LEEF Holdings Archives - Green Market Report

StaffApril 21, 2022
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Icanic Brands Company, Inc. (OTCQB: ICNAF)  has acquired all of the common stock of LEEF Holdings, Inc., a California based extractions company in a merger agreement dated January 21, 2022.

“This is an extremely exciting milestone for LEEF and our entire team,” said LEEF CEO Micah Anderson. “We have all worked tirelessly to build LEEF into what it is today and I truly look forward to continuing to build shareholder value with our new partners at Icanic. I believe that our combined company is well-positioned to dominate the California marketplace with our highly sophisticated manufacturing capabilities combined with our ability to continue to build the brands that we currently have and those that we will seek out. Icanic’s business is highly complementary to the rest of our operations, and we are excited to work alongside their experienced management team to build a stronger company together.”

LEEF is one of the largest cannabis extraction companies in the state of California and is a leading provider of bulk concentrates to many of the largest brands in the state. It is led by a group of legacy operators with decades of experience in organic soil-based farming and sophisticated extraction practices. LEEF’s manufacturing capabilities include a 12,000 square foot extraction and manufacturing facility with significant throughput and distillate extraction capability.

Headquartered in Willits, California, LEEF’s core manufacturing competencies include ethanol extraction (Type 6 manufacturing license), hydrocarbon extraction (Type 7 manufacturing license), and solventless extraction. LEEF has also recently received a 186.7 acre cultivation land use permit, which will make it the owner of one of the largest cannabis cultivation sites in California. The site sits on over 1,900 acres of prime California real estate. Since its inception, LEEF has experienced significant year-over-year growth with strong and consistent gross margins and positive cash flow. From 2019 to the end of 2021, LEEF experienced revenue growth exceeding 100%. With the build-out of the cultivation site, LEEF will be able to provide consistency, quality and quantity to its customers and its’ margins are expected to improve as it gains vertical efficiencies with its in-house supply chain.

“Today is a historic day for Icanic as we officially welcome Micah Anderson and the rest of the Leef Holdings team to our family. Micah has created a truly amazing business and we couldn’t be more excited for this transformational acquisition that now positions the company extremely well to be a market leader in the state of California and beyond” said Brandon Kou, CEO of Icanic Brands. “The significance of this transaction cannot be understated as it finalizes the foundation that we have been building and will now allow the combined entity to take advantage of market opportunities that present themselves over the coming years that should result in some very exciting growth. I want to thank everyone on both teams for their dedication and determination during this process in seeing the transaction to a close.”


Debra BorchardtJanuary 26, 2022
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Icanic Brands Company, Inc. (CSE: ICAN)(OTCQB: ICNAF) is buying California-based extraction company LEEF Holdings, Inc. in a deal valued at approximately $120 million. The acquisition is expected to close in the first quarter of 2022. Leef is one of the largest cannabis extraction companies in the state of California and is a leading provider of bulk concentrates for many of the largest brands in the state. Leef’s manufacturing capabilities include a 12,000 sq. ft state of the art extraction and manufacturing facility with up to 45 tons of biomass throughput per month and up to 3,000 liters of distillate extraction capability per month.

“Today represents a huge milestone for Icanic. Our ability to come together as one with an amazing company like LEEF will only further enhance our position in the market. Micah and the rest of the team have done an amazing job building one of the leaders in the California market and we couldn’t be prouder to call them our partners” said Brandon Kou, CEO of Icanic Brands. “This marriage will allow us to accomplish our collective goals quicker and I am proud to say that the combined teams have already been hard at work analyzing the synergies and identifying efficiencies allowing us to build towards a singular infrastructure.”

Leef is Headquartered in Willits, California, and its core manufacturing competencies include ethanol extraction (Type 6 manufacturing license), hydrocarbon extraction (Type 7 manufacturing license), and solventless extraction. Leef also has an edibles production line and is in the process of building out a 45,000 sq.ft mid-stream processing facility which will allow it to dry its own product and provide additional services including processing, distribution and delivery to its customers. Leef also recently received a 186.7-acre cultivation land use permit, which will make it the owner of one of the largest cannabis cultivation sites in California. The site sits on over 1,900 acres of prime California real estate.

Micah Anderson, CEO of Leef said, “I am incredibly excited to be taking LEEF into the next stage of its development and together with our new partners at Icanic. We look forward to continuing to build significant shareholder value for many years to come. It’s because of the relentless hard work of LEEF’s employees that we have found ourselves at what I believe is the starting point to the next chapter. I have been in the cannabis industry for many years and, along with the other founding partners of LEEF, have devoted our entire lives to building our company. Winning is the result of having the right people working together with the right vision and Icanic’s management team only strengthens the talents and relationships LEEF brings to the table. I look forward to working with the Icanic team to add tremendous value to the combined organization as it continues to expand and grow in the coming years.”

Icanic Brands is a leading cannabis branded products manufacturer based in California & Nevada. The company’s brands include GonjaGold and Taylor’s. The company has been under management cease trade order by the British Columbia Securities Commission due to a delay in filing the company’s financial statements. Icanic said it expects to file the Annual Filings and the Interim filings for the period ended October 31, 2021, on or before January 29, 2022. “During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, the Company’s chief executive officer and the chief financial officer will not be able to trade in the Company’s shares.”


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