XSHLF - Cashing In On Cannabis: Urban-gro Secures Over $2M In Deal With XS Financial What's Next? | Benzinga
Urban-gro, Inc. (NASDAQ: UGRO) entered into an agreement related to its investment in a private placement convertible note with XS Financial Inc (CSE: XSF) (OTCQB: XSHLF), an equipment finance company to the US cannabis industry.
What Happened
Both companies mutually agreed that XSF would retire Urban Goro’s convertible note for $2.3 million, a 10% discount to the company’s current book value of the investment.
The $2.3 million cash payment received is in addition to the $0.3 million of interest earned and received since making the original $2.5 million investment in the fourth quarter of 2021.
"We believe XS Financial is a great company working to support the cannabis industry by ...