VANCOUVER, British Columbia, Feb. 08, 2024 (GLOBE NEWSWIRE) -- LEEF Brands, Inc. ("LEEF" or the "Company") (CSE: LEEF, OTC: LEEEF), a premier vertical cannabis operator, today announced a strategic partnership with Lifted Organics ("Lifted") on the formation of a joint venture nursery, where both entities will hold an equal 50% ownership stake. The companies are thrilled to unveil their collaborative partnership that will greatly enhance each of their cultivation efforts. This joint venture, named 1PN Nursery, is strategically located near Lifted Organics' existing operations in Watsonville, California.
The 1PN Nursery project represents a significant milestone for both LEEF Brands and Lifted Organics, allowing them to further vertically integrate by bringing nursery operations in-house, which will improve control over their genetic offerings and reduce costs. Customer acquisition and retention is highly dependent on offering a compelling, diversified, and exclusive strain menu which this joint venture will provide for LEEF's concentrates customers and Lifted' s fresh frozen customers.
Aziz Nashat, an owner and founder of Lifted, shared his insights, stating, "Genetic selection and propagation are some of the toughest challenges facing large scale, outdoor cannabis cultivators. In addition to reducing the cost of plants, we will no longer have to compete with other large-scale growers for strains and delivery dates or plant the same strains as those farms. Bringing nursery operations in house will allow both companies to offer clients a selection of strains that can be requested by or exclusive to those clients. This will set us apart from our competition."
Micah Anderson, CEO of LEEF Brands, expressed his enthusiasm for this transformative endeavor, saying, "I am excited to see LEEF realize the benefits of a more vertical supply chain and, above all, to witness the alignment of a like-minded team dedicated to supporting the future success of this monumental project."
This joint venture represents a significant step forward in the cannabis industry, combining expertise and resources to push the boundaries of cannabis cultivation and innovation.
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 .
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