Mission South Shore will open at 6 a.m. on Jan. 1, 2020
VANCOUVER, BC, and PHOENIX, AZ, Dec. 19, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is pleased to announce that its Mission dispensary located in Chicago’s South Shore neighborhood will begin adult-use sales on Jan. 1, 2020.
Mission South Shore is scheduled to open at 6 a.m. and make one of Illinois’ first legal adult-use cannabis sales to Edie Moore, executive director of the Chicago chapter of the National Organization for the Reform of Marijuana Laws (NORML) and a positive force for the normalization of cannabis.
The Mission dispensary, located at 8554 S. Commercial Ave., will be the only cannabis retail store on the city’s Southeast Side. It has been serving its neighborhood as a medical cannabis dispensary since 2017.
“The opening will be a great moment for our company, Chicago, and Illinois,” said Kris Krane, president of 4Front and Mission, and a Chicago resident. “We are honored to be part of it, and also honored to serve Edie, who has worked tirelessly to bring an end to cannabis prohibition, as our first customer.”
He added: “We’ve served the South Shore neighborhood for more than two years and we look forward to continuing to serve our medical patients as we welcome new legal adult customers to our store.”
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.
The planned sale supports 4Front’s capital allocation strategy
Management hosting its Q3 2019 earnings conference call today, Dec. 2, at 9 a.m. EST
VANCOUVER, BC, and PHOENIX, AZ, December 2, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), has signed a letter of intent to divest 100% of its economic interests associated with three dispensary licenses in Arkansas for a combination of cash and debt.
The proposed transaction is expected to be completed in mid-December. Terms of the deal are confidential.
“Although we believe Arkansas is an attractive developing medical cannabis market, we are optimizing our footprint and focusing our resources—both capital and execution capabilities—on our most significant opportunities,” said Josh Rosen, CEO of 4Front. “We view this opportunity to divest our interests in Arkansas as consistent with our approach.”
Conference Call
The Company will host its Q3 2019 earnings conference call with CEO Josh Rosen, CFO Brad Kotansky, and President Kris Krane today at 9 a.m. EST. Join by dialing 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries.
The call will be available for replay if you’re unable to join. To access the replay, which will be available until December 9, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and using this replay pin number: 13696657.
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 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.
The company will hold a conference call with management on Monday, December 2
VANCOUVER, BC, and PHOENIX, AZ, November 29, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), an operator of strategically aligned cannabis-related businesses, including cultivation, production and retail operations, today released its unaudited financial results for the quarter ended September 30, 2019 (“Q3 2019”).
The Company’s Q3 2019 financial statements are the first to consolidate results from 4Front Holdings LLC (“4Front Holdings”) and Cannex Capital Holdings, Inc. (“Cannex”), which completed a merger on July 31, 2019. Q3 2019 includes Cannex operations from July 31, 2019, through September 30, 2019.
All dollar amounts herein are references to U.S. dollars.
Q3 2019 Financial Results Highlights
As previously reported, Systemwide Pro Forma Revenue, a non-IFRS measure, of $16,902,029, an increase of more than 20% over the previous quarter’s $14,058,442
As previously reported, IFRS Revenue of $7,517,621
Adjusted EBITDA, a non-IFRS measure, was a loss of $4,610,917
Net Income was a loss of $6,864,420**
The Company ended the quarter with $12.4 million of cash and anticipates ending November with approximately $13 million in available cash and undrawn loan commitments.
(Please see Note Regarding Non-IFRS Measures, Reconciliation, and Discussion below.) (*Please see the Financial Statement section below, and the Company’s Q3 2019 Unaudited Condensed Interim Financial Statements and Management Discussion and Analysis, available under the Company’s SEDAR profile at www.sedar.com, for more information.)
