LEEF Brands Reports Full Year 2023 Financial Results Along with First Quarter 2024 Financial Results - Seite 2

“We've achieved record gross margins of 40.6% in Q1 2024, alongside positive cash flow from operations throughout 2023 and into the first quarter of 2024” added Kevin Wilson, Chief Financial Officer. “These milestones are a testament to the LEEF team’s exceptional management of our supply chain and our commitment to partnering with high-quality customers. The dedication and strategic focus have been crucial in reaching these financial highs. As we move forward with our plans to plant at Salisbury Canyon Ranch, we're confident in our team's ability to sustain and build on this momentum throughout the year and into 2025.”

The Company has also announced the issuance of 15,000,000 common shares at an average price of $0.03 CAD per share to settle $450,000 USD of payables to a service provider.

Select Financial Highlights

LEEF's full audited financial statements for the full year 2023 and the first quarter of 2024 are available on the Company's website at www.leefbrands.com and under the Company’s profile at www.sedar.com.

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 www.LeefBrands.com.

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, [e-mail]

Non-IFRS Financial Measures

LEEF Brands, Inc. defines EBITDA as Net Loss (IFRS) adjusted for interest and financing costs, income taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA excluding share-based compensation, loss (income) on equity method investments, change in fair value of derivative liabilities, change in fair value of contingent liabilities, acquisition-related professional fees, and non-operational start-up costs.

EBITDA and Adjusted EBITDA are presented because management has evaluated the financial results both including and excluding the adjusted items and believe that the supplemental non-IFRS financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. Such supplemental non-IFRS financial measures are not standardized financial measures under IFRS used to prepare the Company's financial statements and might not be comparable to similar financial measures disclosed by other companies and, thus, should only be considered in conjunction with the IFRS financial measures presented herein.