LEEF Brands announces its groundbreaking move to adopt Bitcoin as a treasury reserve asset, becoming one of the first publicly traded cannabis companies to take this step. The company has entered into an agreement with Canaccord Genuity for a US$5 million convertible debenture offering, with potential for an additional US$750,000 through an Over-Allotment Option.
The debentures, due in 2030, will bear 10% annual interest and be convertible to common shares at US$0.18 per share. They will be secured by Bitcoin holdings, making them the company's first lien debt obligations regarding Bitcoin assets. LEEF has already acquired 3.937 Bitcoin at an average cost of US$88,255.17, stored in a multi-signature cold wallet.
LEEF Brands has successfully closed a private placement financing, raising CAD$2,118,375 through the issuance of 8,473,500 units at CAD$0.25 per unit. Each unit includes one common share and one purchase warrant exercisable at CAD$0.40 for two years.
The proceeds will fund growth initiatives, including the completion of Salisbury Canyon Ranch and new market opportunities. The company's CEO, Micah Anderson, participated by acquiring 140,000 units for CAD$35,000. The financing included a cash fee of CAD$50,400 and 201,600 finder's warrants as compensation to a finder.
All securities issued are subject to a four-month and one-day hold period in Canada.