“These reported results reflect the initial consolidation of 4Front and Cannex operations and I’m proud of our collective teams’ efforts to support the integration of our two organizations and navigate the inherent changes that come with mergers. I couldn’t be more pleased with how the team has come together and has us prepared to capitalize on the opportunities in our dynamic industry,” said Josh Rosen, CEO of 4Front. “We have been, and intend to continue to be, aggressive, but prudent. As our President, Kris Krane, and I have noted in the past, our perspective is that we view the industry more like the game of Risk rather than Monopoly. In this capital markets environment, this means an even greater emphasis on strategic capital allocation, tighter spending controls, and prioritization of projects. We’re built for this.”
Q3 Operational Milestones and Updates
The integration of 4Front and Cannex is complete. Operational leadership and accountability have been streamlined across all three business divisions—Brightleaf, Mission, and Pure Ratios—positioning the Company to support the anticipated acceleration of growth in 2020
Brightleaf, 4Front’s cultivation and production division, introduced the first set of Cannex brands into the Massachusetts market
First harvest in Brightleaf’s Worcester, Mass., cultivation facility post-Cannex merger
Mission opened a dispensary in Catonsville, Maryland, the fourth Mission dispensary in the state
Pure Ratios’ THC-enhanced product line re-introduced into the California market in partnership with Caliva
The Company continued to progress on its key infrastructure projects, including its manufacturing facility in Commerce, California, the optimization of its vertically integrated facility in Georgetown, Massachusetts, and the adult-use preparations for Mission retail in Massachusetts, Illinois, and Michigan
4Front expanded its executive team with the hiring of Brad Kotansky as Chief Financial Officer and Alicia Mandel as Chief Human Performance Officer. In addition, it strengthened its finance team with the addition of Nicolle Dorsey as EVP of Finance.
Key Projects and Financial Guidance
“After a review of our existing license portfolio, capital spending plans and, importantly, the respective anticipated returns on invested capital, we have optimized our near-term plans to focus on driving revenue and profitability in 2020 without sacrificing the most attractive additional opportunities that support our long-term vision,” said CFO Brad Kotansky. “We’re fortunate to have an agile platform that didn’t overextend, which allows us to prioritize our spending, leaving only modest capital requirements to demonstrate meaningful growth and performance. We’ve set achievable expectations and should the access to and cost of capital improve, we have numerous opportunities in hand to accelerate our growth beyond our guidance.”
Mr. Rosen added: “While we see strong growth opportunities across our portfolio and we remain confident in our access to capital, we are less enthusiastic about the current cost of capital. As meaningful shareholders ourselves, we believe a more measured approach to near-term capital spending is in our shareholders’ best interest. Our financial guidance for 2020 and 2021 assumes we raise $30 million of external funding to support the completion of our infrastructure and near-term optimization plans in California, Massachusetts, and Illinois, and ongoing working capital. This should allow us, with some cushion, to achieve positive cash flow in the second half of 2020. We have a strong, supportive and aligned core stakeholder base, which gives us a high degree of confidence in our ability to support our capital needs and I look forward to providing updates on our progress over the coming months.”
4Front is providing the following guidance for 2020 and 2021:
Adjusted EBITDA is anticipated to inflect positive in the second half of 2020 due to an increase in sales volumes, primarily in Massachusetts and California.
The Company believes the foregoing guidance is reasonable given the current developments in the Company’s businesses and accelerating growth in cannabis markets in which the Company operates. However, the foregoing guidance is subject to the following assumptions and risks:
The Company’s ability to raise up to $30 million in capital;
The timing of completion of the Company’s infrastructure projects, including those ongoing at Georgetown, Massachusetts and Commerce, California, within budgeted cost;
Certain pricing assumptions for cannabis products in California, Massachusetts, and other markets in which the Company operates;
The Company’s ability to continue to develop wholesale sales relationships in markets in which it is introducing products, such as California and Massachusetts;
The Company’s subsidiaries, or entities with which the Company has managed services agreements or effectively similar arrangements, ability to attain and retain recreational cannabis licensing.*
(*Please see the Cautionary Note Regarding Forward Looking Statements below for more information regarding risks to the Company’s business.)
