Glass House Brands and LEEF Announce MSA for The Leaf El Paseo Dispensary and Off-take Agreement
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) — LEEF Brands Inc. (CSE: LEEF) (OTCQB: LEEEF) ('LEEF' or the 'Company'), one of California's premier vertical extraction companies, today announced a Management Services Agreement ('MSA') with Glass House Brands, Inc. (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF), a leading vertically integrated cannabis operator in the United States. Under the MSA, Glass House will manage operations of LEEF's Palm Desert, California, dispensary, 'The Leaf El Paseo,' on behalf of LEEF.
Article content
Article content
Article content
This mutually beneficial agreement grants Glass House exclusive rights to manage all dispensary operations, including, but not limited to, the sale of cannabis products, the purchase of cannabis product inventory, and employee management, for an initial period of one year, with the potential for extension. This agreement marks the first of its kind for Glass House.
Article content
Glass House will assume daily management responsibilities of The Leaf El Paseo, allowing Glass House to expand its retail footprint in California while enabling LEEF to focus on its core business as a premier concentrate provider. The agreement includes an off-take agreement from Glass House to LEEF, securing a significant portion of the annual raw cannabis material required to power LEEF's extraction lines.
Article content
'We are excited to work with LEEF, a respected peer in California under this agreement, as we expand our exposure to the Palm Springs market for both retail and wholesale contributions,' said Kyle Kazan, Co-Founder, Chairman, and CEO of Glass House Brands. 'This MSA agreement represents the continued development of our retail operation and reflects our strength and overall solid position in the California market, through execution and on the benefit of the strategic pricing initiatives that we implemented last year. Despite continued challenging market conditions, our retail team has seen same-store sales increase on an annualized basis for five consecutive quarters, and in our most recent quarter, retail revenue growth outperformed the California market by more than 30%. And as all of our decisions are based on what is best for the cannabis consumer, offering our loyalty program to another great area of California is a tremendous win. Plus, Palm Desert is a well-known vacation area.'
Article content
Article content
'Collaborating with Glass House Brands elevates The Leaf El Paseo and secures a favorable off-take agreement that fulfills a significant portion of our annual supply chain needs for our extraction business,' said Micah Anderson, CEO of LEEF Brands. 'This partnership is a true win-win, allowing LEEF to sharpen our focus on being a leading concentrate provider while enabling Glass House to expand its retail footprint in California. This agreement strengthens LEEF's production capacity and lays the foundation for broader strategic partnerships with Glass House.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
5 minutes ago
- Cision Canada
Canada Nickel Releases 2024 ESG Report
TORONTO, Aug. 5, 2025 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQB: CNIKF) today released its 2024 Environmental, Social and Governance (ESG) Report, showcasing continued progress across carbon storage innovation, Indigenous partnerships, local economic development, health and safety, and environmental stewardship. The report underscores Canada Nickel's growing role in Ontario's Critical Minerals Corridor and outlines the Company's strategy to responsibly supply the materials essential to Canada's clean energy transition and defense resilience. "The milestones achieved in 2024 reflect the strength and vision of our team and the powerful model we're building with Indigenous Nations and communities across the Timmins Nickel District," said Mark Selby, CEO of Canada Nickel. "With major partnerships, a unique carbon storage solution, and strong support across the region, we are proud to be advancing nickel in a way that is inclusive, future-focused, and aligned with the goals of both the Governments of Ontario and Canada's critical minerals strategies." Throughout 2024, Canada Nickel deepened its collaboration with Indigenous Nations, advanced low-carbon technologies, and reinforced its commitment to responsible development through transparent reporting and inclusive governance. The Company's efforts position it not only as a cleaner nickel producer than the industry standard, but as a trusted partner in shaping the next generation of sustainable mining in Canada. "Indigenous partnerships and community stewardship are not a side project at Canada Nickel – they are embedded into how we operate," said Pierre-Philippe Dupont, Vice President of Sustainability. "We are building more than a mine; we are helping build a resilient, low-carbon critical minerals corridor that reflects the values of the communities we work with. From equity ownership and business partnerships to direct investment in local infrastructure, this is what inclusive growth looks like." Key Highlights from Canada Nickel's 2024 ESG Report Indigenous Partnerships and Engagement Canada Nickel signed a landmark contracting agreement with Flying Post, Matachewan, and Mattagami First Nations