SHF Holdings Inc., dba Safe Harbor Financial (Nasdaq: SHFS), a Golden-based provider of financial services for the regulated cannabis industry, has entered into a Letter Agreement with Partner Colorado Credit Union (“PCCU”) regarding its Senior Secured Promissory Note. PCCU has agreed to temporarily pause receipt of principal payments due in February and March 2025, while both parties discuss potential modifications to the Note.
The company aims to finalize a modification within this two-month timeframe, though no assurance exists that an agreement will be accomplished. “This Letter Agreement represents PCCU’s commitment to work with us as we develop new solutions to capitalize on, scale and expand our service offerings,” said Terry Mendez, co-CEO of Safe Harbor Financial. “PCCU’s willingness to engage in these discussions reflects our longstanding relationship. The temporary pause in principal payments is expected to improve our liquidity by approximately $510,000.”
Safe Harbor is a service provider that offers compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD and ancillary operators.