Additional Details
As of close of business today, 4Front would have a basic total of 530,852,417 shares outstanding, when calculated as if all share classes were converted to Subordinate Voting Shares, and a fully diluted total of 536,475,437[1] shares when calculated on the same basis. The total outstanding share count does not include shares to be issued pursuant to the Non-Brokered Private Placement described below. For further details regarding 4Front’s share structure, please see the its profile at www.thecse.com.
[1]Using the treasury stock method as of November 29, 2019.
Conference Call
The Company will host a conference call with CEO Josh Rosen, CFO Brad Kotansky, and President Kris Krane on Monday, December 2, at 9 a.m. EST. Join by dialing 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries.
The call will be available for replay if you’re unable to join. To access the replay, which will be available until December 9, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and using this replay pin number: 13696657.
Non-Brokered Private Placement
The Company further announces the completion of a non-brokered private placement (the “Private Placement”) of Subordinate Voting Shares of the Company to two principals of Bayfront Capital Holdings Limited and AHS Inc. (collectively “Bayfront”) as settlement for previously outstanding service fees owed to Bayfront related to services provided in 2018. The Company will issue under the Private Placement 517,728 Subordinate Voting Shares to each of the two principals at a price of CAD 0.59 per share, representing in aggregate under 0.2% of total shares outstanding of the Company.
Financial Statements The condensed consolidated interim financial statements for the nine months ended September 30, 2019, have been prepared in accordance with IAS 34 – Interim Financial Reporting. These statements have not been reviewed by an auditor.
The Company’s Management Discussion and Analysis and Interim Financial Statements for the period, and the accompanying notes, are available under the Company’s profile on SEDAR at www.sedar.com and on its website at https://4frontventures.com/investors.
Note Regarding Non-IFRS Measures, Reconciliation, and Discussion
In this press release, 4Front refers to certain non-IFRS financial measures such as Systemwide Pro Forma Revenue and Adjusted EBITDA. These measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. 4Front defines Systemwide Pro Forma Revenue as total revenue plus revenue from entities with which the Company has a management contract, or effectively similar relationship (net of any management fee or effectively similar revenue), but does not consolidate the financial results of per IFRS 10 – Consolidated Financial Statements. 4Front considers this measure to be an appropriate indicator of the growth and scope of the business.
Adjusted EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization less share-based compensation expense and one-time charges related to acquisition and financing related costs. 4Front considers these measures to be an important indicator of the financial strength and performance of our business. The following tables provide a reconciliation of each of the non-IFRS measures to its closest IFRS measure.
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.
Certain statements contained in this release constitute “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking information”), which are based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. Statements concerning the Company’s objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, future financial performance and condition of the Company is forward-looking information. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “will”, “would” and similar expressions, including the negative and grammatical variations of such expressions, are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information.
By their nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts and projections that constitute forward-looking information will not occur. Such forward-looking information in this release speaks only as of the date of this release. Forward-looking information in this release includes, but is not limited to, statements related to future developments and the business and operations of 4Front Ventures, statements with respect to expected revenue, Systemwide Proforma Revenue, and Adjusted EBITDA, statements with respect to infrastructure projects, statements with respect to raising capital and capital spending, growth opportunities, sales volume increases, changes in federal, state, and local cannabis laws/regulations, and the Company’s guidance for 2020 and 2021.
While the Company currently believes the guidance for 2020 and 2021 to be reasonable, it is subject to a number of assumptions and risks, including but not limited to the following:
The Company’s ability to raise up to $30M in capital;
The timing of completion of the Company’s infrastructure projects, including those ongoing at Georgetown, MA and Commerce, CA, within budgeted cost;
Certain pricing assumptions for cannabis products in California, Massachusetts, and other markets in which the Company operates;
The Company’s ability to continue to develop wholesale sales relationships in markets in which it is introducing products, such as California and Massachusetts;
The Company’s subsidiaries, or entities with which the Company has managed services agreements or effectively similar arrangements, ability to attain and retain recreational cannabis licensing.
The Company’s accurate estimation of its current and future tax liability, taking into account limitations posed by Internal Revenue Code Section 280E, which significantly limits deductions which may be taken by cannabis businesses.
