Articles from Safe Harbor Financial Services, Inc.

Strategic partnership connects cannabis operators to compliant financial and workforce solutions, addressing one of the industry’s most persistent challenges

— Adjusted EBITDA(1) is positive for each of the last 3 years; Adjusted Working Capital(2) is approximately positive $2 million

Industry Expert Brings Extensive Experience in Investment Analysis and Product Innovation to Drive Growth Initiatives and Advance Cannabis Sector Solutions

Highlights Successful Debt Modification Agreement with PCCU and Upcoming Special Shareholder Meeting on Thursday, March 13 at 4:30 p.m. ET

Agreement Unlocks Over $6 Million in Cash Flow and Extends Due Date to October 2030

Second Tranche of a $5 Million Loan Funding Package to Refinance High-Interest Senior Debt

PCCU Modifies Credit Facility with Safe Harbor by Pausing Principal Payments for Two Months as New Terms are Considered; Safe Harbor Intends to Commence Making Growth Investments Immediately

Sundie Seefried to Immediately Become Co-CEO and Retire in 30 Days; Will Remain on Board of Directors Post-Transition

Milestone Underscores the Company’s Leadership in Providing Reliable Financial Services, Credit Facilities and Innovative Solutions for the Regulated Cannabis Industry

Loan Indemnification between Companies Eliminated; Change Expected to Strengthen Safe Harbor’s Balance Sheet

Innovative Loan Partnership Drives Energy Savings and Sustainable Operations in Colorado’s Cannabis Sector

--Net Income increased to $0.4 million in the third quarter of 2024

Company to host conference call after the market closes at 4:30p.m. ET on Tuesday, November 12th

Credit Facility Represents First Tranche of $5 Million Commitment to Refinance Existing Senior Debt

GOLDEN, Colo., Oct. 01, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced today that its management team will participate in the Benzinga Cannabis Capital Conference being held October 8-9, 2024, in Chicago.

GOLDEN, Colo., Sept. 04, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced extensions to the contracts of three key executives and a restructuring of their compensation packages.

--Net Income increased to $0.9 million in the second quarter of 2024

Company to host conference call after the market closes at 4:30 p.m. ET on Wednesday, August 14th

GOLDEN, Colo., July 25, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) ( NASDAQ: SHFS), a leader in providing banking, payments, and financial services to the regulated cannabis industry, announced a new partnership with BIPOCann, a Denver-based consulting firm dedicated to aiding social equity and minority entrepreneurs in the cannabis sector.

GOLDEN, Colo., July 16, 2024 (GLOBE NEWSWIRE) -- 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 that it has submitted comments to the Justice Department, following its recent proposed rule to reclassify cannabis from Schedule I to Schedule III of the Controlled Substances Act (“CSA”), consistent with the view of the Department of Health and Human Services (“HHS”) that cannabis has a currently accepted medical use as well as HHS’s views about marijuana’s abuse potential and level of physical or psychological dependence.

$3.3 Million Reallocated to Lending and Credit Line Capacity

GOLDEN, Colo., June 20, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced today that management will participate in the 2024 Maxim Fintech Virtual Symposium being held on Tuesday, June 25th at 9:00 AM ET.

Originates Lines of Credit Totaling $550,000 for Colorado Cannabis Operators

--Net Income increased 245% year-over-year to approximately $2.0 million in the first quarter of 2024

Company to host conference call after the market closes at 4:30 p.m. ET on May 13th

GOLDEN, Colo., May 01, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS) , a leader in facilitating financial services and credit facilities to the regulated cannabis industry, issued the following statement by Safe Harbor Financial CEO Sundie Seefried on the Drug Enforcement Administration (DEA) rescheduling cannabis from Schedule I to Schedule III on the Controlled Substances Act (CSA).

Board Member, John Darwin, to step down to pursue other opportunities

GOLDEN, Colo., Jan. 04, 2024 (GLOBE NEWSWIRE) -- 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 it originated a $9 million loan to fund the refinancing of a major Colorado cultivation facility in Denver, Colorado.

- Property to be Converted to a Cannabis Retail Store Operated by Higher Collective, a Social Equity Joint Venture -

GOLDEN, Colo., Nov. 16, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced that it has facilitated the funding of a $3 million loan for a multi-tenant cannabis industrial building in California.

Revenue of $4.3 million for the third quarter; Nine-month revenue of $13.1 million

Originates $2.9 million first lien-secured loan on key cultivation facility in limited license, adult-use market

- Innovative program supports social equity licensees with a 20% discount off account application and monthly fees -

- Closes $5.5 million first mortgage-backed loans for four properties in a key limited-license market -

- Processed a record $1.1 billion in deposits; monthly average balances on deposit increased 55% versus the same prior year period -

- Partnership opens financial service opportunities for lines of credit and banking services for Safe Harbor clients -

- Annual Stockholders Meeting taking place Thursday, May 18, 2023 at 10 am MT -

GOLDEN, Colo., April 20, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced that it has appointed Douglas Fagan, President and CEO of Partner Colorado Credit Union (“PCCU”), to the Company’s Board of Directors, effective immediately. Mr. Fagan replaces Joshua Mann, Co-CEO of Northern Lights Acquisition Corp.

- Resolved more than $68.6 Million of the debt payables reported as of December 31, 2022 -

- Average number of accounts and deposit fees increase 75% and 49%, respectively, compared to Q1 2022 -

- Full year revenue increased 34% to $9.4 million, number of active accounts increased 82% to 1040 compared to 2021 -

Significantly strengthens balances sheet and net worth with a serviceable amount of debt

GOLDEN, Colo., March 28, 2023 (GLOBE NEWSWIRE) -- 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, today announced that Chief Executive Officer Sundie Seefried and Chief Financial Officer Jim Dennedy will host a conference call and webcast on Thursday, March 30th at 4:30 pm ET / 1:30 pm PT to discuss the Company’s fourth quarter and full year 2022 financial results after market close.

Acclaimed politician, lawyer and cannabis industry advocate to advise Safe Harbor Financial as it continues to enhance its fully compliant cannabis banking platform