XS Financial Inc. XSHLF, XSF has provided a $15 million lease facility to Ascend Wellness Holdings, Inc. AAWH
AWH has been approved for a $15 million CAPEX lease facility to purchase new equipment with up to 60-month terms. This facility will be used for cultivation, manufacturing and processing equipment across Massachusetts, Illinois, and New Jersey.
David Kivitz, CEO of XS Financial stated: “We are excited to be working with Ascend Wellness, one of the leading multi-state operators in the cannabis industry. Ascend operates with a significant footprint in numerous attractive growth markets, with meaningful CAPEX and equipment needs, and we are excited to support their growth through this initial, competitively priced lease facility. This transaction exemplifies our strategic focus to collaborate with premier cannabis operators to support their growth, resulting in larger leasing agreements and the potential for repeat business. We believe this is just the start of a long term, mutually beneficial relationship with Ascend.”
About Ascend Wellness Holdings
AWH is a vertically integrated multistate cannabis operator with licenses and assets in Illinois, Michigan, Ohio, Massachusetts, New Jersey, and Pennsylvania. AWH owns and operates cultivation facilities, producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Simply Herb, Ozone, and Ozone Reserve branded products.
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.
Image and article originally from www.benzinga.com. Read the original article here.