Do you notice water backing up from the toilet or the sink? If you constantly hear gurgling sounds when using bathroom fixtures, it may be a sign that you have a drainage problem. Here are the best solutions you could try:
Pour in Some Bacteria Whether it’s hair, grease or food, some sort of organic matter causes most drain clogs. Fortunately, there’s a type of bacteria that breaks down organic matter in your drains. Add the bacteria to your drains and it will consume organic matter which helps prevent clogs. You can buy drain-cleaning bacteria in granular or liquid form.
Bacterial drain cleaner is noncorrosive so it won’t harm pipes, and the bacteria won’t interfere with the bacteria in your septic system. Follow the instructions on the package. Add the bacteria when drains won’t be used, like right before everybody goes to bed, to allow it time to work. Drain and trap cleaner is available at home centers and hardware stores. A package should last several months, depending on how many drains you treat. Source:FamilyHandyman
Use a Hose or Power Washer You may need more force to clear an especially stubborn main drain clog, and you should apply it through one of the drain cleanout fittings. You should have one or two of these in the basement and more outside. Open one of them by unscrewing the cap with a wrench and have a bucket handy to catch water. You’ll also want to wear protective clothing, goggles and gloves because the water may be under pressure and could spray when you open the cleanout.
If water does spill out, you’re on the right track because it means the clog is downstream of the fitting. Insert a hose with a high-pressure nozzle or preferably a power-washer wand with a 0° (red) or 15° (green) tip. Place the bucket under the cleanout, point the nozzle downstream, pull the trigger and stand back. Source:Hunker
Get Help from Professionals Don’t run the water or flush the toilet! If you don’t add water to your drain system, you can’t make the problem worse (that is, if the clog is in your line and not the city’s main; see below). As an added precaution, you can shut off the main water supply to the house so that no one runs the water by accident. Tell everyone in the house not to use water, then call a plumber or drain specialist to have the drain cleared. These professionals have special equipment, including motorized augers, to quickly and effectively remove large clogs in the main sewer drains. Source:TheSpruce
Don’t wait for your drainage problem to get worse during the holiday season when everyone will be at home. Call us to book an appointment today!
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.
Planning to repair the roof on your own to save some money? Here are useful tips you should remember before starting your weekend project.
Check the weather Fussing to try and find a leak as soon as it happens is something that could put you in the hospital. Meddling on a roof while it’s raining or covered with ice and snow isn’t the ideal way to find a leak. Trying to temporarily fix a leak could be highly dangerous. If you want to do it right, there is no quick-fix. Just take your time, and be very patient and careful to wait for Mother Nature to give you the green light. Source:DIYNetwork
Get a gutter guard One way to keep your ladder safe and steady and to keep your gutters protected as you’re up on the roof is to use a gutter-guard. The gutter-guard basically consists of any scrap piece of wood or plywood that you fasten to the roof deck, put a notch in it, lean the ladder legs against the notch and tie in place. You can also put some shingle bundles against the feet of the ladder to help keep it steady and make sure it doesn’t slide.
Create a toe hold This tip is also particularly good if you’re working on a steeply pitched roof. In order to help keep your balance and prevent slippage, you can install your own temporary toe holds to help your feet keep their grip. Simply take several wood cleats measuring 2 by 4 inches (you can also use adjustable roof jacks for this) and nail them to the roof deck. When you’re done with your work, simply remove them. Source:DoItYourself
Find someone to help you Let someone else know when you’ll be up on the roof – someone who will be with you at home that day, or else a neighbor who can keep an eye on you. In fact, it’s best if at least two people work together on even a minor roof job. Someone needs to be there to help or call for help in the case of an emergency. Source:YourAmazingPlaces
If you’re unsure how to handle roof repairs, it’s better to leave it to the professionals. Our roofing crew have the right safety gear to guarantee that no accidents will happen. Book an appointment today!
