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XS Financial Upsizes Facility to $20MM for Cannabis Firm Columbia Care

May 04, 2021, 07:18 AM
Filed Under: Cannabis

XS Financial Inc. announced Columbia Care has fully drawn on its initial facility announced on December 3, 2020 and, XSF has now upsized its total commitment to $20 million. Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult-use cannabis products in the United States. Columbia Care currently operates 114 pro forma facilities, including 87 dispensaries and 27 cultivation and manufacturing facilities either open or under development.

"We are thrilled to extend additional CAPEX financing to Columbia Care as they scale their nationwide operations,” said David Kivitz, CEO of XSF. “With this facility, XSF enters new markets in Arizona, West Virginia and Missouri, and Columbia Care will now have access to $20 million, which can be flexibly drawn for eligible CAPEX and equipment purchases. We are the preferred CAPEX partner for Columbia Care and will continue to support their CAPEX financing as they grow and expand into new markets."

Joshua Snyder, SVP, Business Development of Columbia Care, said, "We are pleased to expand on our relationship with XS Financial as we continue growing in our existing and emerging markets. This increased facility from XSF will allow us to focus on driving growth, margin expansion, and profitability as we expand on planned projects. XS Financial has proven itself as a trusted growth partner and we appreciate their commitment to execution working alongside our procurement and finance teams."

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