Icanic Brands Company Inc. (CNSX:ICAN) entered into a non-binding letter of intent to acquire The Leaf at 73740 LLC on September 19, 2022. Under the terms of the LOI, the Company will acquire The Leaf for a purchase price that equates to 1.0x the trailing twelve months of The Leaf?s revenue calculated on the date of closing. The purchase price will be payable in stock based on the 10 day volume weighted average price of the Company?s common shares trading on the Canadian Securities Exchange.

Leef Brands Inc. (CNSX:LEEF) completed the acquisition of The Leaf at 73740 LLC for CAD 8.65 million on January 11, 2023. Under the terms of the purchase agreement, LEEF brands acquired all of the equity interests in the Leaf for 96,138,562 common shares (?Shares?) at a price per share equal to CAD 0.0666. The Acquisition is expected to be immediately accretive to LEEF Brands on both a Sales and EBITDA basis. All Shares issued will be subject to a contractual lock-up period. Bayline Capital Partners acted as financial advisor and Jackson Tidus LLP acted as US legal advisor to LEEF Brands.