The Company is not providing guidance on net income or earnings before income taxes because such IFRS measures will be subject to potentially wide fluctuations outside of the Company’s control and ability to accurately forecast, particularly with respect to the Company’s derivative liabilities, which are largely a function of the price of its publicly-traded subordinate voting shares.
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: there can be no assurance that capital will be raised on desirable terms or at all, the Company may not meet its projections based on the risk factors set out above, capital projects may not be completed on the planned schedule or at all, capital projects being completed within budget, dependence on obtaining and/or retaining regulatory approvals, a potential change in laws could significantly impact the Company’s ability to do business, the Company’s limited operating history, market growth and state adoption may be hindered due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry, significant market disruption as jurisdictions in which the Company operates implement “track and trace” systems which track product from seed to sale in regulated markets, the Company’s failure to correctly estimate or pay its federal income taxes, change in the U.S. Internal Revenue Service regulations or guidance regarding Section 280E and cannabis-related businesses which could materially change the Company’s current or expected tax burden, and other regulatory or political change.
For more information regarding the risks to the Company’s business, please see the Q3 2019 financial statements and management discussion and analysis, available on www.sedar.com, and the Company’s Listing Statement available at www.thecse.com.
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.
Company will release full financial results November 29, 2019, and host a conference call Monday, December 2, prior to market open
VANCOUVER, BC, and PHOENIX, AZ, Nov. 12, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) is providing preliminary Systemwide Pro Forma Revenue, as well as preliminary revenue, for its third quarter ended September 30, 2019 (“Q3 2019”). Q3 2019 financial results are the first to incorporate the financial results of assets previously owned by Cannex Capital Holdings, Inc., which completed its merger with 4Front on July 31, 2019.
Based on preliminary information, and subject to potential accounting adjustments, 4Front’s Q3 2019 Systemwide Pro Forma Revenue was $16,902,029, an increase of more than 20% over the last quarter ($14,058,442), as disclosed in its release dated August 29, 2019. The Company regards Systemwide Pro Forma Revenue, a non-IFRS measure, as an appropriate indicator of the economic scale of its business. (Please see discussion of this Non-IFRS measure below.) The Company is also announcing preliminary IFRS revenue of $7,517,621 for Q3 2019.
“We continued to make significant strides through the third quarter of 2019 driven both by our integration with Cannex and organic development of our operations,” said Josh Rosen, CEO of 4Front. “While the revenue growth is important, the future success of this company is being driven forward by the operational milestones we continue to achieve. I look forward to providing investors deeper insight into our performance and strategic plans on our December 2nd earnings call.”
The Company plans to release full financial results after markets close on November 29, 2019. Management will host a conference call to discuss the financial results the following Monday, December 2, at 9 a.m. EST.
Earnings Conference Call
The Company will host a conference call with management on Monday, December 2, at 9 a.m. EST. Join by dialing 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries.
The call will be available for replay if you’re unable to join. To access the replay, which will be available until Monday, Dec. 9, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and using this replay pin number: 13696657.
Non-IFRS Financial Measures
4Front uses Systemwide Pro Forma Revenue, which is not a measurement included in the International Financial Reporting Standards (IFRS), to capture total revenue plus revenue from entities with which the Company has a management contract, or effectively similar relationship (net of any management fee or effectively similar revenue), but does not consolidate the financial results of per IFRS 10 – Consolidated Financial Statements, plus revenue from pending and closed acquisitions as if such acquisitions had occurred on January 1, 2019. 4Front considers this measure to be an appropriate indicator of the growth and scope of the business. The following table provides a reconciliation of Systemwide Pro Forma Revenue to its closest IFRS measure.
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
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.
Recent hires and departures prioritize driving performance in adult-use markets and improved supply chain and vendor management
VANCOUVER, BC, and PHOENIX, AZ, November 1, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), has recently made a number of key additions to its leadership and operations teams as it prioritizes execution in adult-use markets. The Company is also announcing the granting of options to independent board members and the departures of certain team members.
