
It is one of the most sophisticated in the entire continent.
A few fractions and flavors put out by the @LeefBrands team this month. These all came off our Hydrocarbon line. pic.twitter.com/9IAO4wAwOU
— Micah Anderson (@micah_A_leef) February 4, 2025
Read more: Kentucky governor celebrates handing out first medical marijuana licenses
Read more: Curaleaf forced to fork out US$32M for settlement with Michigan cultivator
LEEF implements Bitcoin strategy
The company is one of the first public cannabinoid suppliers to integrate the cryptocurrency into its treasury scheme.
LEEF secured a US$5-million-dollar Bitcoin-backed convertible debenture in December. The company will pay 10 per cent interest on it.
This move was aimed at attracting investors with an interest in crypto and diversifying LEEF’s asset base.
“With the planting of Salisbury Canyon Ranch, advances in extraction technology, an innovative Bitcoin treasury strategy, and the potential to expand nationally, 2025 should be a transformational year for the company,” Jesse Redmond said in a social media post last month. He is LEEF’s new Head of Investor Relations & Business Development.
rowan@mugglehead.com
