[PRESS RELEASE] – VANCOUVER, British Columbia, April 17, 2025 – LEEF Brands Inc., one of California’s largest and most sophisticated cannabis companies, has successfully begun planting Salisbury Canyon Ranch, a 1,900-acre trophy ranch that is set to become one of the largest cannabis farms in the world.
LEEF is planting 65 acres of cannabis this spring, and Salisbury Canyon Ranch will have two harvests this year—one in the summer and another in the fall. The summer harvest will primarily be used for distillate production, and the fall run will add strains optimized for hydrocarbon and solventless extraction.
The Company plans to expand operations to 187 acres of cannabis cultivation by 2027. LEEF also holds a 100-acre hemp permit for the property, which it is strategically evaluating for optimal implementation.
"This is the culmination of years of hard work and is a transformational milestone for our company," LEEF Brands CEO Micah Anderson said. "Salisbury Canyon Ranch represents not just a massive scaling of our production capabilities, but a fundamental shift in how we control our supply chain, ensure product quality, and manage costs."
By bringing cultivation in-house at this scale, LEEF expects to significantly reduce input costs while gaining greater control over supply and enhancing the quality of its concentrates. The farm is expected to drive margin improvements beginning in the second half of 2025 and beyond.
Salisbury Canyon Ranch Valuation
Salisbury Canyon Ranch was recently independently valued at $40 million, approximately twice the company’s current market cap. LEEF acquired Salisbury Canyon Ranch in 2023 for $5.5 million and has invested approximately $7 million in infrastructure improvements. The $40 million valuation underscores this project's strong return on investment to shareholders.
Jesse Redmond, head of Investor Relations and Business Development, recently discussed the valuation and plans for planting the farm with Anderson and chief financial officer Kevin Wilson. The full video is available here.
Corporate Update
LEEF issued 600,000 common shares at an average price of $0.24 CAD per share to settle $100,000 USD of payables to a service provider.
