SHF Holdings Inc Stock Price, News & Analysis

Safe Harbor Financial has expanded its executive leadership team with two strategic appointments to drive growth in the cannabis financial services sector. The company named Jeffrey Kay as Senior Vice President of Marketing and welcomed back Dominic Marella as Vice President of Business Development.

Kay brings over 30 years of marketing experience, previously serving as CMO at AMMA Investments. He will lead integrated marketing strategy, brand development, and go-to-market execution. Marella, returning after two years, brings expertise in commodities and derivatives, having led cannabis initiatives at Paro and CannaTech Ventures.

Key initiatives include a brand refresh, demand-generation strategy, and partnership marketing program. Both executives join with equity-based incentives, aligning with shareholder interests. The appointments support Safe Harbor's mission to provide compliant, scalable financial solutions to cannabis-related businesses.

Safe Harbor Financial (NASDAQ: SHFS) and FundCanna have announced a strategic partnership through a mutual referral agreement to provide financial services and credit facilities to cannabis-related businesses (CRBs) across the United States. The collaboration aims to deliver accessible funding options and compliant banking services to cannabis operators facing limitations from traditional financial institutions.

Under the agreement, FundCanna-approved clients referred by Safe Harbor will deposit loan proceeds directly into Safe Harbor-managed bank accounts, ensuring regulatory compliance. The partnership enables both companies to cross-refer clients: Safe Harbor can introduce qualified clients to FundCanna for working capital and equipment financing, while FundCanna can refer clients to Safe Harbor for banking services.

This initiative comes as cannabis operators face cash constraints due to regulatory hurdles and access to traditional capital, offering an end-to-end solution for financing and banking needs.

Safe Harbor Financial (NASDAQ: SHFS) and Würk have announced an expanded strategic partnership to provide integrated financial services and workforce solutions to the cannabis industry. The partnership establishes a mutual referral program where Würk will introduce cannabis-related businesses to Safe Harbor's digital-first banking solutions, while Safe Harbor will refer clients to Würk's industry-specific HCM services.

The collaboration aims to address one of the cannabis industry's most significant challenges: access to reliable banking and workforce management solutions. According to the companies, as of 2023, 70% of cannabis businesses cited 'lack of access to banking or investment capital' as their primary challenge. The non-exclusive agreement allows both companies to maintain relationships with other industry partners while helping cannabis entrepreneurs secure fair banking rates and establish personal bank accounts with cannabis-friendly institutions.

Safe Harbor Financial (NASDAQ: SHFS) reported its Q4 and full-year 2024 results, showing mixed performance. Q4 2024 revenue was $3.7M, down from $4.5M in Q4 2023 but up 5% from Q3 2024. Loan Interest Income showed strong growth, increasing 82% year-over-year in Q4 and 123% for full-year 2024.

Full-year 2024 revenue was $15.2M, compared to $17.6M in 2023. The company maintained positive Adjusted EBITDA for three consecutive years, with $2.9M for 2024. Operating expenses decreased 42% to $22.3M in 2024. The company recorded a net loss of $48.3M, including $43.9M in non-cash valuation allowance and $9.1M in impairment charges.

Notable developments include the modification of the Partner Colorado Credit Union debt obligation, unlocking $6.4M in cash flow over two years, and reaching a milestone of processing over $25B in cannabis-related funds.

Safe Harbor Financial (NASDAQ: SHFS) has appointed Mike Regan as Head of Investor Relations and Data Science. Regan, who holds an MBA from MIT Sloan and a Bachelor's in Finance from Georgetown University, brings extensive experience from roles at Credit Suisse, Deutsche Bank, and hedge funds.

In his new position, Regan will focus on helping investors understand the company's growth initiatives while leading the development of new products utilizing Safe Harbor's databases. His recent experience includes founding Excelsior Equities, where he served as Director of Research focusing on cannabis equities since 2019.

The appointment aligns with Safe Harbor's growth strategies across their key programs: Safe Harbor Protects, Safe Harbor Lends, Safe Harbor Connects, and Safe Harbor Enables. The company continues to expand its position as a fintech leader providing financial services and credit facilities to the regulated cannabis industry.

Safe Harbor Financial (SHFS) announced significant developments in a shareholder letter from newly appointed CEO Terry Mendez. The company successfully negotiated a favorable debt modification with Partner Colorado Credit Union (PCCU), securing a two-year interest-only period that frees up over $6 million in cash and extends the due date to October 2030 at a 4.25% interest rate.

The fintech company, which has processed over $25 billion in cannabis-related funds through its partner bank network, is planning to transform from a specialized banking services provider into a comprehensive FinTech platform. The company's partner financial institutions have successfully passed over 16 federal or state regulator exams.

Safe Harbor will hold a Special Shareholder Meeting on March 13, 2025, to vote on a proposed reverse stock split aimed at maintaining Nasdaq listing compliance. The meeting will also detail the company's strategic vision under the new leadership.

Safe Harbor Financial (NASDAQ: SHFS) has successfully modified its debt agreement with Partner Colorado Credit Union (PCCU). The new terms include a two-year interest-only period for February and March 2025, which will unlock over $6 million in cash flow that would have been used for principal amortization. The Note will maintain its 4.25% interest rate and extends the due date to October 2030.

PCCU, one of Safe Harbor's largest shareholders, supports this modification to provide the company with enhanced financial flexibility for pursuing new opportunities. The agreement aims to strengthen Safe Harbor's position as a fintech leader in providing financial services to the regulated cannabis industry.