Source: LEEF Brands (formerly Icanic Brands)
  • LEEF Brands (LEEF) has acquired The Leaf at 73740 LLC in an all-stock transaction
  • The Leaf is a California retailer located in the heart of Palm Desert, California
  • In addition, the company has  granted a total of 8,450,000 restricted stock units (RSUs) to officers and consultants of the company
  • LEEF Brands Inc. (formerly Icanic Brands Company Inc.) is a leading California-based extraction and manufacturing cannabis company.
  • Leef Brands Inc. was up 5.56 per cent, trading at C$0.095 at 09:56 ET

LEEF Brands (LEEF) has acquired The Leaf at 73740 LLC in an all-stock transaction.

The Leaf is a California retailer located in the heart of Palm Desert, California, at 73740 El Paseo.

“We are extremely excited to welcome The Leaf into the LEEF Brands family and to commence our corporate strategy of acquiring top-performing and best-in-class retail dispensaries in locations that will serve to augment LEEF product offerings in select markets,” said Micah Anderson, CEO of LEEF Brands.

“Our acquisition strategy is two-fold: gain operational efficiencies and significantly grow revenue. We will accomplish this by consolidating operating expenses and building the presence of our in-house brands in-store,” he added.

The acquisition includes the premiere dispensary located in the heart of Palm Desert, California and the delivery service that currently serves a population of over 100,000 residents and tourists.

“This is a unique opportunity for us to be a part of a much larger company with the ability to grow within the industry,” said Edward Burger, President of The Leaf.

Based on the terms of the purchase agreement, LEEF brands acquired all of the equity interests in The Leaf for 92,901,504 common shares at a price per share equal to $0.0666.

In addition, the company has granted a total of 8,450,000 restricted stock units (RSUs) to officers and consultants of the company.

LEEF Brands Inc. (formerly Icanic Brands Company Inc.) is a leading California-based extraction and manufacturing cannabis company.

LEEF Brands Inc. was up 5.56 per cent, trading at C$0.095 at 09:56 ET.


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