LEEF Brands integrates Bitcoin into treasury reserve through $5 million offering of debenture units.

From GlobeNewswire: 2024-12-16 07:00:00

LEEF Brands, Inc. announces its adoption of Bitcoin as a treasury reserve asset, alongside a private placement offering of up to US$5,000,000 in convertible debenture units. Each debenture unit includes a principal amount of US$1,000 and 5,660 detachable common share purchase warrants. The offering is expected to close in January 2025. The debentures will bear interest at 10% per annum and be due in 2030, with the option to convert into common shares of the Company. The offering aims to fund growth opportunities and acquire Bitcoin, among other purposes. The debentures will be subject to a statutory four-month hold period under applicable Canadian securities laws. The Company’s strategic plan includes integrating Bitcoin into its treasury strategy, with the help of Vice President of Strategy, Jamie Warm, a seasoned professional in both the cannabis and Bitcoin sectors. The Company has also granted the Agents an option to purchase up to an additional US$750,000 of debenture units. Upon closing of the offering, the Company plans to pay the Agents a customary commission for the transaction. The offering will be made on a private placement basis in Canada, the United States, and other jurisdictions agreed upon by the Company and the Lead Agent. The Company’s CEO, Micah Anderson, highlights the strategic value of adding Bitcoin into LEEF Brands treasury, citing similarities between the cannabis and BTC industries.



Read more at GlobeNewswire: LEEF Brands to Become One of the First Publicly Traded