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Safe Harbor Financial and BIPOCann Team Up to Empower Minority-Owned Cannabis Businesses

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Safe Harbor Financial (NASDAQ: SHFS) has partnered with BIPOCann to support minority-owned cannabis businesses. Key points include:

  • BIPOCann will offer its $600 membership benefits free to Safe Harbor's social equity clients
  • BIPOCann members receive a 75% discount on Safe Harbor's financial services application fees
  • Safe Harbor launches a new webinar series on social equity and small operators
  • First webinar on August 21, 2024, focusing on cannabis banking solutions
  • Partnership aims to provide financial support and resources to minority-owned businesses
  • Collaboration seeks to create a more inclusive and equitable cannabis industry

Safe Harbor Financial (NASDAQ: SHFS) ha collaborato con BIPOCann per sostenere le aziende di cannabis di proprietà di minoranze. I punti chiave includono:

  • BIPOCann offrirà i suoi benefici di adesione del valore di $600 gratuitamente ai clienti di equità sociale di Safe Harbor
  • I membri di BIPOCann ricevono un sconto del 75% sulle commissioni di applicazione per i servizi finanziari di Safe Harbor
  • Safe Harbor lancia una nuova serie di webinar su equità sociale e piccoli operatori
  • Il primo webinar si terrà il 21 agosto 2024, concentrandosi sulle soluzioni bancarie per la cannabis
  • La partnership mira a fornire sostegno finanziario e risorse alle aziende di proprietà di minoranze
  • La collaborazione cerca di creare un'industria della cannabis più inclusiva ed equa

Safe Harbor Financial (NASDAQ: SHFS) se ha asociado con BIPOCann para apoyar a las empresas de cannabis de propiedad minoritaria. Los puntos clave incluyen:

  • BIPOCann ofrecerá sus beneficios de membresía de $600 de forma gratuita a los clientes de equidad social de Safe Harbor
  • Los miembros de BIPOCann reciben un descuento del 75% en las tarifas de aplicación de los servicios financieros de Safe Harbor
  • Safe Harbor lanza una nueva serie de seminarios web sobre equidad social y pequeños operadores
  • El primer seminario web será el 21 de agosto de 2024, centrado en soluciones bancarias para la cannabis
  • La asociación tiene como objetivo proporcionar apoyo financiero y recursos a las empresas de propiedad minoritaria
  • La colaboración busca crear una industria de cannabis más inclusiva y equitativa

세이프 하버 파이낸셜 (NASDAQ: SHFS)은 소수자 소유의 대마초 사업을 지원하기 위해 BIPOCann과 파트너십을 맺었습니다. 주요 사항은 다음과 같습니다:

  • BIPOCann은 세이프 하버의 사회적 형평성 고객에게 무료로 $600 회원 혜택을 제공합니다
  • BIPOCann 회원은 세이프 하버의 금융 서비스 신청 수수료에서 75% 할인을 받습니다
  • 세이프 하버는 사회적 형평성과 소규모 운영자에 관한 새로운 웨비나 시리즈를 시작합니다
  • 첫 번째 웨비나는 2024년 8월 21일에 개최되며 대마초 은행 솔루션에 초점을 맞춥니다
  • 파트너십은 소수자 소유의 사업체에 재정 지원과 자원을 제공하는 것을 목표로 합니다
  • 협력은 보다 포용적이고 공정한 대마초 산업을 만드는 것을 추구합니다

Safe Harbor Financial (NASDAQ: SHFS) s'est associé à BIPOCann pour soutenir les entreprises de cannabis détenues par des minorités. Les points clés incluent :

  • BIPOCann offrira gratuitement ses avantages d'adhésion d'une valeur de 600 $ aux clients d'équité sociale de Safe Harbor
  • Les membres de BIPOCann bénéficient d'une réduction de 75% sur les frais de demande des services financiers de Safe Harbor
  • Safe Harbor lance une nouvelle série de webinaires sur l'équité sociale et les petits opérateurs
  • Le premier webinaire aura lieu le 21 août 2024, axé sur les solutions bancaires pour le cannabis
  • Le partenariat vise à fournir un soutien financier et des ressources aux entreprises appartenant à des minorités
  • La collaboration cherche à créer une industrie du cannabis plus inclusive et équitable

