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

Formerra to Supply Foster Medical Compounds in Europe29.1.2026 15:00:00 CET | Press release

Expanded agreement infuses Formerra's European healthcare polymer portfolio with life-saving Foster® compounds. PUTNAM, CT AND ROMEOVILLE, IL / ACCESS Newswire / January 29, 2026 / Formerra and GEON® Performance Solutions today announced an agreement that designates Formerra as the preferred distributor of Foster®, LLC medical compounds in Europe. This adds to Formerra's current distribution of these materials in North and South America, enabling Formerra to now support customers who need the same product in all regions. Following GEON's January 2025 acquisition of Foster, the agreement builds on Formerra's long-standing, global partnership with GEON for flexible and rigid PVC and filled polypropylene materials. "Bringing Foster's medical-grade portfolio to Europe strengthens our ability to support healthcare manufacturers across the region with specialized compounds and the local expertise they need to navigate complex regulatory environments," said Kelly Wessner, Vice President, Key

Innodata Selected by Palantir to Accelerate Advanced Initiatives in AI-Powered Rodeo Modernization29.1.2026 14:30:00 CET | Press release

Innodata's data engineering and annotation capabilities support Palantir's expanding AI platform deployments for event analytics NEW YORK, NY / ACCESS Newswire / January 29, 2026 / INNODATA INC. (Nasdaq:INOD) today announced that it has been selected to provide high-quality training data and data engineering services to Palantir Technologies (Nasdaq:PLTR), supporting Palantir's AI-enabled platforms for rodeo event analysis. In support of Palantir's partnership with rodeo operations, Innodata is now further empowering these customers by providing them with specialized annotation and data engineering for thousands of hours of rodeo video footage. This work enables computer vision models to detect animals, riders, and skeleton joints, allowing for the automated calculation and display of performance metrics in bull riding, bronc riding, bareback riding and barrel racing. Innodata will be providing specialized annotation, multimodal data engineering, and generative-AI workflow support for

Sadie Launches Cloudbeds Integration to Automate Guest Calls and Reservation Management with Voice AI28.1.2026 17:25:00 CET | Press release

MONTRÉAL, QUEBEC / ACCESS Newswire / January 28, 2026 / Sadie, the voice AI agent for the hospitality industry, today announced a new integration with Cloudbeds, the hospitality industry's leading unified platform, enabling hotels to automate guest calls while increasing direct bookings and freeing staff to focus on on-property service. Through the integration, Cloudbeds-powered hotels can deploy Sadie as an intelligent voice agent that answers calls instantly, shares real-time rates and availability, and creates and manages reservations directly within the Cloudbeds platform. Designed as an always-on extension of the front desk, Sadie ensures guest calls are answered instantly, day or night. From sharing real-time rates and availability to creating and modifying reservations, handling service requests, and assisting with overnight room lockouts, Sadie delivers immediate, multilingual support for both guests and hotel teams. By handling high-volume and after-hours calls, Sadie reduces

Power to Hydrogen Appoints David Bow as Chief Strategy Officer to Scale International Expansion28.1.2026 15:00:00 CET | Press release

Industry Veteran Brings 25+ Years Of Senior Leadership In Hydrogen And Industrial Decarbonization COLUMBUS, OH / ACCESS Newswire / January 28, 2026 / Power to Hydrogen (P2H2), a developer of industrial-scale anion exchange membrane (AEM) electrolyzers designed for low-cost green hydrogen production, today announced that industry veteran David Bow has joined the company as Chief Strategy Officer. Bow will lead P2H2's corporate and commercial strategy as the company expands its industrial deployments and scales its go-to-market efforts in North America and Europe. His scope includes strategic partnerships, market entry and segmentation, commercial growth priorities, and alignment of product roadmap and validation plans with customer and financing requirements. Bow brings more than 25 years of senior leadership experience across hydrogen and industrial energy, including executive roles spanning commercialization, strategy, and scaling. He previously led Plug Power's Electrolyzer Solutions

GoodData Brings Faster BI Modernization to Make Analytics AI-Ready28.1.2026 15:00:00 CET | Press release

Modernize legacy BI without disruption. Refactor business logic into a governed semantic layer while keeping dashboards online. SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / January 28, 2026 / GoodData, the AI-powered analytics and decision intelligence platform, today introduced AI-driven BI modernization, a new approach that helps organizations move off legacy BI faster while preserving critical reporting workflows. Early outcomes teams can expect AI-driven BI modernization separates business logic from dashboards and standardizes it in a governed semantic layer. This improves performance today and creates a stronger baseline for AI-driven use cases tomorrow. Expected results include: 2-5× faster iteration cycles for delivering new analytics Dashboards that load up to 10× faster by removing inefficient calculations and duplication Consistent, reusable metrics governed centrally and applied across teams and tools AI-ready analytics with clean, standardized logic that AI agents and aut

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