XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has entered into a new lease with PharmaCann Inc., for $7.6 million.

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

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

Antony Radbod, Chief Operating Officer of XS Financial, said, "We are thrilled to announce the successful closing of a new lease transaction with our esteemed, long-standing client, PharmaCann. 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."