VANCOUVER, British Columbia, Nov. 21, 2024 (GLOBE NEWSWIRE) -- LEEF Brands, Inc. ("LEEF" or the "Company") (CSE: LEEF, OTC: LEEED), a premier vertical cannabis operator, is pleased to announce the successful completion on November 18, 2024 of its previously announced consolidation of its common shares (the "Common Shares") on the basis of one post-consolidation Common Share for every ten pre-consolidation Common Shares, with any resulting fractional shares rounded down the nearest whole number (the "Consolidation"). The Consolidation is now in effect, and the Common Shares are trading on the Canadian Securities Exchange and the OTCQB on a post-consolidation basis.
In connection with the Consolidation, the Company's ticker symbol on the OTCQB has temporarily changed to LEEED. This adjustment will remain in effect for 21 days following the date of the Consolidation, after which the Company's ticker symbol on the OTCQB will revert to LEEEF. The Company acknowledges any inconvenience this temporary change may cause and appreciates shareholders' understanding during this transition period.
To address potential delays resulting from the ongoing Canada Post strike, shareholders submitting their Letter of Transmittal and share certificates (if applicable) are encouraged to deliver these documents directly to Olympia Trust Company, the Company's transfer agent, via hand delivery to 4000, 520 - 3rd Ave SW, Calgary, AB T2P 0R3, Attention: Corporate and Shareholder Services, or courier to PO Box 2581, STN Central, Calgary, AB T2P 1C8, Attention: Corporate and Shareholder Services. Once Canada Post resumes normal operations, the Company will mail the Letter of Transmittal to any remaining registered shareholders to facilitate the exchange process. A copy of the Letter of Transmittal is available under the Company's profile on SEDAR+.
LEEF remains committed to maintaining clear communication and minimizing disruptions during this transition. Shareholders requiring assistance or additional information are encouraged to contact the Company's investor relations team at ir@leefca.com.
About LEEF Brands, Inc.
LEEF Brands Inc. is a leading California-based extraction and manufacturing cannabis company, recognized for its large-scale vertical integration and as one of the state's most sophisticated operators. With a comprehensive supply chain, cutting-edge manufacturing processes, and a dynamic bulk concentrate portfolio, LEEF powers some of the largest brands in California. For more information, visit www.LeefBrands.com.
LEEF Brands, Inc.
Per: "Kevin Wilson"
Chief Financial Officer
SOURCE: LEEF Brands, Inc.
For further information:
LEEF Brands, Inc., Micah Anderson, CEO, or Kevin Wilson, CFO, 707-703-4111, ir@leefca.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"), including, but not limited to, the Company ticker symbol on the OTCQB and the mailing of the Letter of Transmittal to registered shareholders. Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved.
All forward-looking statements, including those herein are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including financial and operational results not proving to be as expected or on the timelines expected; the Company not completing certain proposed acquisition or financing transactions at all, or on the timelines expected; the Company not achieving the synergies expected; and other risks disclosed in the Company's Annual Information Form and other public filings on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking statements.
For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at www.sedarplus.ca. The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
