Key Takeaways
- LEEF Brands integrates Bitcoin into its treasury strategy via a $5M offering.
- Debentures are secured by Bitcoin and convertible at $0.18 per share.
- Jamie Warm joins as VP of Strategy to oversee Bitcoin initiatives.
LEEF Brands, Inc. (CSE: LEEF), a leading publicly traded cannabis company, has announced its decision to integrate Bitcoin into its treasury reserve, making it one of the first cannabis firms to take this step.
To support this move, LEEF has partnered with Canaccord Genuity for a $5 million Bitcoin-backed debenture offering.
Offering details
The offering comprises $1,000 convertible debentures and 5,660 share purchase warrants per unit.
Debentures bear 10% annual interest, maturing in 2030, and can be converted into common shares at approximately $0.18 per share.
Warrants allow holders to purchase shares at $0.28 within three years. If the share price hits $0.49 for ten consecutive days, LEEF can accelerate warrant expiry.
Leadership commentary
LEEF’s CEO, Micah Anderson, emphasized the strategic value of Bitcoin:
Adding Bitcoin into LEEF Brands’ treasury can amplify the growth and value of the company.
The company has already acquired 3.937 Bitcoin, secured in institutional-grade cold storage.
New leadership appointment
To lead the initiative, Jamie Warm, a veteran in cannabis and Bitcoin industries, has been appointed VP of Strategy.
Warm stated:
Cannabis needs Bitcoin… This strategy enhances shareholder value while providing financial resilience.
Use of proceeds
The offering’s net proceeds will fund Bitcoin acquisitions, operational growth, and general corporate purposes, aligning with LEEF’s goal to integrate Bitcoin as a long-term treasury asset.
