Entry Into New York Cannabis Market Sends Micro-Cap Higher

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Tuesday, February 18, 2025

The U.S. cannabis industry has grown like a weed, sorry, we had to do that.  Combined medical and adult-use cannabis sales reached $31.4 billion in 2024, a 9.14% increase from the previous year. Projections suggest continued growth, with revenues exploding to $45.3 billion by 2025 and $49.56 billion by 2029. State-level data also supports this trend growth, as New York's legal cannabis market approached $1 billion in annual sales in 2024.

Speaking of New York, LEEF Brands Inc. (CSE: LEEF), a California cannabis extraction company, announced this morning the signing of a binding Letter of Intent to acquire a Type 1 processing license, marking its strategic entry into New York's rapidly expanding cannabis market.

In addition to acquiring the license, LEEF has secured a 7,000-square-foot facility and positioned extraction equipment in New York, allowing for rapid market entry with minimal capital expenditure.

"New York represents an incredible opportunity for LEEF Brands, particularly with concentrates used in 55% of all cannabis products sold in the state," said Micah Anderson, CEO of LEEF Brands. "With our equipment in place and a facility ready to launch, this expansion positions us to generate new revenue streams in 2025, increase margins, and enhance stability through market diversification—all while maintaining our high-quality standards."

Shareholders are clearly happy with the development this morning, sending shares of LEEF (Canada) up $0.04 to $0.285.

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