Josh Rosen and Kris Krane invited to take part in SXSW’s Cannabusiness track
PHOENIX, Ariz., Feb. 18, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is pleased to announce that two members of its leadership team have been invited to participate in this year’s SXSW Conference.
4Front CEO Josh Rosen and 4Front President Kris Krane, who co-founded the cannabis company in 2011, will each present during the iconic conference’s Cannabusiness track. They will speak on the future of the rapidly evolving and expanding cannabis industry.
4Front CEO Josh Rosen and 4Front President Kris Krane will speak on the future of the cannabis industry at SXSW in March 2020.
Kris Krane, who also serves as president of Mission Dispensaries, 4Front’s retail division, will give a talk titled “Frenemies: Cannabis Activists & Cannabis Industry,” which will explore the sometimes-strained relationship between the industry and activists within the space. His talk will examine how the two can support each other, where they clash and why he thinks the industry has an obligation to support the drug-policy-reform movement. That talk is scheduled to take place on Wed., March 18, 2020, at 11 a.m. CT at the Hilton Austin Downtown.
4Front CEO Josh Rosen will participate in a panel discussion titled “The Future of Cannabis Consumption,” which will discuss consumer-consumption trends within the multi-billion-dollar cannabis industry. The panelists will discuss the rise in vape culture, the diversification of form factors for cannabis products, and the future of consumption habits. That panel is scheduled to take place on Sat., March 21, 2020, at 2 p.m. CT at the Hilton Austin Downtown.
“SXSW is one of the premier cultural and technological showcases in the world and its embrace of the future of cannabis signals another step forward for the industry. Kris and I are excited to have the opportunity to share our knowledge and experience with this audience,” Rosen said.
Krane added: “Finding mainstream avenues to educate and share information have always been critical factors to the advancement of the legal cannabis industry. For decades, activists and entrepreneurs have recognized the potential of cannabis to reshape how we grow economically and societally, we are now seeing the fruits of that labor in the rise and excitement surrounding the space.”
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Josh Rosen and Kris Krane invited to take part in SXSW’s Cannabusiness track
PHOENIX, Ariz., Feb. 18, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is pleased to announce that two members of its leadership team have been invited to participate in this year’s SXSW Conference.
4Front CEO Josh Rosen and 4Front President Kris Krane, who co-founded the cannabis company in 2011, will each present during the iconic conference’s Cannabusiness track. They will speak on the future of the rapidly evolving and expanding cannabis industry.
4Front CEO Josh Rosen and 4Front President Kris Krane will speak on the future of the cannabis industry at SXSW in March 2020.
Kris Krane, who also serves as president of Mission Dispensaries, 4Front’s retail division, will give a talk titled “Frenemies: Cannabis Activists & Cannabis Industry,” which will explore the sometimes-strained relationship between the industry and activists within the space. His talk will examine how the two can support each other, where they clash and why he thinks the industry has an obligation to support the drug-policy-reform movement. That talk is scheduled to take place on Wed., March 18, 2020, at 11 a.m. CT at the Hilton Austin Downtown.
4Front CEO Josh Rosen will participate in a panel discussion titled “The Future of Cannabis Consumption,” which will discuss consumer-consumption trends within the multi-billion-dollar cannabis industry. The panelists will discuss the rise in vape culture, the diversification of form factors for cannabis products, and the future of consumption habits. That panel is scheduled to take place on Sat., March 21, 2020, at 2 p.m. CT at the Hilton Austin Downtown.
“SXSW is one of the premier cultural and technological showcases in the world and its embrace of the future of cannabis signals another step forward for the industry. Kris and I are excited to have the opportunity to share our knowledge and experience with this audience,” Rosen said.
Krane added: “Finding mainstream avenues to educate and share information have always been critical factors to the advancement of the legal cannabis industry. For decades, activists and entrepreneurs have recognized the potential of cannabis to reshape how we grow economically and societally, we are now seeing the fruits of that labor in the rise and excitement surrounding the space.”