This crop of new hires and promotions is largely aimed at increasing the Company’s emphasis on managing supply chain and vendor relationships, which are critical ingredients for both product manufacturing and retail success in nascent, often constrained, cannabis markets.
“As adult-use markets gain momentum East of the Mississippi, where the majority of our retail operations exist, including in the key states of Illinois and Massachusetts, we are putting in place the people and systems to allow the company to capitalize on the market opportunities ahead of us, including the integration of the 4Front and Cannex teams,” said Josh Rosen, 4Front CEO. “It’s also become increasingly apparent that our retail heritage in California and production heritage in Washington, including our understanding of the importance of collaboration within the supply chain, is growing in applicability.”
Regarding the rapid growth of the 4Front team, Mr. Rosen commented: “We are often finding that hiring from within the maturing cannabis industry is a more effective approach to growing our team, although we also anticipate continuing to augment our team with talent from other industries.”
New hires, promotions and departures include:
The additions of Josh Krane and Timeka Drew to expand 4Front’s team in California as 4Front continues development of its City of Commerce production facility and looks to develop a retail footprint, including 4Front’s support of social equity applicants. Both Josh and Timeka were most recently with FIELD, a high-end cannabis extract company in California—Josh as Director of Operations and Timeka as Director of Compliance. The Company also recently added Shanif Sims in an operational leadership role to support the rapid growth of Pure Ratios, 4Front’s San Diego-based wellness brand.
The additions of Seth Gilligan and JT Archer in operations positions at Brightleaf, 4Front’s cultivation and production division. Seth brings extensive experience managing supply chains, including during stints at Amazon and Nordstrom, to improving the management of Brightleaf’s non-cannabis supply chain, and JT brings his infrastructure and complex project management skills to the development of 4Front’s new cultivation and production facilities.
The hiring of two former Northwest Cannabis Solutions (“NWCS”) employees to assist Brightleaf as it expands into new markets. Davis Tea, NWCS’ former CEO, is focusing on leading and supporting the cultivation and manufacturing general managers in Massachusetts and Illinois. Also joining the Brightleaf team is Moisey Fokina, who had previously run operations at NWCS’ Tumwater, Wash., production facility and helped lead construction of Brightleaf’s second-generation cultivation facility in Elma, Wash., which generates yields of >400 grams per sq. ft. Moisey will contribute his expertise to 4Front’s cultivation and production infrastructure projects.
The promotions of Joe Feltham and Mark Passerini to leadership roles supporting the operations at Mission, 4Front’s retail division, and overall cannabis supply chain management across the organization. Joe is a longtime 4Front team member, who previously served as Chief of Staff to 4Front CEO Josh Rosen and Mark is a cannabis industry pioneer, founding Om of Medicine, a medical cannabis dispensary, in Ann Arbor, Mich., in 2010.
In addition, Kris Krane, 4Front’s Co-Founder and President, is taking on the role of President of Mission.
4Front is also announcing the departures of some team members: Glenn Backus, former President of Mission; Leise Rosman, Chief Growth Officer of 4Front; and Dave Croom, former CFO of Brightleaf and originally CFO of Cannex Capital Holdings, Inc.
“Glenn was instrumental in providing vision and structure to our Mission retail operations,” said Mr. Rosen. “As we transition to an increased emphasis on the supply chain and vendor relationships that enable retail execution, I’m pleased that Kris Krane has stepped in to become President of Mission. Kris and Mark Passerini will be spending significant amounts of time in market with our teams at Mission’s retail locations, which are currently spread across seven states.
“Leise has been a key member of the 4Front family, having joined Kris and I not long after we founded the company in 2011. She has been instrumental in establishing 4Front’s platform and credibility within the industry,” said Mr. Rosen.
Mr. Rosen continued, “Dave provided the financial backbone for Cannex. With the recent addition of our new CFO, Brad Kotansky, 4Front’s financial management capabilities are largely being centralized in our Phoenix headquarters.”
“I’d like to thank Glenn, Leise and Dave for their valuable contributions to 4Front,” said Mr. Rosen.
