LOS ANGELES, CA / ACCESSWIRE / December 3, 2020 / XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing scalable equipment leasing solutions to cannabis and hemp companies in the United States, announced today that it has entered into a lease agreement with Columbia Care (NEO:CCHW ) (OTCQX:CCHWF), one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products. Columbia Care currently operates 100 facilities including 76 dispensaries and 24 cultivation and manufacturing facilities. All amounts are in U.S. dollars.
Columbia Care has been approved for an equipment lease facility of up to $5.0 million for new equipment, to be deployed in multiple tranches on a pro-rata basis and based on 36 and 48-month terms. Columbia Care has already begun to draw down on the lease facility.
David Kivitz, CEO of XS Financial commented: "We are pleased to be working with an industry leading group like Columbia Care and commend their entire team for the professionalism they exhibited through this transaction. Columbia Care is operating in numerous growth markets with significant equipment needs and we are excited to support their growth through this initial, competitively priced facility."
Joshua Snyder VP, Business Development of Columbia Care added: "We are excited to partner with XS Financial for an equipment lease. Their consistent access to nondilutive capital provides Columbia Care the ability to continue to invest in our growth initiatives in strategic markets."
About XS Financial
Founded in 2017, XSF specializes in providing equipment leasing solutions in the United States to owner/operators of cannabis and hemp companies, including cultivators, oil processors, manufacturers and testing laboratories. In addition, XSF provides a full range of consulting services including equipment selection and procurement, through its network of preferred vendor partnerships with original equipment manufacturers and equipment distributors. This powerful dynamic provides an end-to-end solution for customers which results in recurring revenues, strong profit margins, and a proven business model for XSF stakeholders. The Company's common 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.
Visit www.xsfinancial.com for more information or contact XS Financial at:
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/619242/XS-Financial-Provides-5-Million-Equipment-Lease-Facility-to-Columbia-Care