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
When CNBC was planning its coverage of how the adult-use cannabis market was faring in Illinois a month after legalization, they invited 4Front President Kris Krane to be a guest
4Front’s own Kris Krane is expected to be featured throughout the day on CNBC as part of the channel’s coverage of the recreational roll-out in Illinois. Be on the lookout today for live shots and interviews from our Mission South Shore dispensary in Chicago throughout the day. Boasting one of the only dispensaries in Chicago that has been continuously serving the recreational market uninterrupted since January 1, this is great exposure for 4Front and our Mission stores!
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
When CNBC was planning its coverage of how the adult-use cannabis market was faring in Illinois a month after legalization, they invited 4Front President Kris Krane to be a guest
CNBC’s Jane Wells interviewing 4Front President Kris Krane inside Mission’s South Shore dispensary on Monday
4Front’s own Kris Krane is expected to be featured throughout the day on CNBC as part of the channel’s coverage of the recreational roll-out in Illinois. Be on the lookout today for live shots and interviews from our Mission South Shore dispensary in Chicago throughout the day. Boasting one of the only dispensaries in Chicago that has been continuously serving the recreational market uninterrupted since January 1, this is great exposure for 4Front and our Mission stores!
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
Pure Ratios’ therapeutic transdermal patch and a strategic decision to focus on a direct-to-consumer online sales channel is driving sales acceleration
VANCOUVER, B.C., and PHOENIX, Ariz., February 3, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is pleased to highlight the rapidly improving performance of its Pure Ratios wellness brand, which gained valuable visibility over the weekend during Super Bowl Week in Miami.
Led by Founder Chad Conner, San Diego-based Pure Ratios has a long history in wellness-oriented product development, including the integrated use of cannabinoids for therapeutic benefits. Since joining the 4Front Family as a result of the merger with Cannex in July 2019, Pure Ratios has seen its sales grow exponentially.
“Joining the 4Front Family has allowed us to focus our attention on the most accessible and differentiated products within our portfolio and pipeline, and also enhance our manufacturing and fulfillment capabilities,” Conner said. “The recent acceleration in sales is a direct result of 4Front’s investment and strategic planning, layered on top of our product development capabilities and our deep knowledge of utilizing cannabinoids for therapeutic benefit.”
In the last few months, Pure Ratios has seen a significant uptick in online sales and reorder rates among customers. Its innovative line of transdermal CBD reservoir patches, which can provide relief for up to 96 hours, is a customer favorite and responsible for driving the significant growth in sales.
“I’m most excited to see so many people benefiting from our wellness products and increased access to regulated, high-quality, cannabis-derived products,” Conner said. “I live for the testimonials and witnessing the growing acceptance of adaptogenic plants, which I believe should include therapeutic cannabis.”
Brad Kotansky, 4Front’s CFO, has worked closely with Conner and the Pure Ratios team on its strategic business planning and achieving its growth targets through a direct-to-consumer approach.
“Our deep strategic dive with the Pure Ratios’ team highlighted an incredibly powerful, capital-efficient growth opportunity for 4Front,” Kotansky said. “Supported by overwhelmingly positive customer feedback across its product portfolio—specifically for its transdermal patch—we have recently turned on a direct-marketing approach that capitalizes on our ability to build direct relationships with our customers. We believe that approach has paid off, as evidenced by solid reordering trends.”
Kotansky added: “While the growth is off of a small base, should the momentum continue as expected, it would quickly become a material contributor to 4Front’s 2020 financial performance. We are not currently sharing specific sales numbers, but plan to share financial metrics for Pure Ratios during our Q4 earnings call.”
Echoing the broader team’s excitement, 4Front CEO Josh Rosen said, “It’s gratifying to see the investment of energy we put into the Pure Ratios’ team and business structure showing such quick results. I’m not one for hyperbole, yet the feedback on the functionality of our therapeutic patch mixed with the sales acceleration and strong reorder rates confirms our initial thoughts at the time of acquisition that Pure Ratios’ patch is a potential ‘killer app’ for wellness-oriented cannabis products.”
Rosen added: “We’re obviously excited about the product and have set up a discount code for 4Front investors or interested investors who would like to try it for themselves.”