Options Grant
4Front is also announcing that it has granted a total of 1.2 million stock options, on an as-converted-to-subordinate-voting-share basis, to its two recently announced independent board members: Betty Aldworth and Kathi Lentzsch (600,000 to each). On an as-converted basis, these options are being granted with a strike price of $0.80 CAD, consistent with other recent options grants.
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.
The introduction of Marmas and Pebbles branded edibles to the Massachusetts market marks the initial implementation of Cannex’s operational capabilities in a new market (outside Washington State)
Adult-use approval at two Massachusetts facilities anticipated imminently
VANCOUVER, B.C., and PHOENIX, Ariz., October 21, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) announces that, following the closing of its merger with Cannex on July 31, the company has moved quickly to take Cannex’s battle-tested operating capabilities, now part of 4Front’s production and manufacturing division Brightleaf, and apply them to the Massachusetts market.
“To say I am proud of my team is an understatement,” said Leo Gontmakher, 4Front COO. “Taking advantage of our pre-merger planning work, we formally took over 4Front’s production and processing operations in August. By late September, we had introduced Marmas and Pebbles, two of our most successful edibles brands, to the Massachusetts’ medical cannabis market. Most importantly to me, we successfully replicated the low-cost production methods we developed in Washington.
“In addition, we started the first fully supervised harvest based on our improvements to our Worcester, Mass., facility—the processes and genetics are proving to be robust for yield and the initial quality looks great. There is much more work to do, but to see the team coming together and the tangible operational progress gives me confidence in our capabilities to execute on our plans to bring our efficient production of consistent, quality products to new markets.”
“We are executing against a simple strategy: bringing highly efficient and battle-tested operating capabilities to nascent markets,” said Josh Rosen, CEO of 4Front. “In this case, Leo and team were able to quickly implement these capabilities in a new market to achieve stellar initial results.”
Regarding adult-use approval for its facilities in Massachusetts, Rosen said, “We are appreciatively entering what appears to be the ‘final final’ stages of obtaining adult-use permission in our Massachusetts facilities in Georgetown and Worcester. If matters proceed as anticipated, we will be selling into the adult-use market in a matter of weeks, not months.”
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.
Alicia Mandel brings 30+ years of experience in developing scalable talent-development programs for organizations such as American Express, University of Phoenix, and the U.S. Olympic Committee
VANCOUVER, B.C., and PHOENIX, Ariz., October 15, 2019 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) has hired Alicia Mandel as 4Front’s first Chief Human Performance Officer. Her addition to the team furthers 4Front’s commitment to developing high-caliber talent and attracting the best people from within and outside the cannabis industry.
“I’m very excited about welcoming Alicia into the 4Front family,” 4Front CEO Josh Rosen said. “I know executives who have gone through her leadership development program and, after reaching out to her, it quickly became clear we have a shared belief in what developing great talent means. 4Front will benefit immensely from her innovative thinking on what effective leadership looks like and her experience building scalable talent infrastructure for organizations such as Citi and the U.S. Olympic Committee.”
Ms. Mandel comes to 4Front with three decades of corporate training and employee engagement experience. She has held positions at American Express, Apollo Education Group/University of Phoenix, the U.S. Olympic Committee, and Citi, among others. As a consultant, she’s also worked with companies such as Oracle, Adobe, Nike, and Microsoft, on executive coaching, team development, and helping align a company’s people strategy with its business strategy.
“While my consulting business was growing strong, I couldn’t pass up the opportunity to build an industry-leading executive and employee development program at a company that’s blazing a trail in a brand new industry,” Ms. Mandel said. “I look forward to developing 4Front’s leadership capacity and helping build a strong and deep bench of talent, as well as driving an intentional culture that will create an environment where people can succeed as they propel the organization towards its business objectives.”
