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 agreement with Northeast Alternatives, Inc. (NEA), a vertically integrated Massachusetts and Michigan operator.

NEA has been approved for a $7.5 million CAPEX lease facility, with an immediate drawdown of over $1 million, to purchase equipment with up to 60-month terms. This equipment acquisition will enhance the capabilities of existing processing facilities and buildouts for their operations.

Rich Rosier, Co-founder and CFO of Northeast Alternatives, said, "We found the experience working with XS Financial to be timely, effective and efficient. We look forward to continuing our relationship with XS Financial through completion of this project in Michigan as well as our planned expansion projects in the future."

Antony Radbod, Chief Operating Officer of XS Financial, said, "We are thrilled to add Northeast Alternative to our rapidly expanding portfolio of top-tier cannabis operators. NEA has established a strong foundation in Massachusetts and Michigan markets, and we are excited to provide them with access to CAPEX and equipment financing. We look forward to supporting NEA with this lease facility through their next phase of growth."