XS Financial Provides a $1 Million Equipment Lease Facility To a Multi-State Operator

Rhea-AI Summary

XS Financial (CSE:XSF, OTCQB:XSHLF) has entered a lease agreement providing a $1 million equipment lease facility to a leading multi-state operator in the U.S. cannabis sector. The lease comes with terms of up to 60 months and aims to support the operator's expansion of processing facilities across multiple states. CEO David Kivitz expressed enthusiasm about this partnership, highlighting the operator's significant growth and position in limited license markets. XS Financial specializes in offering non-dilutive CAPEX financing solutions for the cannabis industry.

Positive

• Entered a $1 million lease agreement with a multi-state operator.
• Lease terms extend up to 60 months, providing financial support for expansion.
• Supports an expanding market position for the operator.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / March 8, 2022 / XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF) (OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced today that it has entered into a lease agreement with a leading multi-state operator with locations in multiple states. All amounts are in U.S. dollars.

The operator has been approved for an equipment lease facility of $1M for new equipment with up to 60-month terms. This equipment acquisition will help further expand their processing facilities in multiple markets in which they are currently operating.

David Kivitz, CEO of XS Financial commented: "We are excited to support our new customer with their CAPEX financing needs as they expand their market position as a leading multi-state operator. Over the past few years, they have grown significantly and are well-positioned in several limited license markets."

About XS Financial

XS Financial provides the U.S. cannabis industry access to competitively-priced, non-dilutive CAPEX financing solutions. Founded in 2017, the Company specializes in providing financing for equipment and other qualified capital expenditures to growing cannabis companies, including cultivators, processors, manufacturers and testing laboratories. In addition, XSF has partnered with over 150 original equipment manufacturers (OEM) through its network of Preferred Vendor partnerships. This powerful dynamic provides an end-to-end solution for customers, resulting in recurring revenues, strong profit margins, and a proven business model for XSF stakeholders. The Company's subordinate voting shares are traded on the Canadian Securities Exchange under the symbol "XSF" and in the United States on the OTCQB under the symbol " XSHLF." For more information, visit: www.xsfinancial.com.

For inquiries please contact:

David Kivitz
Chief Executive Officer

Antony Radbod
Chief Operating Officer
Tel: 1-310-683-2336
Email: ir@xsfinancial.com

Forward-Looking Information

This press release contains "forward-looking information" and may also contain statements that may constitute "forward-looking statements", collectively "forward-looking information", within the meaning of applicable Canadian securities legislation. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent the beliefs and expectations regarding future events about the business and the industry and markets in which XS Financial operates, as well as plans or objectives of management, many of which, by their nature, are inherently uncertain. Generally, such forward-looking information can be identified by the use of terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information contained herein may include but is not limited to, any additional leasing opportunities and the ability to capitalize on such and the timing thereof. Forward-looking information is not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. XS Financial Inc., does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: XS Financial

View source version on accesswire.com:
https://www.accesswire.com/692024/XS-Financial-Provides-a-1-Million-Equipment-Lease-Facility-To-a-Multi-State-Operator

FAQ

What is the significance of XS Financial's $1 million lease agreement?

XS Financial's $1 million lease agreement supports a multi-state operator's expansion in the U.S. cannabis market.

What are the terms of the lease agreement XS Financial entered into?

The lease agreement has a total value of $1 million and offers terms of up to 60 months.

How does XS Financial support the cannabis industry?

XS Financial provides non-dilutive CAPEX financing solutions, enabling cannabis companies to grow without sacrificing equity.

What is the stock symbol for XS Financial?

XS Financial trades on the OTCQB under the symbol XSHLF.

When was the lease agreement announced by XS Financial?

The lease agreement was announced on March 8, 2022.