LEEF Brands said it raised $5.2 million that will be used to purchase a cannabis processing and storage facility that will dry, cure, freeze, and store biomass harvested at Salisbury Canyon Ranch before it is transported to LEEF Labs in Mendocino County for extraction.
The facility is expected to provide the capacity needed to support Salisbury Canyon Ranch today, accommodate the company’s planned expansion to its fully permitted 180-acre cultivation footprint, and provide additional capacity when LEEF expands cultivation to serve future interstate commerce and international export markets. In addition to supporting the company’s cultivation operations, the facility has the potential to generate an additional revenue stream by providing processing and storage services for other cultivators.
"This financing represents another important milestone for LEEF as we continue investing in the infrastructure needed to support our long-term growth strategy," said LEEF CEO Micah Anderson in a statement. "Over the past two years, we’ve built one of California’s premier low-cost cultivation platforms at Salisbury Canyon Ranch. Owning our own processing and storage facility is the next step in strengthening our vertically integrated supply chain, supporting the continued expansion of Salisbury Canyon Ranch, and positioning LEEF to capitalize on future opportunities in California, interstate commerce, and international export markets."
