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 …

Full story available on Benzinga.com

A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.