SHF Holdings terminates Central Bank revenue-sharing agreement for cannabis banking

SHF Holdings, Inc.

Termination effective Oct 1, 2023; orderly transition to minimize customer impact.
Agreement allowed joint deposit banking for cannabis-related businesses primarily in Arkansas.
No material early termination penalties associated with the termination.
Original agreement signed in 2018 by Rockview Digital Solutions, acquired by SHF in Oct 2022.

item 1.02

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SHF Holdings, Inc. terminated Master Services and Revenue Sharing Agreement with Central Bank (effective 2023-10-01).

Action: termination
Counterparty: Central Bank
Effective: 2023-10-01

Exact text from the filing

On July 20, 2023, SHF Holdings, Inc. (the “Company”) agreed to terminate the Master Services and Revenue Sharing Agreement with Central Bank. Under the agreement, Company provided expertise and intellectual property that allowed Company and Central Bank to jointly serve the deposit banking needs of cannabis related businesses primarily located in Arkansas. The agreement was originally executed by Rockview Digital Solutions, LLC, which was acquired by the Company in October 2022. The parties have agreed that termination will be effective as of October 1, 2023, allowing for an orderly transition that will have minimal impact on customer operations.

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Source: SEC EDGAR

accession 0001493152-23-025246

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