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XS Financial Inc. (XSHLF) is a specialty finance company that offers CAPEX and equipment financing solutions to cannabis businesses in the US. Established in 2017, XS Financial has reported record annual revenue of $11.7M and net distributable earnings of $0.4M in 2023. Led by CEO David Kivitz, the company focuses on expanding its customer base, improving operational efficiencies, and optimizing its balance sheet. With over 250 OEM partnerships, XS Financial provides end-to-end financing solutions to its clients, resulting in recurring revenues and strong profit margins.
XS Financial announced the issuance of 148,660 options at an exercise price of $0.30 CAD and 458,279 subordinate voting shares at $0.224 CAD to settle debt. The options, part of the Omnibus Securities Compensation Plan, have a term of five years. The shares are subject to a statutory hold period until October 12, 2021. XS Financial specializes in providing equipment leasing solutions to cannabis businesses in the U.S., partnering with over 150 original equipment manufacturers, which supports recurring revenues and strong profit margins.
XS Financial reported a strong Q1 2021 with revenues reaching $0.4 million, a 108% increase from Q1 2020. The net loss improved to $0.4 million, down from $2.6 million year-over-year. Working capital surged to a surplus of $6.7 million, an increase of $8.8 million from Q4 2020. The company also raised $10.7 million in new capital and achieved lease originations totaling $3.3 million. Improvements in financial metrics and increased lease activity position XS Financial favorably for future growth.
XS Financial (CSE:XSF, OTCQB:XSHLF) will participate in Canaccord Genuity's 5th Annual Global Cannabis Conference on May 11, 2021. CEO David Kivitz is set to present from 3:30-3:55 PM EDT, discussing the company's equipment leasing solutions for the cannabis industry in the U.S. He will also hold one-on-one meetings with investors. Established in 2017, XS Financial targets CAPEX financing for cannabis cultivators, manufacturers, and testing labs, partnering with over 150 OEMs to enhance their service offerings.
XS Financial Inc. has announced an upsized financing facility of $20 million for Columbia Care, aimed at supporting its expansion in new markets such as Arizona, West Virginia, and Missouri. This follows Columbia Care fully drawing on its initial facility announced in December 2020. The financing will facilitate CAPEX and equipment purchases, enhancing Columbia Care's operational capabilities as it grows across 114 facilities nationwide. XS Financial positions itself as a preferred financing partner in the U.S. cannabis industry.
XS Financial reported strong growth in Q4 2020, highlighting a transformational year with new customer acquisitions and expanding lease agreements. The company secured $5.5 million in equipment value through nine new leases, achieving a 163.8% increase in financing income to $310.7 thousand. Notably, net loss decreased by 61.2% to $726.7 thousand. Post-quarter, XS Financial added another customer with 11 leasing agreements valued at $4.0 million. Financial flexibility improved with a $2 million credit facility and a $10.7 million private placement.
XS Financial Inc. (XSHLF) has advanced approximately $936,000 to Ayr Wellness (AYRWF) for equipment used in Massachusetts, marking Ayr's 11th drawdown from an approved $5 million equipment lease facility initiated in November 2020. Total funding to Ayr now stands at $3 million. Both companies emphasize the strategic partnership, with XS Financial offering scalable financing solutions and Ayr focusing on high-quality cannabis production. The collaboration supports Ayr's expansion into new markets.
XS Financial (CSE:XSF)(OTCQB:XSHLF) has appointed Nelson Lamb as its new Chief Financial Officer, succeeding Joe Fazzini. Lamb brings over 15 years of financial leadership experience, having previously held CFO roles in several publicly traded companies. His extensive knowledge of IFRS and US GAAP will aid XS Financial in executing its business plan effectively, especially post-recent financing, which positions the company well for growth. XS Financial specializes in offering non-dilutive capital financing solutions to the U.S. cannabis industry, with a proven business model and strong profit margins.
XS Financial (CSE:XSF, OTCQB:XSHLF), a specialty finance company for cannabis equipment leasing, will participate in the Lytham Partners Spring Conference from March 30 to April 1, 2021, and Roth Capital Partners Virtual Golden Cannabis Day on April 7, 2021. The Lytham event aims to connect companies with institutional investors in a 1-on-1 format, while Roth's event will feature small group meetings focused on cannabis brands. XS Financial, founded in 2017, offers leasing solutions and consulting services to the cannabis industry.
XS Financial has secured a lease agreement with Maggie's Farm, a leading cannabis operator in Colorado, worth $344,150 for new equipment over 48 months. This partnership aims to enhance Maggie's operational efficiency and automation within its processing facilities. The lease will support Maggie's strategy to streamline operations across its seven dispensaries. CEO David Kivitz expressed enthusiasm about the collaboration, emphasizing the growth potential it brings in the competitive cannabis market.
XS Financial has launched a new syndication platform, securing $1 million in funds for non-dilutive financing aimed at expanding capital deployment in the cannabis sector. This first syndication was completed with Kadens Family Holdings, LLC, led by former Green Thumb Industries CEO Pete Kadens. The initiative will enhance XS Financial's capacity to fund capital expenditures and strengthen its lease portfolio. The company continues to provide financing solutions to U.S. cannabis companies since its establishment in 2017, leveraging partnerships with over 150 original equipment manufacturers.
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