Curaleaf receives approval for a $50 million capex lease facility
Curaleaf Holdings currently operates in 21 states with 145 dispensaries and 29 cultivation sites.
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 new lease agreement with Curaleaf Holdings Inc (“Curaleaf”), which currently operates in 21 states with 145 dispensaries and 29 cultivation sites. All amounts are in U.S. dollars.
Curaleaf has been approved for a $50M CAPEX lease facility, with an immediate drawdown of ~$10M to purchase equipment with up to 60-month terms.
Antony Radbod, COO of XS Financial commented: “XS Financial continues to deliver equipment finance facilities of significant scale to its clients across the cannabis industry. We are pleased to provide competitive CAPEX financing solutions to Curaleaf, one of our industry’s largest operators, as they continue their expansion across 21 states.”
About Curaleaf Holdings
Curaleaf Holdings, Inc. (“Curaleaf”) is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, and Grassroots provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 21 states with 145 dispensaries, 29 cultivation sites, and employs nearly 6,000 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. For more information, please visit https://ir.curaleaf.com.
About XS Financial
Founded in 2017, XS Financial specializes in providing CAPEX financing solutions to cannabis companies in the United States, including cultivators, processors, manufacturers, and testing laboratories. In addition, XSF has partnered with over 250 original equipment manufacturers (OEM) through its network of Preferred Vendor partnerships. 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 subordinate voting shares are traded on the Canadian Securities Exchange under the symbol “XSF”. For more information, visit: www.xsfinancial.com.
Source: XS Financial
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