XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced Stephen Christoffersen has been appointed as Chief Financial Officer, replacing Nelson Lamb.
Christoffersen is an accomplished finance executive who has been a Board Member at XS Financial since May 2019. Since his time at XS Financial, he has helped create, launch and capitalize the company's syndication desk and has been a member of the Audit, Investment and Compensation committees. Christoffersen has held executive officer positions with several exchange-listed issuers, including Western Acquisition Ventures as CEO and Board Member of the special purpose acquisition company. He brings over 15 years of experience in capital markets, M&A and operations, along with extensive experience in IFRS and US GAAP accounting. Previously, Christoffersen worked for KushCo Holdings Inc as CFO. During his time at KushCo, he led a business turnaround that included right-sizing headcount and operational footprint while focusing sales on the leading multi-state operators, which ultimately led to an acquisition by Greenlane Holdings. Christoffersen will continue to be a member of the XS Financial Board of Directors and serve as a member of the company's Investment committee.
Christoffersen said, "I've had the privilege of watching XS execute quarter after quarter for the last 3+ years as a board member and investor in the company. The pipeline continues to grow while the cost of capital continues to improve. I believe we are embarking on an era of institutionalization that will bring traditional capital market participants into the space and enhance our value proposition to customers and shareholders. The Company's track record of raising non-dilutive capital reflects this paradigm, and it is appropriately capitalized and well-positioned to execute its business plan. I look forward to working with our management and executive team to expand our offering and maximize shareholder value."
The company thanked Lamb for his time served as CFO with XS Financial and wishes him well with future endeavors.