XS Financial Inc. (OTCQB:XSHLF) (CSE:XSF)a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, has entered into a new lease with PharmaCann Inc, for $7.6 million.
PharmaCann continues to deploy resources from its pre-existing $30 million facility, announced on December 11, 2022, leveraging available capital to further drive growth within its business.
Patrick Unzicker, CFO of PharmaCann stated: "We highly value our long-term relationship with XS Financial as a financing partner for our strategic capital needs. This transaction provides funding to support PharmaCann growth plans in our eight state foot print."
Antony Radbod, COO of XS Financial stated: “We are thrilled to announce the successful closing of a new lease transaction with our esteemed, long-standing client, Pharmacann. This latest round of financing is a testament to XS Financials' commitment to the cannabis industry and reaffirms our steadfast dedication to the broader market. Amid the current capital-constrained climate, this transaction underscores our unwavering commitment to supporting top-tier operators in the cannabis industry."
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