Partnership to provide CAPEX financing solutions for urban-gro clients purchasing indoor Controlled Environment Agriculture (CEA) equipment solutions
Lafayette, Colo., Oct. 05, 2021 (GLOBE NEWSWIRE) — urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro”), a fully integrated architectural, engineering and cultivation systems integration company focused on the indoor Controlled Environment Agriculture (“CEA”) market, and XS Financial (CSE:XSF) (OTCQB: XSHLF) (“XSF”), a specialty finance company providing CAPEX financing solutions including equipment leasing to cannabis companies in the United States, have entered into a strategic agreement allowing for XS Financial to provide urban-gro clients with CAPEX leasing solutions and XSF customers with access to urban-gro’s vendors and enhanced purchasing power.
“In response to our client’s request to provide financing solutions, I am excited to launch our new Financial Services division, and our strategic alliance with XS Financial further strengthens our purchasing power with leading horticulture manufacturers, and allows us to continue to exceed client’s expectations,” says Bradley Nattrass, Chairman and CEO of urban-gro, Inc. “In addition to strengthening the value of the solution that we provide our clients, we believe XS Financials’ competitively priced access to capital for operators will broaden our reach within the cannabis and food-focused indoor CEA market and further assist in minimizing and eliminating supply chain delays.”
XS Financial and urban-gro, Inc. are developing strong track records of working with many of the industry’s largest multi-state (“MSO”) and single-state (“SSO”) operators. The two companies have already demonstrated shared success by the financing of equipment purchasing for a shared MSO customer.
“This agreement with urban-gro will allow XS Financial to further expand our reach and ability to offer financing solutions to qualified customers within indoor cannabis CEA,” said David Kivitz, CEO, XS Financial. “New and existing XS customers will benefit greatly from urban-gro’s strong purchasing power, diversified service offerings backed by deep domain experience and credibility in our industry.”
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq: UGRO) is a fully integrated architectural, engineering and cultivation systems integration company for commercial cannabis and food-focused indoor Controlled Environment Agriculture (“CEA”) facilities. With experience in hundreds of CEA facilities spanning millions of square feet across the globe, we design, engineer and integrate complex environmental equipment systems into high-performance facilities. urban-gro’s gro-care® Managed Services Platform leverages the company’s expertise to reduce downtime, provide continuity, and drive facility optimization. Operating as a crop-agnostic solutions provider in both food and cannabis CEA sectors, our crop-focused end-to-end approach provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to discover how we help cultivators gro plants and gro profits.
About XS Financial
XS Financial provides the U.S. cannabis industry access to competitively-priced, non-dilutive CAPEX financing solutions. Founded in 2017, XS Financial 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 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. XS Financial’s subordinate voting shares are traded on the Canadian Securities Exchange and the symbol “XSF” and in the United States on the OTCQB und the symbol “XSHLF.” For more information, visit www.xsfinancial.com
To inquire about equipment system financing solutions for your commercial cultivation facility, reach out to urban-gro Financial Services via email (email@example.com)
|urban-gro Investor Relations Contact:||XSF Investor Relations Contact|
|Dan Droller||David Kivitz|
|EVP Corporate Development and IR||Chief Executive Officer|
|Media Contact:||XSF Investor Relations Contact|
|Stan Wagner||Antony Radbod|
|Managing Director||Chief Operating Officer|
|Maverick Public Relations||310-683-2336|
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