Until the end of February, use the promo code 4FRONT on the Pure Ratio’s website at https://www.pureratioscbd.com to get 60% off your order.
Pure Ratios featured during Super Bowl Week As its sales ramp up, Pure Ratios is also finding more opportunities to extend the brand’s reach. Over the weekend, as all eyes were turned to Miami for the Super Bowl between the 49ers and the Chiefs, a selection of Pure Ratios products were featured in gift bags at a celebrity Super Bowl event held at Bloomingdale’s in Aventura to support The Dan Marino Foundation. Celebrity athletes, including College Hall of Famer Reggie Williams, Heisman winner Eddie George, and two-time Super Bowl champ Eric Rowe, were in attendance and had the opportunity to try Pure Ratios products and take some home with them.
From left to right: Patrick Eckstrom, Pure Ratios’ Chief Revenue Officer; Helen Hoey, Bravo TV personality; Pure Ratios CEO, Chad Conner; and College Football Hall of Famer Reggie Williams
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States and the proposed trading dated of the resulting issuer.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
Pure Ratios’ therapeutic transdermal patch and a strategic decision to focus on a direct-to-consumer online sales channel is driving sales acceleration
VANCOUVER, B.C., and PHOENIX, Ariz., February 3, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is pleased to highlight the rapidly improving performance of its Pure Ratios wellness brand, which gained valuable visibility over the weekend during Super Bowl Week in Miami.
Led by Founder Chad Conner, San Diego-based Pure Ratios has a long history in wellness-oriented product development, including the integrated use of cannabinoids for therapeutic benefits. Since joining the 4Front Family as a result of the merger with Cannex in July 2019, Pure Ratios has seen its sales grow exponentially.
“Joining the 4Front Family has allowed us to focus our attention on the most accessible and differentiated products within our portfolio and pipeline, and also enhance our manufacturing and fulfillment capabilities,” Conner said. “The recent acceleration in sales is a direct result of 4Front’s investment and strategic planning, layered on top of our product development capabilities and our deep knowledge of utilizing cannabinoids for therapeutic benefit.”
In the last few months, Pure Ratios has seen a significant uptick in online sales and reorder rates among customers. Its innovative line of transdermal CBD reservoir patches, which can provide relief for up to 96 hours, is a customer favorite and responsible for driving the significant growth in sales.
“I’m most excited to see so many people benefiting from our wellness products and increased access to regulated, high-quality, cannabis-derived products,” Conner said. “I live for the testimonials and witnessing the growing acceptance of adaptogenic plants, which I believe should include therapeutic cannabis.”
Brad Kotansky, 4Front’s CFO, has worked closely with Conner and the Pure Ratios team on its strategic business planning and achieving its growth targets through a direct-to-consumer approach.
“Our deep strategic dive with the Pure Ratios’ team highlighted an incredibly powerful, capital-efficient growth opportunity for 4Front,” Kotansky said. “Supported by overwhelmingly positive customer feedback across its product portfolio—specifically for its transdermal patch—we have recently turned on a direct-marketing approach that capitalizes on our ability to build direct relationships with our customers. We believe that approach has paid off, as evidenced by solid reordering trends.”
Kotansky added: “While the growth is off of a small base, should the momentum continue as expected, it would quickly become a material contributor to 4Front’s 2020 financial performance. We are not currently sharing specific sales numbers, but plan to share financial metrics for Pure Ratios during our Q4 earnings call.”
Echoing the broader team’s excitement, 4Front CEO Josh Rosen said, “It’s gratifying to see the investment of energy we put into the Pure Ratios’ team and business structure showing such quick results. I’m not one for hyperbole, yet the feedback on the functionality of our therapeutic patch mixed with the sales acceleration and strong reorder rates confirms our initial thoughts at the time of acquisition that Pure Ratios’ patch is a potential ‘killer app’ for wellness-oriented cannabis products.”
Rosen added: “We’re obviously excited about the product and have set up a discount code for 4Front investors or interested investors who would like to try it for themselves.”
