ACCESS Newswire

XS Financial

21.7.2021 14:02:25 CEST | ACCESS Newswire | Press release

Share
XS Financial Upsizes Lease Facility with Ayr Wellness up to $21.4 Million with an Immediate Drawdown of $7.4 Million

LOS ANGELES, CA / ACCESSWIRE / July 21, 2021 / XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF) (OTCQB:XSHLF), a specialty finance company providing equipment leasing solutions to cannabis companies in the United States, announced today that the Company has upsized Ayr Wellness ("Ayr) (CSE: AYR.A) (OTCQX: AYRWF) equipment lease facility from $5.3 million, as previously announced on November 2, 2020, to $21.4 million. All amounts are in U.S. dollars.

Ayr Wellness has fully utilized the original lease facility and, with its recent drawdown, has received a total of $11.8 million across 21 lease schedules.

Brad Asher, CFO of Ayr Wellness, commented: "The XS team has done an outstanding job simplifying the process to acquire state-of-the-art equipment across our markets, allowing us to continue to achieve our mission of being the largest producer of high-quality cannabis at scale. The on-demand, non-dilutive financing that we can draw on as needed with no commitments or fees with unused availability provides our company with tremendous flexibility as we continue to scale to meet consumer demand for our offerings."

Antony Radbod, COO of XS Financial, commented: "We are pleased to support Ayr Wellness with their nationwide expansion and are thrilled to upsize our financing commitment. Following our initial lease, this upsized facility is a natural next step in a long-term relationship with Ayr Wellness and we look forward to supporting their growing needs as they advance their market-leading business in high-growth markets.

About Ayr Wellness

Ayr is an expanding vertically integrated, U.S. multi-state cannabis operator focused on delivering the highest quality cannabis products and customer experience throughout its footprint. Based on the belief that everything starts with the quality of the plant, the Company is focused on superior cultivation to grow superior branded cannabis products. Ayr strives to enrich consumers' experience every day through the wellness and wonder of cannabis.

Ayr's leadership team brings proven expertise in growing successful businesses through disciplined operational and financial management, and is committed to driving positive impact for customers, employees and the communities they touch. For more information, please visit www.ayrwellness.com.

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/656381/XS-Financial-Upsizes-Lease-Facility-with-Ayr-Wellness-up-to-214-Million-with-an-Immediate-Drawdown-of-74-Million

To view this piece of content from www.accesswire.com, please give your consent at the top of this page.

About ACCESS Newswire

DK

Subscribe to releases from ACCESS Newswire

Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ACCESS Newswire

Caldwell Strengthens Human Resources Practice with Addition of Ali Palmer as Partner17.9.2026 14:50:00 CEST | Press release

TORONTO, ON AND LONDON, UK / ACCESS Newswire / September 17, 2026 / Retained executive search firm Caldwell (TSX:CWL)(OTCQX:CWLPF) today announced the addition of Ali Palmer as a Partner in the firm's Human Resources Practice. Based in London, Palmer advises boards, chief executive officers and chief people officers on the recruitment of senior human resources leaders, helping organizations build leadership teams that enable growth, transformation and long-term performance. Ali Palmer, Partner in Caldwell's Human Resources Practice. With more than 20 years of executive search and leadership advisory experience, Palmer partners with listed companies, private equity-backed businesses and privately held organizations across a broad range of sectors, with particular expertise in consumer, retail, industrial, financial services, pharmaceutical and technology. She leads executive search assignments across the full human resources function, from chief people officers and chief human resources

Freedom Holding Corp. Backs the FIDE World Championship Match 2026 as General Partner17.9.2026 14:00:00 CEST | Press release