to ensure Indigenous business leadership in infrastructure construction for the Crawford Project. Taykwa Tagamou Nation became the first Indigenous Nation in Canada to invest $20 million in a critical minerals project, securing an equity stake and the right to appoint a director to Canada Nickel's Board. Formal mitigation measures and engagement processes were established with all potentially impacted Indigenous Nations through the submission of the federal Impact Statement for the Crawford Nickel Sulphide Project. Environmental Stewardship and Climate Innovation Pilot testing of the Company's In-Process Tailings (IPT) Carbonation technology confirmed the potential to permanently store up to 1.5 million tonnes of CO₂ annually, establishing the Crawford site as one of North America's largest proposed carbon sinks. Water intensity decreased to 0.38 m³/metre drilled in 2024 from 0.48 despite a 464% increase in drilling through water recycling, tracking, and on-site flow meters. No environmental non-compliance incidents were recorded, reinforcing the Company's strong environmental performance. Local Economic Contributions 60% of new hires in 2024 were local and 37% of $32.5 million in procurement spent was directed to local suppliers in the Timmins region. Governance and Leadership Female representation was 33% on the Company's Board and 34% across the broader workforce—more than twice the industry average. Reporting and Transparency Canada Nickel remains one of the only junior mining companies in Canada to have produced three consecutive ESG reports aligned with the United Nations Global Compact, Global Reporting Initiative, and the United Nations Sustainable Development Goals, with the last two reports also aligning with the Task Force on Climate-related Financial Disclosures. For more information and to read the full 2024 ESG Report, please click here. About Canada Nickel Company Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM, NetZero Cobalt TM, NetZero Iron TM, and is pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit For further information, please contact: Mark Selby, CEO Phone: 647-256-1954 Email: [email protected] Sydney Oakes, Director of Indigenous Relations and Public Affairs Phone: 905-929-7151 Email: [email protected] Cautionary Statement Concerning Forward-Looking Statements This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Market Online
36 minutes ago
- The Market Online
Bank Profits, Gold Stability, and Bitcoin Returns: Commerzbank, AJN Resources, and Coinbase - Where is it worth investing?
In turbulent markets, investors in 2025 are seeking both stable pillars and strong return opportunities. Traditional financial institutions are once again proving their resilience, strengthened by regulatory reforms and solid capital ratios. At the same time, physical gold continues to reinforce its role as a safe haven, while digital assets are attracting investors with their disruptive potential and spectacular profit opportunities. This three-pronged strategy of stability, tangible assets, and innovation defines the smart portfolio diversification of our time. Against this backdrop, we analyze one representative from each area with Commerzbank, AJN Resources, and Coinbase. This article is disseminated in partnership with Apaton Finance GmbH. It is intended to inform investors and should not be taken as a recommendation or financial advice. Commerzbank is currently delivering an impressive stock market performance. Since the beginning of the year, its share price has more than doubled, recently reaching levels not seen in over 15 years. This momentum is fueled by a combination of solid operating results and strategic speculation. The quarterly figures on August 6 will be decisive for the further direction. Analysts expect net income of EUR 355-700 million for the second quarter. This figure underscores the robustness of the business model despite one-time restructuring costs. The bank has already impressed with improved resilience in the latest EBA stress test. Behind the scenes, major shareholder UniCredit of Italy is pressing ahead with determination. Following the failed takeover attempt of Banco BPM, the Milan-based bank is now fully focused on Commerzbank. It already holds 20.17% of the direct voting rights and controls a further 9.16% through derivatives, bringing them closer to the critical 30% threshold that would trigger a mandatory offer. CEO Andrea Orcel has emphasized that such a takeover is not currently planned, but at the same time signals significant return expectations from the investment. Commerzbank and German politicians are resisting a takeover, but the Italians' influence is growing step by step. Commerzbank's fundamental strength remains impressive. Its return on equity is stable in double digits, and its CET1 ratio of over 14% shows solid buffers. Its core business with medium-sized companies continues to perform reliably. Nevertheless, the bank faces challenges. The German economy is shrinking slightly, which is weighing on credit demand and risk provisioning. In addition, the stock is no longer cheap after its strong run. The upcoming quarterly figures will show whether the operating strength still justifies the high expectations. On Friday, the stock closed at EUR 31.80 in Xetra trading. AJN Resources – Green light for drilling program in Ethiopia Gold remains a safe