Alicia Mandel’s Bio
Ms. Mandel spent the first 17 years of her career in New York City working for two large financial organizations and learning “the right way and the wrong way to do things,” she says. She began her career at what was then Citibank, becoming one of the first employees in the bank’s new corporate training department. As Citi’s Manager of Learning and Development, she helped develop the bank’s training capabilities to support talent development across its global footprint. Following Citi, she spent 10 years at American Express in a variety of HR roles across business functions, eventually earning the title of Director of Employee Engagement. Later, the U.S. Olympic Committee hired her to build “Olympic University,” which was an internal and external learning and leadership development program designed to build leadership skills across the committee and all of the sports’ national governing bodies. Having successfully developed that program, she was asked to join the USOC full-time as its Acting Chief Human Resources Officer. She also has experience working for a high-growth startup, spending three years building a scalable talent infrastructure for Asurion, which grew from 500 employees to 5,000 while she was there. More recently, Ms. Mandel served as Chief Learning Officer for Apollo Education Group, the for-profit education company most well-known for the University of Phoenix. She’s also a successful business owner, having co-founded Medius Advisory Group in 2016 to provide corporate clients with leadership training and team development services. Her clients have included Adobe, Microsoft, Nike, and Oracle. Ms. Mandel lives in Phoenix.
Alicia Mandel, 4Front’s Chief Human Performance Officer
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-
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.
Company to participate in Canaccord’s U.S. Cannabis Symposium, NCIA California Cannabis Business Conference, Arcview Investor Forum, IC3, and the Benzinga Cannabis Capital Conference in October
VANCOUVER, British Columbia and PHOENIX, October 2, 2019 — 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) today announced that a number of its executives, including President Kris Krane and Chief Investment Officer Andrew Thut, will attend several industry events during the month of October.
Company executives will participate in the following events:
Canaccord’s U.S. Cannabis Symposium
On Oct. 3, Mr. Thut will give a company presentation at 3:10 p.m. ET at the Sheraton Centre Toronto Hotel in Toronto. You can view the company’s presentation here.
Arcview Investor Forum
On Oct. 3, Mr. Krane will participate in one-on-one meetings at Convene’s One Liberty Plaza location in New York City.
NCIA California Cannabis Business Conference
On Oct. 9, Josh Krane, Senior Director of Business Development in California, will be available to participate in one-on-one meetings at the Long Beach Convention Center in Long Beach, Calif.
Institutional Capital & Cannabis Conference
On Oct. 21, Mr. Thut will participate in a panel on M&A trends in the cannabis industry at 11:15 a.m. ET at Convene’s 117 West 46th St. location in New York City.
Benzinga Cannabis Capital Conference
On Oct. 22-23, Mr. Thut and Mr. Krane will give a company presentation and participate in one-on-one meetings at the Palmer House in Chicago.
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.
Content originally published and Shared from http://perfectbath.com
Are you buying your first whirlpool bathtub? Let us help you narrow down the choices. Start by asking yourself the following questions:
Will it fit in the bathroom? Make sure to measure your bathroom before you even look at a whirlpool, including any space you might gain taking down dividing walls or showers. “Most whirlpools come in three standard sizes,” says Morey. “Five feet, five and a half and six. But you can’t just consider the tub size — they’re all designed to be dropped into a deck, and that will take up more space, with the bare minimum adding at least a half-inch to your measurements on all sides.
“If you think you’d like to hold a lot of stuff like candles and oils near the water, you’ll also need extra space on the deck,” says Morey. “If you’re over six feet tall, you may want to forfeit deck space for more tub room.” Source:HGTV
Is your current heating system enough? If you choose to heat your whirlpool with your existing in-home heating system, make sure it can handle the amount of water needed to fill the whirlpool. With an external system, the water in the tub will get cool quickly due to the circulating jets, so you will need to frequently refill the tub with hot water. A 50 gallon quick recovery system should be sufficient.
The other option is a self-heating system. A self-heating whirlpool comes with its own internal heating system that circulates the tub water and reheats when necessary. This is a good energy-saving option and the best way to keep your water temperature consistent. Source:DoItYourself
Which type of jet should you pick? Choose between water jets or air jets. Water-jet whirlpool tubs force water through jets, giving more pressure and a forceful massage. In air-jet whirlpool tubs, air is forced through tiny holes for a lighter massage. A combination whirlpool tub uses both, but will be more expensive and may use more energy.
