Safe Harbor hires founders of 420 IT Solutions

SHF Holdings (SHFS) announced the strategic hiring of the founders of 420 IT Solutions, a leading cannabis-focused consulting and managed services firm serving financial institutions and cannabis operators, along with the integration of 420 IT Solutions’ core operating assets and active client contracts into Safe Harbor’s platform. 420 IT Solutions co-founders Frank Salluce and David Smokler have joined Safe Harbor and will lead and scale the Company’s expanded Consulting and Managed Services division. As part of the transaction, Safe Harbor has acquired 420 IT Solutions’ operating assets, including existing client contracts, brand and trademarks, proprietary advisory frameworks, and related digital and operational assets focused on regulated banking environments. Acquisition consideration is fully performance-based, as it is comprised of up to 125,000 of the Company’s shares that are issuable only upon the achievement of incremental revenue milestones of $5M in 2026 or $6M in 2027.