Northern Lights Acquisition Corp. filed SEC Form 8-K: Termination of a Material Definitive Agreement
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Section 1 – Registrant’s Business and Operations
Item 1.02. Termination of a Material Definitive Agreement
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.
The agreement, originally executed in 2018, was renewable on an annual basis and did not include any material early termination penalties.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SHF HOLDINGS, INC. | ||
| Date: July 21, 2023 | By: | /s/ Donnie Emmi |
| Chief Legal Officer | ||