Safe Harbor Financial Seeks Liquidity Improvement with Promissory Note Modification

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GOLDEN, Colo. – SHF Holdings Inc., doing business as Safe Harbor Financial, a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, and Partner Colorado Credit Union (PCCU) have agreed to temporarily pause principal payments on a senior secured promissory note due to PCCU. Payments for February and March 2025 will be delyaed while the parties engage in discussions regarding a potential modification of the note. Safe Harbor is working to finalizing a modification within the two-month period, although there is no assurance that an agreement will be reached.

“This letter agreement represents PCCUs 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.”

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Mendez will replace Safe Harbor founder and CEO Sundie Seefried, who previously served as CEO at PCCU, when Seefried retires later this month.

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 decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets.

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