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Financings

LEEF Brands Announces Full Early Conversion of CAD Convertible Debentures

By The Northwire Desk — AI Analysis Dec 29, 2025 · 16:01 LEEF · 0.24 Leef Brands Inc.
LEEF · Price

Executive Summary

  • LEEF Brands completed the full early conversion of all outstanding CAD‑denominated convertible debentures (≈ CAD $237k) into approximately 946,309 units at a CAD $0.25 per unit price.
  • The conversion eliminates the company’s remaining CAD convertible debt, strengthening its balance sheet and improving financial flexibility for growth in California and New York.
  • Management highlighted operational momentum with 24% YoY revenue growth and doubled gross margins in Q3, underscoring a positive outlook.

Key Details

  • Conversion Terms: Debenture holders received units consisting of one common share plus one warrant (exercise price CAD $0.30, 36‑month term).
  • Units Issued: Approximately 946,309 units were issued upon conversion.
  • Outstanding Debt Eliminated: CAD $237,000 of convertible debentures fully converted; remaining debt consists of a $4.2 M note at 4% interest and a $7.0 M zero‑interest note.
  • Strategic Rationale:
  • Removes all CAD convertible debenture obligations, enhancing balance‑sheet strength.
  • Increases financial flexibility to support scaling operations in California and New York, including expansion of Salisbury Canyon Ranch and NY processing facilities.
  • Demonstrates continued confidence from long‑standing debenture holders.
  • Operational Highlights: Reported 24% year‑over‑year revenue growth and a doubling of gross margins for Q3 2025.
  • Additional Equity Activity: 6,081,053 restricted share units were exercised and settled into common shares.
  • Management Quote (CEO Micah Anderson): “With this milestone, the convertible debenture that originally helped capitalize the Company has now been fully eliminated from our balance sheet… This marks the start of a new chapter, giving us the flexibility to strengthen and leverage our balance sheet as needed to support future growth and create long‑term value.”

Notable Quotes

  • “We’re grateful to our debenture holders for their years of support and partnership. This marks the start of a new chapter…” – Micah Anderson, CEO

Materiality: Material – Positive (significant impact on capital structure and future growth capacity).

Read the original news release →

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