haven in turbulent markets, and explorers with promising projects are in focus. AJN Resources (CSE:AJN) has now reached a decisive milestone. On July 29, the Company received official approval to begin due diligence on the high-grade Okote project in Ethiopia. For CEO Klaus Eckhof, whose expertise spans numerous African mineral deposits, this marks the start of targeted activities. The timing is ideal with gold prices remaining stable, undeveloped projects in attractive regions are coming to the fore. The lithium projects in the Democratic Republic of Congo have been put on hold for the time being. The focus is once again increasingly on gold. Concrete progress is now being made on the Okote property. AJN will immediately begin detailed mapping and sampling of newly discovered artisanal mining areas. These areas are up to 3,000 m long and 500 m wide, located northeast of the historic drill zones, and have never been systematically explored. The start of a 1,500-meter drilling program in the next 4-6 weeks is therefore particularly exciting. It will not only serve to confirm historical results of 1.6-8.7 g/t gold, but will also test the highly prospective new area for the first time. Existing drill cores and trenches from the previous owner will be analyzed in parallel, an efficient dual strategy. With the consent of the regional government and license partner Godu, AJN is moving forward at a remarkable pace. CEO and President Klaus Eckhof commented: ' We are also looking forward to conducting our own mineral resource estimate, as previous consultants have indicated that the Okote project has the potential to contain several million ounces. We look forward to rapidly advancing our initial due diligence drilling program in the coming months to understand and unlock the true potential of the project .' The current market valuation of less than CAD 6 million appears attractive given this operational progress. Should the upcoming drilling and sampling confirm the large untested potential, as expected by Eckhof, this could trigger a revaluation. The share is currently trading at CAD 0.09. Coinbase – Services grow, trading weakens Coinbase is bucking the downward trend in the crypto market. In the second quarter, the platform generated total revenue of USD 1.5 billion. There was a clear divide. The traditional transaction business with fees from purchases/sales brought in USD 764 million, significantly less than in strong phases. The subscription and services business developed much more robustly, generating USD 656 million. EBITDA of USD 512 million remained respectable, even though adjusted net income of USD 33 million was significantly below the reported high net income of USD 1.4 billion, which was strongly driven by special items such as valuation gains. The figures reflect the decline in trading activity. Nevertheless, Coinbase is expanding its position, particularly in the lucrative custody business, where customers park an average of 7% of the total crypto market value. The stablecoin USDC business is also gaining in importance. Average holdings in Coinbase products rose to USD 13.8 billion, strengthening recurring revenues. On the cost side, one-off expenses due to a data breach weighed heavily. Operating costs rose by 15% overall, partly because the workforce grew by 8% to drive international expansion and new products. Regulatory progress has been made. New US legislation creates a clear framework for stablecoins and tokenized assets for the first time, which represents a strategic opportunity for Coinbase in its home market. For the coming quarter, the Company expects subscription and service revenues to rise slightly to between USD 665 million and USD 745 million, supported by rising crypto prices and record USDC holdings. Costs are expected to continue rising, driven by personnel expansion, product development, and internationalization efforts. The development of the transaction business remains cautious given the potential for market volatility. Investors are selling the stock following the quarterly figures, which last traded at USD 314.69. In turbulent markets, the triple strategy of stability, real assets and innovation is proving convincing. Commerzbank scores with a robust capital base and takeover speculation, but will have to justify its high valuation with its upcoming quarterly figures. AJN Resources has the opportunity to unlock its significant upside potential with the start of drilling at its Okote Gold project in Ethiopia, provided exploration is successful. Coinbase, on the other hand, is bucking the trend of weakening transaction volumes with growing service revenues, particularly in the custody business, and is benefitting from a clearer regulatory framework. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a 'Transaction'). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company. In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships. For this reason, there is a concrete conflict of interest. The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies. Risk notice Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such. The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user. The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
The Market Online
2 hours ago
- The Market Online
RENK facing takeover? Crash at Novo Nordisk! Buying opportunity in AJN Resources shares!
