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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) — LEEF Manufacturers, Inc. (“LEEF” or the “Firm”) (CSE: LEEF) (OTC: LEEEF) is happy to announce a 10-for-1 share consolidation (the “Consolidation”) of the Firm’s frequent shares, in addition to a proposed non-public placement to boost as much as $2,500,000 (the “Financing”).
Share Consolidation Particulars:
The Consolidation will consolidate the Firm’s issued and excellent frequent shares based mostly on ten pre-consolidation shares for one post-consolidation share. The Consolidation goals to enhance the Firm’s capital construction, enhance its attractiveness to institutional traders, and supply a extra secure buying and selling platform.
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Upon completion of the Consolidation, the Firm could have roughly 162,762,651 frequent shares issued and excellent, topic to rounding changes. The Consolidation will take impact November 18, 2024 with buying and selling anticipated to start on a consolidated foundation on the Canadian Securities Change and OTCQB on November 18th, 2024.
A letter of transmittal with respect to the Consolidation will likely be mailed to registered shareholders of the Firm. All registered shareholders with bodily certificates will likely be required to ship their certificates representing pre-consolidation frequent shares together with a accomplished letter of transmittal to the Firm’s switch agent, Olympia Belief Firm (“Olympia”), in accordance with the directions supplied within the letter of transmittal. Extra copies of the letter of transmittal could be obtained via Olympia. All shareholders who submit a duly accomplished letter of transmittal together with their pre-Consolidation share certificates(s) to Olympia will obtain a post-Consolidation share certificates. Shareholders who maintain their frequent shares via a dealer or different middleman and wouldn’t have frequent shares registered of their identify is not going to want to finish a letter of transmittal.
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Personal Placement Financing:
Concurrent with the Consolidation, LEEF Manufacturers is enterprise a personal placement to boost gross proceeds of as much as CAD $2,500,000 via the issuance of as much as 10,000,000 items (the “Items”). Every Unit will likely be priced at $0.25 (post-Consolidation) and can consist of 1 frequent share and one frequent share buy warrant (the “Warrant”).
Every Warrant will entitle the holder to buy one further frequent share of the Firm at an train value of $0.40 (post-Consolidation) for a interval of two years. The Warrants will embody an acceleration clause, whereby, on the Firm’s election, the Warrants could also be known as for redemption if the Firm’s frequent shares commerce at or above $0.60 CAD for ten consecutive enterprise days.
Proceeds from the financing will likely be used to drive development, with a concentrate on finishing the farm and pursuing new market alternatives.
Micah Anderson, CEO of LEEF Manufacturers, commented: “This share consolidation and concurrent financing will enhance our capital construction and supply the corporate with the mandatory sources to speed up our development plans. We imagine these initiatives will appeal to a broader investor base, improve liquidity, and assist unlock shareholder worth as we proceed to increase our presence as a large-scale producer of hashish concentrates.”
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Closing of the Financing stays topic to CSE approval and different customary circumstances.
About LEEF Manufacturers Inc.
LEEF Manufacturers Inc. is a number one California-based extraction and manufacturing hashish firm, acknowledged for its large-scale vertical integration and as one of many state’s most refined operators. With a complete provide chain, cutting-edge manufacturing processes, and a dynamic bulk focus portfolio, LEEF powers a few of the largest manufacturers in California. For extra info, go to www.LeefBrands.com.
LEEF Manufacturers Inc.
Per: “Kevin Wilson”
Chief Monetary Officer
Ahead-Trying Statements
This information launch incorporates sure forward-looking info and forward-looking statements, as outlined in relevant securities legal guidelines (collectively referred to herein as “forward-looking statements”) together with, however not restricted to, the anticipated results of the settlement of the Firm’s convertible debentures for fairness and the extension of the maturity of the Firm’s convertible debentures; the anticipated rescheduling of hashish underneath United States federal rules and the anticipated results thereof; and the anticipated closing of an fairness providing and the anticipated use of proceeds therefrom. Ahead-looking statements replicate present expectations or beliefs relating to future occasions or the Firm’s future efficiency or monetary outcomes. All statements aside from statements of historic truth are forward-looking statements. Typically, however not all the time, forward-looking statements could be recognized by way of phrases similar to “plans”, “expects”, “is anticipated”, “finances”, “scheduled”, “estimates”, “continues”, “forecasts”, “tasks”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such phrases and phrases or state that sure actions, occasions or outcomes “might”, “may”, “would”, “ought to”, “may” or “will” be taken, happen or be achieved. All forward-looking statements, together with these herein are certified by this cautionary assertion. Though the Firm believes that the expectations expressed in such statements are based mostly on cheap assumptions, such statements aren’t ensures of future efficiency and precise outcomes or developments might differ materially from these within the statements. There are specific elements that would trigger precise outcomes to vary materially from these within the forward-looking info, together with monetary and operational outcomes not proving to be as anticipated or on the timelines anticipated; the Firm not finishing sure proposed acquisition or financing transactions in any respect, or on the timelines anticipated; the Firm not reaching the synergies anticipated; and different dangers disclosed within the Firm’s Annual Data Type and different public filings on SEDAR+ at www.sedarplus.ca. Accordingly, readers mustn’t place undue reliance on forward-looking statements.
For extra info on the Firm, traders are inspired to evaluate the Firm’s public filings on SEDAR+ at www.sedarplus.ca. The forward-looking statements and monetary outlooks contained on this information launch converse solely as of the date of this information launch or as of the date or dates laid out in such statements. The Firm disclaims any intention or obligation to replace or revise any forward-looking info, whether or not on account of new info, future occasions or in any other case, aside from as required by legislation.
SOURCE LEEF Manufacturers, Inc.
LEEF Manufacturers, Inc., Micah Anderson, CEO, or Kevin Wilson, CFO, 707-703-4111, ir@leefca.com
This information launch doesn’t represent a proposal to promote securities, neither is it a solicitation of a proposal to purchase securities, in any jurisdiction. The securities haven’t been and won’t be registered underneath the US Securities Act of 1933 and accordingly is not going to be provided, offered or delivered, instantly or not directly inside the US, its possessions and different areas topic to its jurisdiction or to, or for the account or for the good thing about a U.S. individual, besides pursuant to relevant exemptions from the registration necessities.
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