LOS ANGELES--(BUSINESS WIRE)--Xtraction Services Holding Corp., (“Xtraction Services”, "XS" or the "Company") (CSE:XS; OTCQB: XSHLF), a specialty finance company engaged in equipment leasing in the United States, is pleased to announce that it has received approval for eligibility for the book-entry delivery and depository services of Depository Trust Company (“DTC”) to facilitate electronic settlement of transfers of its shares in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors. DTC eligibility will help enhance the Company's potential investor base as well as offer a more convenient trading experience for current and future shareholders while enhancing the liquidity of the Company's shares on the OTCQB.
David Kivitz, Chief Executive Officer of XS commented, “We began trading on the OTCQB in January, in order to provide improved accessibility and liquidity for U.S. investors and DTC eligibility should provide additional trading liquidity and market access in the Company’s home market.
“There have been many positive advancements made this year, which will allow us to grow the business. We continue to receive significant inbound interest though we remain prudent and selective to ensure we underwrite high-quality deals with acceptable risk profiles, especially in light of current market conditions. We remain well capitalized with a portfolio of revenue-generating leases, a streamlined cost profile, and approximately US$2.4 million of liquidity on hand. We look forward to providing additional updates as they become available.”
About Xtraction Services
Founded in 2017, XS specializes in providing equipment leasing solutions in the United States to owner/operators of cannabis and hemp companies, including cultivators, oil processors, manufacturers, testing laboratories, among others. In addition, XS provides a full range of consulting services including equipment selection and procurement, through its network of preferred vendor partnerships with original equipment manufacturers and equipment distributors. Further, XS also provides a full range of all on-site support services including staff recruitment, process development, and product formulation. This powerful dynamic provides an end-to-end solution for customers which results in recurring revenues, strong profit margins, and a proven business model for XS stakeholders.
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