Safe Harbor Financial (NASDAQ: SHFS) hat sich mit BIPOCann zusammengeschlossen, um Minderheiten-geführte Cannabisunternehmen zu unterstützen. Wichtige Punkte sind:

  • BIPOCann bietet die Mitgliedsvorteile im Wert von 600 $ kostenlos für die sozialen Gerechtigkeitskunden von Safe Harbor an
  • BIPOCann-Mitglieder erhalten einen 75% Rabatt auf die Antragsgebühren für die Finanzdienstleistungen von Safe Harbor
  • Safe Harbor startet eine neue Webinarreihe zu sozialer Gerechtigkeit und kleinen Betreibern
  • Das erste Webinar findet am 21. August 2024 statt und konzentriert sich auf Lösungen für Cannabisbankwesen
  • Die Partnerschaft zielt darauf ab, finanzielle Unterstützung und Ressourcen für Unternehmen im Besitz von Minderheiten bereitzustellen
  • Die Zusammenarbeit hat zum Ziel, eine inklusivere und gerechtere Cannabisindustrie zu schaffen
Positive
  • Partnership with BIPOCann to support minority-owned cannabis businesses
  • Offering $600 worth of BIPOCann membership benefits free to existing social equity clients
  • 75% discount on application fees for BIPOCann members
  • Launch of new webinar series focused on social equity and small operators
  • Potential for increased client base and positive brand image through social equity initiatives
Negative
  • None.

Insights

This partnership between Safe Harbor Financial and BIPOCann, while commendable from a social responsibility standpoint, is likely to have a minimal direct impact on Safe Harbor's financial performance in the short term. The initiative primarily focuses on providing discounts and free services to a specific segment of clients, which may not significantly boost revenue or profitability immediately.

However, there are potential long-term benefits to consider:

  • Enhanced brand reputation and goodwill in the cannabis industry
  • Potential for future business growth as supported businesses expand
  • Increased market share in the social equity segment of cannabis banking

From an investor's perspective, this move aligns with growing ESG (Environmental, Social and Governance) trends, which could positively influence the company's valuation over time. However, the financial impact of this partnership is likely to be negligible in the near term and investors should focus more on Safe Harbor's core financial metrics and overall market position in the cannabis banking sector.

This partnership represents a strategic move by Safe Harbor Financial to tap into the growing social equity segment of the cannabis industry. While the immediate financial impact may be , there are several market dynamics to consider:

  • The cannabis industry is increasingly focusing on diversity and inclusion, with many states implementing social equity programs
  • By aligning with BIPOCann, Safe Harbor positions itself as a leader in supporting minority-owned cannabis businesses
  • This move could help Safe Harbor capture a larger share of the emerging social equity market, potentially leading to long-term customer acquisition and retention

The launch of the webinar series is a smart content marketing strategy that could help Safe Harbor establish thought leadership in the social equity space. This could lead to increased brand awareness and customer trust, potentially translating to business growth over time.

However, investors should note that the success of this initiative will largely depend on the growth and success rates of minority-owned cannabis businesses, which face numerous challenges beyond just banking access. The true impact of this partnership on Safe Harbor's market position and financial performance may take several quarters or even years to materialize.

GOLDEN, Colo., July 25, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) ( NASDAQ: SHFS), a leader in providing banking, payments, and financial services to the regulated cannabis industry, announced a new partnership with BIPOCann, a Denver-based consulting firm dedicated to aiding social equity and minority entrepreneurs in the cannabis sector.

Under this partnership, BIPOCann will offer its full suite of membership benefits, valued at $600, to all of Safe Harbor's existing social equity clients at no additional cost. Additionally, BIPOCann members will receive a 75% discount on application fees for financial services, complementing Safe Harbor’s existing social equity discount program.

