XS Financial, a specialty finance company that provides capex and equipment financing solutions to cannabis companies in the U.S., entered into a new lease with PharmaCann for $7.6 million.

PharmaCann continues to deploy resources from its pre-existing $30 million facility, which was announced Dec. 11, 2022, leveraging available capital to further drive growth within its business.

“We highly value our long-term relationship with XS Financial as a financing partner for our strategic capital needs,” Patrick Unzicker, CFO of PharmaCann, said. “This transaction provides funding to support PharmaCann growth plans in our eight-state footprint.”

“We are thrilled to announce the successful closing of a new lease transaction with our esteemed, long-standing client, Pharmacann,” Antony Radbod, COO of XS Financial, said. “This latest round of financing is a testament to XS Financials’ commitment to the cannabis industry and reaffirms our steadfast dedication to the broader market. Amid the current capital-constrained climate, this transaction underscores our unwavering commitment to supporting top-tier operators in the cannabis industry.”