Leef Brands has completed phase 1 construction and local permitting at Salisbury Canyon Ranch, a 1,900-acre property located in Santa Barbara County with a 187-acre Land Use Permit and business license for Cannabis cultivation. The first crop is expected for 2025.
As part of this project, over $7 million has been invested in the purchase of the real estate as well as key infrastructure projects including wells and irrigation systems, cameras and fencing, road improvements, engineered pads, and field preparation and related permits. Phase 1 has resulted in 65 acres of cannabis cultivation area, which helps satisfy the Company's significant supply chain needs.
"The completion of the first phase of Salisbury Canyon Ranch represents a major achievement for our team after a long road to get here," said Micah Anderson, Chief Executive Officer of LEEF Brands. "This addition to our internal supply chain is expected to significantly drive revenue and margin growth in 2025, positioning us well for continued success."
LEEF has also completed the licensing process for a hemp cultivation permit on the Salisbury Canyon Ranch allowing the company to further leverage the newly completed infrastructure as well as add new future revenue streams within the hemp industry. LEEF has been active in the hemp space since 2015 through its wellness brand, LEEF Organics. Management is playing close attention to the changing landscape between hemp and cannabis regulations with the goal to position the company to be able to expand in either, or both directions.
For more information:
Leef Brands
www.leefca.com