NEW YORK CITY, NY / ACCESS Newswire / September 17, 2026 / Freedom Holding Corp. (NASDAQ:FRHC) is the General Partner of the Salesforce FIDE World Championship Match 2026, the International Chess Federation (FIDE) and Freedom announced today. General Partner is the highest partnership tier of the World Championship. The Match runs from 22 November to 12 December. The Opening Ceremony takes place on 22 November at the Palais des Nations in Geneva. World Champion Gukesh Dommaraju of India defends his title against Javokhir Sindarov of Uzbekistan over 14 classical games. Both players will be twenty at the start of the Match, the youngest title contest since the series began in 1886. Freedom has been a strategic partner of FIDE since 2023. The group is a regular sponsor of the FIDE World Rapid and Blitz Championships and was the title sponsor of the 2024 FIDE World Corporate Chess Championship in New York. Under a 2026 cooperation agreement, Freedom also funds FIDE tournaments, training ce

Bayer to Present How it Rebuilt Global Planning with OMP at Gartner Supply Chain Planning Summit 202617.9.2026 13:52:00 CEST | Press release

ANTWERPEN, BE / ACCESS Newswire / September 17, 2026 / OMP, a leading provider of supply chain planning solutions, invites attendees of the Gartner Supply Chain Planning Summit 2026 in London to its joint session with multinational Bayer. Representatives of the Pharmaceutical division and the global IT department will show what it took to rebuild global planning around faster, higher-quality decisions, how Unison Planning™ supports that at scale, and where AI fits in. Rebuilding planning at Bayer's scale Bayer treated its move to Unison Planning™ as more than a system replacement, rebuilding processes, master data, and ways of working across its global manufacturing and affiliate network. During their Gartner session, Mirja Meyer, Principal Product Manager and Program Lead IT at Bayer, and Karsten Hahm, Program Lead OMP Implementation at Bayer Pharmaceuticals, will cover:What adoption actually tookWhat changed in decision speed and qualityWhere AI fits on the roadmap ahead Sign up for

U.S. Polo Assn. Celebrates New Partnership with the Historic Greenwich Polo Club at the 2026 East Coast Open Presented by Audi17.9.2026 13:00:00 CEST | Press release

WEST PALM BEACH, FL / ACCESS Newswire / September 17, 2026 / U.S. Polo Assn.®, the official sports brand of the United States Polo Association (USPA), celebrated the conclusion of the 2026 East Coast Open Presented by Audi, held August 30 through September 13 at the renowned Greenwich Polo Club in Greenwich, Connecticut, a celebrated polo destination just outside New York City. As the only high-goal tournament on the East Coast during the summer season, the historic championship once again brought together elite international competition for the sport of polo. 2026 East Coast Open Presented by Audi Winners, IGEA, celebrating with tournament trophy. Photo Credit: Greenwich Polo Club The 2026 season also marked a significant milestone as U.S. Polo Assn. served as the Official Apparel Brand Sponsor of Greenwich Polo Club for the first time. The new partnership connected one of the world's most recognized sports brands with one of polo's most iconic venues, further strengthening the brand'

GA-ASI Mojave First UAS To Complete Battlefield Short Field Ops16.9.2026 19:30:00 CEST | Press release

Short Takeoff and Landing Aircraft Validates Austere Field Capabilities SAN DIEGO, CA / ACCESS Newswire / September 16, 2026 / General Atomics Aeronautical Systems (GA-ASI) and Hanwha Aerospace have completed the first-ever flight operations from a simulated battlefield by a medium altitude, long endurance uncrewed aircraft. The partners proved that the Mojave Short Takeoff and Landing aircraft, or Mojave STOL, could land at a tank and artillery live-fire range during simulated combat conditions and then take off again to continue the mission. "This demonstration showcased Mojave's ability to perform tactical missions that are representative of real battlefield requirements and challenges," said GA-ASI CEO Linden Blue. "Whether the user needs contested and austere battlefield operations, ISR, weapons delivery, Air-Launched Effects deployment, troop resupply, counter-UAS, or missions requiring short and unimproved roads for takeoff, our aircraft answer the bell." "This demonstration mar

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye