LOS ANGELES, CA / ACCESSWIRE / March 10, 2021 / XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing scalable equipment leasing solutions to cannabis companies in the United States, is pleased to announce that it has entered into a lease agreement with Maggie's Farm LLC ("Maggie's"), a vertically-integrated, single state operator ("SSO") based in Colorado. Maggie's was founded in 2010 and has been operating in the legal Colorado market, serving both recreational and medical customers. Maggie's is the first Colorado cannabis operator to receive Clean Green® Certification and operates seven dispensaries across the state. All amounts are in U.S. dollars.
Maggie's Farm has been approved for an equipment lease of $344,150 for new equipment on 48-month terms. This equipment acquisition will help further automate Maggie's manufacturing and processing facilities in Colorado. XSF worked with its Preferred Vendor, ActionPac Automation, to provide point of sale purchasing for Maggie's Farms.
David Kivitz, CEO of XS Financial commented: "We are excited to work with a tenured business, like Maggie's Farm. Maggie's has grown consistently over the past eight years in the mature Colorado market, and this lease will allow them to further automate their business and serve their customer base in their well-located retail stores across Southern Colorado. We look forward to supporting Maggie's through this lease and future opportunities."
Tim Sell, Chief Financial Officer of Maggie's Farm added: "In the restricted world of cannabis financing, XS Financial provides a financing solution that will enable us to accelerate our plans to achieve greater operational efficiency. We look forward to an ongoing partnership with XS as we scale our business."
About Maggie's Farm
Maggie's Farm is Colorado's premiere farm-to-bowl source of recreational and medical marijuana. All of Maggie's products are grown in the fresh mountain air, nourished by sunlight, organic soil, and mineral-rich spring water before being slow-cured to unlock the strongest flavor, potency, and quality of every last bud. Maggie's Farm has seven recreational and medical dispensaries conveniently located in Southern Colorado. With a wide selection of award-winning Clean Green Certified® flower, pre-rolls, concentrates, THC-infused edibles, and topicals, Maggie's caters to the cannabis connoisseur and the curious alike.
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:
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David Kivitz |
Antony Radbod |
| Tel: 1-310-683-2336 | |
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Email: ir@xsfinancial.com |
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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
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