XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced Justin Vuong has been promoted to Chief Financial Officer, replacing Stephen Christoffersen. Christoffersen will continue to be a member of the XSF Board of Directors and serve as a member of the company's investment committee and chair of the Audit committee.

Vuong has been a senior member of the XS management team since 2019, primarily focused on finance, accounting, and corporate development. Vuong worked closely with Christoffersen and was the natural choice to ascend from his prior role as SVP of Corporate Development to Chief Financial Officer. Vuong is a seasoned finance expert, boasting a finance career spanning over a decade. His extensive experience in capital markets, mergers and acquisitions, and investment strategies, combined with deep knowledge of the cannabis sector, will be invaluable as XS Financial continues to execute its growth plan.

Before joining the team at XS Financial, he served as an investment banking associate at Roth Capital Partners. There, he was an integral part of the Consumer Investment Banking team. This role allowed him to specialize in and navigate the complexities of transactions within the burgeoning cannabis industry. While at Roth Capital Partners, he completed transactions for high-profile companies within the cannabis sector, including groups like Tilray and HEXO. His profound understanding of the industry's dynamics and financial acumen have been instrumental in facilitating these noteworthy deals.

Vuong said, "I'm proud to have helped build XS Financial as the leader in equipment financing, boasting an exemplary trajectory of success and growth in an impressively short span. As we navigate this emerging sector, our team's innovation and drive continues to set industry benchmarks. As the incoming CFO, I am invigorated by the prospect of harnessing the burgeoning potential this dynamic market presents. Alongside our team, I am committed to bolstering our financial strategies, amplifying value for our stakeholders, and fortifying our position as an industry leader. The road ahead is full of opportunity, and I am thrilled to steward our financial endeavors in this exciting chapter of XS Financial."

The company thanked Christoffersen for his time served as CFO with XS Financial and looks forward to its continued relationship as a member of the Board of Directors at XSF.