AJN Resources (CSE:AJN) shares currently offer an exciting opportunity to position yourself for the next rally in the gold price. The Company announced yesterday that it has received approval to explore its property in the vicinity of the largest gold deposit in Ethiopia. The regular news flow expected in the coming months should give AJN shares new momentum. There are currently exciting developments in the European defense industry. Ahead of its IPO, KNDS has further increased its stake in supplier RENK. There were problems with another major shareholder in the run-up to the IPO. Novo Nordisk is currently facing completely different issues. The Danish company has lowered its revenue and profit forecasts, causing its share price to crash. Is now the time to buy? This article is disseminated in partnership with Apaton Finance GmbH. It is intended to inform investors and should not be taken as a recommendation or financial advice. The gold price is currently taking a breather at a high level. Investors can use this opportunity to position themselves for the next rally. There are many reasons for the upward trend to continue: geopolitical tensions, inflation, currency risks, and increased purchases by central banks. In such an environment, shares in exploration companies are likely to perform well. AJN Resources (CSE:AJN) is an interesting comeback story in this sector. The Company, with experienced geologist Klaus Eckhof as CEO, is currently focusing on the Okote project. The 42.8 km2 area is located only 100 km from Ethiopia's largest deposit, Lega Dembi. The previous owner (Godu General Trading S.C.) had already drilled nearly 14,000 meters in 2019. This revealed mineralization between 1.6 and 8.7 grams per ton. Eckhof sees the potential for several million ounces of gold. AJN announced an important step yesterday to verify this. It has received permission to begin due diligence for the Okote Gold project. In the next step, AJN will prepare detailed mapping and drilling programs for areas outside the already tested area. In addition, drill cores from historical drilling and a series of trenches already excavated by Godu will be examined. To confirm the historical drill results, a 1,500-meter drilling program is scheduled to start within 4 to 6 weeks. AJN CEO Klaus Eckhof commented: ' We are very pleased to have finally received approval to commence due diligence on the Okote Gold project, where recent desktop studies indicate that only 25% of the identified mineralized area has been covered by drilling. We have always believed that the project has tremendous potential that has not yet been tested by drilling, and this appears to be the case .' The regular news flow expected in the coming months should provide AJN's stock with new momentum. With a market capitalization of less than CAD 10 million, the Company appears to be anything but highly valued. Is the takeover merry-go-round picking up speed in the defense sector? It has been known for several weeks that tank manufacturer KNDS is expected to go public and that the German government could get involved. Now KNDS is increasing its stake in RENK. According to a statement released on Monday, KNDS has acquired 9,166,667 RENK shares from financial investor Triton. The price at which the shares were acquired was not disclosed. This makes the French-German defense group the largest RENK shareholder with a stake of 15.8%. However, the deal did not go entirely smoothly. According to Manager Magazin, there were disagreements between KNDS and Triton in the run-up to the agreement. The purchase option between the two was agreed upon at the time of RENK's IPO in early 2024. The IPO price was set at EUR 15, and the option to purchase 18.4% was set at EUR 20. After the sharp rise in the share price, Triton apparently wanted to renegotiate. After all, RENK shares are currently trading at around EUR 68. The agreement appears to be that KNDS has only exercised half of the option, and Triton will retain the remaining shares. RENK is an important supplier for KNDS. The Augsburg-based company supplies gearboxes for the Leopard 2 battle tank built by KNDS, among other things. The two companies also collaborate on other vehicles. It will be exciting to see what Triton does with the remaining RENK shares. In any case, there appears to be movement among European defense companies. It should be noted that governments in Germany and France, in particular, are vying for influence. Recently, various media outlets reported disagreements over plans for the new generation of joint combat aircraft (Future Combat Air System). Novo Nordisk: Buy after the crash? While the outlook for AJN and RENK is positive, Novo Nordisk shocked the markets yesterday with a revenue and profit warning. The Danish pharmaceutical company lowered its forecasts. The expected revenue growth for 2025 was revised down from 13%-21% to 8%-14%. EBIT growth was scaled back from 16%-24% to 10%-16%. These reductions are mainly due to disappointing growth indicators for the blockbuster products Ozempic and Wegovy in the crucial US market. Increasing competition and ramp-up issues are weighing on the Company. Investors reacted with panic. In an initial reaction, the share price fell by well over 20%. As a result, Novo Nordisk's share price has lost around 45% in the current year. Since its all-time high in June 2024 at around EUR 130, the decline has even exceeded 60%. The share price is now below its pre-Ozempic hype level. A takeover is unlikely at RENK at the moment. Nevertheless, developments in the European defense industry are exciting. The supercycle has only just begun and is likely to hold a few surprises. Shares of AJN Resources could surprise on the upside in the coming months. At any rate, a steady flow of news is expected. Positive news is still anticipated from Novo Nordisk for the time being. However, the price decline seems somewhat exaggerated. The stock should be worth buying in the medium to long term. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a 'Transaction'). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company. In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships. For this reason, there is a concrete conflict of interest. The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies. Risk notice Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such. The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user. The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