To further support minority-owned businesses, Safe Harbor is launching a new webinar series focused on social equity and small operators across the country. The first session – Navigating Social Equity in Cannabis with BIPOCann & Safe Harbor Financial: Cannabis Banking Solutions – will take place on Wednesday, August 21, 2024, featuring participation from BIPOCann representatives and members. This monthly series aims to provide valuable insights and resources on rescheduling, legal, lending and capital topics, to help these businesses overcome barriers and accelerate growth. Register for the webinar here.

“For years, access to reliable banking services has been one of the biggest challenges for small businesses in the cannabis industry,” said BIPOCann Founder and CEO Ernest Toney. “I’m excited for BIPOCann’s partnership with Safe Harbor to mitigate that challenge for social equity entrepreneurs and business owners across the country. This partnership strengthens our collective abilities to serve social equity operators with financial resources and tools that empower business development and growth.”

Sundie Seefried, CEO of Safe Harbor, added: “We’re excited to team up with BIPOCann to help create an inclusive, equitable cannabis industry. By combining our expertise and resources, we aim to provide these businesses with the financial support and tools they need to thrive. This collaboration not only reinforces our dedication to social equity but also sets a benchmark for the industry, demonstrating how targeted support can drive meaningful change.”

This partnership highlights Safe Harbor's commitment to supporting the development and growth of minority-owned small businesses and entrepreneurs from underserved communities. By providing these businesses with access to reliable financial services and resources, Safe Harbor and BIPOCann aim to create a more inclusive and equitable cannabis industry.

About BIPOCann
BIPOCann is a Denver-based consulting firm that helps social equity and minority entrepreneurs and business owners navigate entry and growth in the cannabis industry. Through its partnership programs, membership network, and technical assistance offerings, BIPOCann helps clients access relevant connections and resources to improve business operations. BIPOCann was a 2023 finalist for Advocacy Group of the Year at the EMJAYS International Cannabis Awards. For more information, visit www.bipocann.com.

About Safe Harbor
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past nine years, Safe Harbor has facilitated more than $21 billion in deposit transactions for businesses with operations spanning over 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor's services; Safe Harbor's growth prospects and Safe Harbor's market size; Safe Harbor's projected financial and operational performance, including relative to its competitors and loan performance; new product and service offerings Safe Harbor may introduce in the future; the impact of recent volatility in the capital markets, which may adversely affect the price of the Company's securities; Safe Harbor's ability to make the same or similar loans in the future; the outcome of any legal proceedings that may be instituted against Safe Harbor; other statements regarding Safe Harbor's expectations, hopes, beliefs, intentions or strategies regarding the future; and the other risk factors discussed in Safe Harbor's filings from time to time with the Securities and Exchange Commission. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "outlook," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject, are subject to risks and uncertainties. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of Safe Harbor), and other assumptions, that may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

Media Contact Information
Safe Harbor Media
Ellen Mellody
570-209-2947
safeharbor@kcsa.com

Investor Relations Contact Information
Safe Harbor Investor Relations
ir@SHFinancial.org
KCSA Strategic Communications
Phil Carlson
safeharbor@kcsa.com


FAQ

What is the partnership between Safe Harbor Financial (SHFS) and BIPOCann?

Safe Harbor Financial (SHFS) has partnered with BIPOCann to support minority-owned cannabis businesses by offering free BIPOCann membership benefits to Safe Harbor's social equity clients and providing a 75% discount on application fees for BIPOCann members.

When is Safe Harbor Financial (SHFS) launching its new webinar series?

Safe Harbor Financial (SHFS) is launching its new webinar series on social equity and small operators with the first session on August 21, 2024, focusing on cannabis banking solutions.

What benefits does the Safe Harbor Financial (SHFS) and BIPOCann partnership offer to minority-owned cannabis businesses?

The partnership offers $600 worth of BIPOCann membership benefits for free to Safe Harbor's social equity clients, a 75% discount on application fees for BIPOCann members, and access to a new webinar series providing insights on rescheduling, legal, lending, and capital topics.

How does the Safe Harbor Financial (SHFS) and BIPOCann partnership aim to impact the cannabis industry?

The partnership aims to create a more inclusive and equitable cannabis industry by providing minority-owned businesses with access to reliable financial services, resources, and support to help them overcome barriers and accelerate growth.

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