- REZYFi is a mortgage origination and specialized financing company with a primary focus on providing senior loans and project financings to state-licensed operators in the cannabis industry
- The company operates through two wholly owned subsidiaries, REZYFi Lending and ResMac
- REZYFi is in a position to benefit from recent efforts by the Biden administration and the U.S. Congress to reschedule and decriminalize marijuana, respectively, with the moves expected to boost the cannabis industry
- The SAFE Banking Act of 2021 and MORE Act have passed the U.S. House of Representatives and are awaiting debate in the Senate; the two bills, if passed and assented to, will make it easy for cannabis companies to receive banking services and decriminalize marijuana
In what pundits describe as a move to follow through on some of his campaign promises, the President announced a blanket federal pardon for people incarcerated for marijuana possession. Biden also tasked the Health Secretary and Attorney General with initiating a process that could culminate in the rescheduling of marijuana, which is currently classified as a Schedule 1 drug, a category supposedly meant for substances with a high potential for abuse and no accepted medical use (https://cnw.fm/k2YZ7).
Multiple analysts reckon that the move, which sent shockwaves through the cannabis industry, triggering uptrends, albeit short-lived, in cannabis stocks and fueling speculation that it could open doors for more scientific research on cannabis, could drive a renewed push for federal marijuana reform. Though not a decriminalization, the rescheduling would be a win for the industry, according to executives, as it would remove the issues associated with the enforcement of Section 280E of the Internal Revenue Code.
The announcement and the resulting process, which are set to benefit companies like REZYFi, a growth mortgage origination and specialized financing company focused on the cannabis industry, arrive at a time when both Congress and the Senate are working on marijuana reforms. (The Senate, in particular, is poised for the first time to be able to move on Congressional action, according to Oregon’s 3rd District Representative Earl Blumenauer.)
Last fall, the U.S. House of Representatives passed the Secure and Fair Enforcement (“SAFE”) Banking Act of 2021 for the fifth time since its introduction in 2013 (https://cnw.fm/5xVMJ). The House also passed the Marijuana Opportunity Reinvestment and Expungement (“MORE”) Act this spring (https://cnw.fm/ONDUw). And although both bills are yet to pass the Senate or receive presidential assent, they are poised to enrich the marijuana jurisprudence if and when they do.
For example, the SAFE Banking Act “generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business” (https://cnw.fm/BX7uV). On the other hand, the MORE Act decriminalizes marijuana by removing it from the list of scheduled substances under the Control Substances Act (https://cnw.fm/m022c).
The two marijuana bills and the Biden announcement are set to boost an industry that REZYFi, which primarily focuses on providing senior loans and project financings to state-licensed cannabis operators, has been targeting through its wholly owned subsidiaries, REZYFi Lending. REZYFi Lending primarily addresses emerging real estate-related financing opportunities by providing commercial and specialty lending as well as working capital loans to licensed cannabis companies and owners of real estate who lease to cannabis companies. REZYFi also operates through a second wholly owned subsidiary, ResMac, which offers traditional mortgage origination, correspondent lending, and servicing.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY
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