One drawback of water-jet and combination tubs is that you can’t use bath salts or oils, as these will damage the pumping mechanism.
Another water-jet and combination tub drawback is that some water stays in the jets, and mold can develop if they’re not regularly cleaned out. Source:WikiHow
We can help you figure out which brand or type of whirlpool tub will work best for your needs. Find out more when you call us today!
Listen to Locked On NBA episodes free, on demand. Wes Goldberg and The Washington Post’s Ben Golliver discuss the Milwaukee Bucks sweeping the Detroit Pistons, the Utah Jazz getting a big win to avoid a sweep by the Houston Rockets, and what’s next for the Phoenix Suns after firing head coach Igor Kokoskov.Learn more about your ad choices. Visit megaphone.fm/adchoices. The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. For free …
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Listen to Locked On Jazz episodes free, on demand. Utah Jazz pull off the Game 4 win. David Locke and Ron Boone break it down on tonight’s edition on Postcast Learn more about your ad choices. Visit megaphone.fm/adchoices. The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. For free. Bonus and ad-free content available with Stitcher Premium.
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With host Nate Duncan (@NateDuncanNBA). And if you like this show, please support Nate and Danny at Patreon.com/DuncanLeroux. Merchandise available at NateDuncanNBA.com …
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Listen to Locked On Blazers episodes free, on demand. Mike breaks down the key numbers behind the Blazers 3-1 lead over OKC and what those stats mean heading into Game 5Learn more about your ad choices. Visit megaphone.fm/adchoices. The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. For free. Bonus and ad-free content available with Stitcher Premium.
Listen to Locked On Celtics with Rainin’ J’s episodes free, on demand. The Athletic’s Jay King and Sam “Jam” Packard look back on the Pacers series, look ahead to the Bucks, hand out tacos and hash out the details of their upcoming 1-on-1 matchup.Learn more about your ad choices. Visit megaphone.fm/adchoices. The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. For free. Bonus and ad-free content available with Stitcher Premium.
In the latest Locked on Sixers podcast, Keith Pompey, Marc Narducci and Mike Sielski talk about 76ers center Joel Embiid’s flagrant-foul situation.. They also discuss the importance of the Sixers closing out their playoff series with the Brooklyn Nets in Tuesday’s Game 5. And the trio concludes the podcast by commenting on the roster-upgrading trades by Sixers general manager Elton Brand. The moves are definitely benefiting the Sixers against the Nets.
Listen to Jalen & Jacoby episodes free, on demand. Jacoby is joined Kendrick Perkins and Amin Elhassan talking the Blazers dominate backcourt, Harden’s epic flop, Clippers free agency outlook, Sean Marks’ BOSS MOVE and more!! The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. For free. Bonus and ad-free content available with Stitcher Premium.
Listen to The Starters episodes free, on demand. On Mon.’s ep. of The Starters, the guys debate the NBA weekend’s most impressive road win, whether the Sixers/Nets ejections were warranted, and which 3-0 series ends tonight. That, plus the Celtics’ sweep, Westbrook’s “next question” routine, ex-Wolves coach Tom Thibodeau in studio, new Weekend Whoopsies, and so much more. via Knit …
On this episode of The HoopsHype Podcast, Alex Kennedy is joined by The Oklahoman’s Berry Tramel. Since January, Russell Westbrook has refused to answer Tramel’s questions, yet he continues to ask the star point guard post-game questions anyway …
Jacoby is joined Kendrick Perkins and Amin Elhassan talking the Blazers dominate backcourt, Harden’s epic flop, Clippers free agency outlook, Sean Marks’ BOSS MOVE and more!!
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On this edition of RT, the Sacramento Kings duo Doug & De’Aaron are joined by Kings G Buddy Hield. The topics are endless, from how they got their nicknames, Kobe stories, fatherhood and the benefits it has had on Buddy on the court. How De’Aaron is turning into a locker room leader – whose college hoops conference was better & a whole lot more.
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