Safe Harbor Financial Originates Three New Loans to Tier One Multi-State Operator
July 27 2023 - 8:00AM
SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe
Harbor” or the “Company”) (NASDAQ: SHFS), a leader in
facilitating banking, payments, and financial services to the
regulated cannabis industry, announced today that the Company
has increased its lending and deposit relationship with a tier one
multi-state operator (“MSO”) by originating three new loans for
affiliates of the MSO in the aggregate amount of $4,282,000. The
loans were secured by retail assets in three additional
limited-license markets in which the MSO operates.
“Our ongoing relationship with this
top-performing multi-state operator demonstrates the steady credit
origination and placement activity were are continuing to secure
for companies operating in the legal cannabis industry,” Sundie
Seefried, Chief Executive Officer at Safe Harbor Financial
commented. “These new loans further diversify our collateral
portfolio, and afford us the opportunity to open deposit accounts
for the MSO’s operating entities in three new markets.”
The Company had previously announced in May that
it had originated four commercial real estate-backed loans for
subsidiaries of the tier-one MSO. The approximate amount for the
loans was approximately $5.5 million aggregate and are secured by a
first deed of trust on four retail dispensary locations in a key
limited-license state. The Company also announced an expanded
relationship with the tier-one MSO in June through the origination
of an additional first lien-secured loan in the approximate amount
of $2.9 million on a cultivation facility located in a major
adult-use cannabis market. The current loans are in accordance with
the same lending commitment as previous loans provided to the MSO,
offering the same market-leading terms–including a fixed interest
rate, five-year term and a 25-year amortization period–for
permanent financing of the MSO’s critical assets.
About Safe Harbor
Safe Harbor is among the first service providers
to offer compliance, monitoring and validation services to
financial institutions, providing traditional banking services to
cannabis, hemp, CBD, and ancillary operators, making communities
safer, driving growth in local economies, and fostering long-term
partnerships. Currently managing approximately 1000
cannabis-related relationships, Safe Harbor, through its financial
institution clients, implements high standards of accountability,
transparency, monitoring, reporting and risk mitigation measures
while meeting Bank Secrecy Act obligations in line with FinCEN
guidance on cannabis-related businesses. Over the past eight years,
Safe Harbor has facilitated more than $18 billion in deposit
transactions for businesses with operations spanning over 40 states
and US territories with regulated cannabis markets. For more
information, visit www.shfinancial.org.
Forward-Looking Statements
Certain statements contained in this press
release constitute "forward-looking statements'' within the meaning
of federal securities laws. Forward-looking statements may include,
but are not limited to, statements with respect to trends in the
cannabis industry, including proposed changes in U.S and state
laws, rules, regulations and guidance relating to Safe Harbor's
services; Safe Harbor's growth prospects and Safe Harbor's market
size; Safe Harbor's projected financial and operational
performance, including relative to its competitors; performance of
the loans referenced in this release or otherwise; product and
service offerings Safe Harbor may introduce in the future; Safe
Harbor’s ability to maintain financial institution contractual
relationships; the impact of recent volatility in the capital
markets, which may adversely affect the price of the Company's
securities; the outcome of any legal proceedings that may be
instituted against Safe Harbor; other statements regarding Safe
Harbor's expectations, hopes, beliefs, intentions or strategies
regarding the future; and the other risk factors discussed in Safe
Harbor's filings from time to time with the Securities and Exchange
Commission. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking statements. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intends," "outlook,"
"may," "might," "plan," "possible," "potential," "predict,"
"project," "should," "would," and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject, are subject to risks and
uncertainties. These forward-looking statements involve a number of
risks and uncertainties (some of which are beyond the control of
Safe Harbor), and other assumptions, that may cause the actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
Contact Information
Safe Harbor MediaNick Callaio,
Marketing Manager720.951.0619Nick@SHFinancial.org |
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Safe Harbor Investor
Relationsir@SHFinancial.org |
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KCSA Strategic CommunicationsPhil
Carlsonsafeharbor@kcsa.com |
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