Northern Lights Acquisition Corp., a special purpose acquisition corporation and SHF LLC, dba Safe Harbor Financial, a cannabis-focused financial services provider, have entered a business combination. Going forward, Safe Harbor will be acquired from Partner Colorado Credit Union.
Safe Harbor provides banking and financial services for the cannabis industry. The firm has grown from its 2015 founding to over 600 accounts in 20 states and has processed over $11 billion in transactions. The firm provides its clients with safety and security through normalized banking and cash management.
“Safe Harbor is the most compelling investment opportunity we have encountered in the cannabis industry as both operators and investors,”noted John Darwin and Joshua Mann, co-CEOs of Northern Lights. “Safe Harbor is one of the only multi-state financial service organizations to successfully navigate the highly regulated cannabis banking industry, providing services that operators in other industries take for granted.”
EF Hutton, division of Benchmark Investments, LLC, is serving as placement agent and capital markets adviser. Nelson Mullins Riley & Scarborough LLP is serving as legal advisor to Northern Lights. KCSA Strategic Communications is serving as public relations and investor relations advisor.