Until the end of February, use the promo code 4FRONT on the Pure Ratio’s website at https://www.pureratioscbd.com to get 60% off your order.
Pure Ratios featured during Super Bowl Week As its sales ramp up, Pure Ratios is also finding more opportunities to extend the brand’s reach. Over the weekend, as all eyes were turned to Miami for the Super Bowl between the 49ers and the Chiefs, a selection of Pure Ratios products were featured in gift bags at a celebrity Super Bowl event held at Bloomingdale’s in Aventura to support The Dan Marino Foundation. Celebrity athletes, including College Hall of Famer Reggie Williams, Heisman winner Eddie George, and two-time Super Bowl champ Eric Rowe, were in attendance and had the opportunity to try Pure Ratios products and take some home with them.
From left to right: Patrick Eckstrom, Pure Ratios’ Chief Revenue Officer; Helen Hoey, Bravo TV personality; Pure Ratios CEO, Chad Conner; and College Football Hall of Famer Reggie Williams
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States and the proposed trading dated of the resulting issuer.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
PHOENIX, Jan. 30, 2020 /CNW/ – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) announces the completion of the first steps of the capital plan highlighted in its press release dated November 29, 2019, announcing 4Front’s financial performance in Q3 2019.
The capital plan underpins the Company’s focus on revenue growth and profitability in 2020 and includes the divesture of certain non-core assets. The closing of the sale of 4Front’s economic interests associated with three Arkansas dispensaries is the first of these divestitures. Additionally, the Company announces the closing of additional funding from entities associated with Gotham Green Partners, LLC (collectively referred to as “GGP“). GGP, an existing investor and the holder of secured convertible promissory notes in 4Front, is actively engaged in supporting 4Front’s growth plans.
“4Front continues to sharpen its focus on operations and execution in key markets, enabling us to drive towards our revenue growth and profitability goals,” said Josh Rosen, 4Front CEO. “In December we provided initial guidance for both 2020 and 2021, which included the modest capital needs anticipated to get our company to cash flow positive in the back half of this year. Today’s announcement marks the first disclosure around the broader capital plan intended to enable the company to achieve its guidance as previously outlined. As a shareholder-aligned management team with significant skin in the game, we see opportunities to further optimize our business around core assets while minimizing dilution to shareholders. The arc of our active discussions with both strategic and financial partners buttresses our confidence in being properly capitalized to fund our expansion.”
“I’m eager to capitalize on our strong business momentum and demonstrate our capabilities as an integrated company with Cannex over the coming quarters,” said Brad Kotansky, 4Front’s CFO. “I’m particularly pleased with the receptivity among both existing and new prospective investors to our prioritization of efficient (low-cost), quality production at scale.”
4Front has also received additional funding from GGP to support the Company’s ongoing growth.
“The Gotham Green team has been a strong partner to Cannex, and now 4Front. The willingness to support our process is consistent with that partnership to enable our growth while we optimize our footprint and capital structure,” Rosen said.
GGP Managing Member Jason Adler noted, “We continue to be believers in the combined Cannex and 4Front team and its world-class production capabilities. Our additional investment is a further vote of confidence in the management team and will ensure the continued expansion plans remain on schedule.”
4Front has issued to GGP additional senior secured convertible notes in the principal amount of US$3,000,000 (the “Notes“). The Notes bear 15% interest, paid in kind, and are convertible, along with interest, at a price equivalent to US$0.647 per subordinate voting share (“SVS“), a 29% premium to the SVS closing price as of January 29, 2020. Additionally, 4Front has issued warrants equivalent to 2,230,080 SVS at US$0.673 per share, a 35% premium to the closing price as of January 29, 2020. The Notes mature no later than six months from issuance and the warrants have a term of three years.
The terms of 4Front’s sale of its economic interests related to the Arkansas dispensaries are confidential. A copy of the Notes may be found under the company’s SEDAR profile, available at www.sedar.com, and more information may be found under the Company’s profile on the Canadian Securities Exchange’s website.
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit 4Front’s website.
Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Media Contact
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States and 4Front’s ability to achieve revenue and profitability goals.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
