Mr. Micah Anderson reports

LEEF BRANDS CONFIRMS AMENDMENTS TO CONVERTIBLE DEBENTURES

Holders of Leef Brands Inc.'s 11.0 per cent secured convertible debentures due Sept. 9, 2024, have approved proposed amendments to the indenture governing the Sept. 9 debentures that extend their maturity date from Sept. 9, 2024, until Sept. 9, 2027, and give holders a one-time opportunity to settle their Sept. 9 debentures by way of conversion at a price of 2.9 cents per unit, where each unit consists of one common share of the company and one common share purchase warrant of the company.

Holders of the Sept. 9 debentures have approved the amendments by way of written consent. Accordingly, the meeting of debentureholders previously called to approve the amendments is hereby cancelled. The company expects to execute a supplemental indenture effecting the amendments on or about April 19, 2024.

The company also announces that it has cancelled the previously called meeting of holders of its 11.0 per cent secured convertible debentures due Sept. 8, 2024, scheduled for April 19, 2024. This meeting was called to seek approval to amend the Sept. 8 debentures in the same manner as the amendments described above. The company currently expects to obtain approval to amend the Sept. 8 debentures through an extraordinary resolution of holders passed by written consent.

"We would like to thank debentureholders for their support during this process," stated Kevin Wilson, chief financial officer. "Restructuring the debentures is an important step in the company's strategic plan. We will provide further information in the coming weeks."

About Leef Brands Inc.

Leef Brands 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 Brands powers some of the largest brands in California.

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