Imagine this: you’re trying to stay warm by hanging in front of the crackling fire with a cup of your favorite drink, hand-knitted blanket wrapped around you. All of a sudden, fire broke! Way to ruin the moment, right? Prioritize safety and have peace of mind by following these tips:
Avoid creosote buildup Creosote is a chemical mass of carbon formed when wood, tar or fossil fuels are burned. Creosote can linger in chimneys and you would have no idea from the outside. When creosote is not removed, can become a thick coating of debris in the flue and chimney. Most chimney fires start in the smoke chamber/smoke shelf area so it’s important to clean those areas. Creosote ignites at 451 degrees Fahrenheit and once it starts burning, it expands like foam sealant and can build to more than 2,000 degrees Fahrenheit in less than a minute. Source:FamilyHandyman
Don’t remove ashes right away Fireplace coals can remain hot enough to start a fire for up to three days, so always wait at least that long before removing the ashes. At that point, close the damper to prevent cold air in the flue from stirring up excess dust while you’re removing the ashes. Be sure to wear a dust mask and open a window in the same room as the fireplace to prevent negative air pressure. Use a shovel to scoop the ashes into a metal container. Store the container far from combustible materials and surfaces and wood floors. Source:HGTV
Install a safety screen Keep a fireplace screen in front of the fireplace when in use. A fireplace screen should be at least 3 feet (0.91 m) high, and most common models are be made of fine, crossed wire on a flexible, three-part frame. This screen will catch any live sparks that leap out of the fire, and will also prevent larger logs from falling out.[6]
A screen is a necessity if you have small children or animals in the house, as they could easily run or stumble into an open fire. If there are more durable models of fireplace grate available at your local hardware store, it may be wise to purchase a heavy grate in addition to (or instead of) a lighter screen. Source:WikiHow
Let us take a look at your home’s chimney to see whether there are damages that need repair. Book an appointment today!
Decision making can be a challenge in any strata corporation; especially when investing significant funds into maintenance such as an exterior re-painting project. Here is some friendly advice to get started and provide your council with a solid foundation for your planning.
Establish a Scope of Work
A proper scope of work means determining what needs to be painted and what does not. Having clear consensus from council before calling contractors will save time and money. There are painting inspectors who can help you decide what to re-paint and which products to use (search online for Painting Inspectors in your area or call us for info on who we see in the market). If your strata decides to establish the scope of work on your own, the first step is to review your existing surfaces and note any areas of concern. Use the following checklist to help ensure you cover all the areas.
One way we’ve found helpful to assess a property is to print out an overhead from Google Maps. Then during a comprehensive 1- 2 hour walk around the property, make notes on the sheet about the affected areas.
Walk-through Checklist
Here is a list of common surface types to consider for re-painting and possible repair:
wood siding
composite siding
vinyl siding
stucco
concrete
brick
soffits
fascia & trim
wood windows
decks/patios
railings
metal surfaces
light standards
pillars
shakes
doors/frames
garage doors
metal Cladding
privacy fencing
perimeter fencing
decorative features
other
Other considerations are:
existing leaks
balcony membranes
window perimeters
sealant repairs
wood trims
metal flashings
attachments
roof membrane
Prepare a budget and plan to raise funds
It is always best practice to start planning early and give yourselves ample time to make your decisions. In some cases, this means 1-2 years before the project, in other cases 6 months can be enough time.
If you’ve taken the time to get council consensus on the scope of work, then getting a budget quote will be fairly simple. It will also be more useful because it will be an accurate amount to use for planning and approval. Remdal often provides budget quotations for projects.If you need assistance with a budget quote, we have estimators available to help you.
And now that you have a better idea of the amount of money required, your focus can turn to raising funds though your Contingency Reserve fund (3/4 vote), Special Levy (3/4 vote) or from a Depreciation Report (majority vote). This is a choice that varies from one strata to another depending on many factors.
Next steps
Over the following months you will want to give your project the best opportunity for success, but taking some additional steps including:
building a strong business case for owners;
assessing and choosing your colours;
inviting qualified painting contractors;
evaluating and selecting the best proposal;
identifying best practices to help the job go smoothly;
the science of finishing well.
We’ll cover these items in upcoming blogs.
Looking for assistance with a project, a second opinion, or a budget quote? Contact us here:
Gutters are a vital part of the house. They keep water away from your house’s roof, siding, and even basement, thus avoiding structural damage and flooding. There are many different types of material you can choose from, but today, we’ll be focusing on copper. Weigh its pros and cons below:
PROS Longer life-span Copper is more durable than many other materials. Most copper gutters last 100 years or more. After a while, the metal produces a greenish layer called verdigris, which is often used as an industrial fungicide that helps the gutter last longer since roots won’t set in to cause damage. Verdigris is what gives the Statue of Liberty its distinctive color.
Visual appeal Copper has a reputation as a beautiful material that lends charm and elegance to any structure. It fits especially well on older buildings, matching the materials and styles used. It also helps a home stand out among others in the neighborhood, adding curb appeal.
Structurally sound Because of copper’s durability, items manufactured with copper are structurally sound. For example, most rain gutters require joints so that when the material expands and contracts in fluctuating temperatures, no cracks form. Copper, however, doesn’t require these joints. The whole gutter can be installed as one piece, which makes it stronger. Source:Nearsay
CONS Expensive The single biggest con of choosing copper gutters for any house is the price. With prices reaching nearly $25 per linear foot for just the gutters alone, it is easy to see why copper gutters have not taken off in popularity yet. Source:Improvenet
Difficult to install It’s inadvisable to install the copper guttering yourself. Why? Because cuts or adjustments to joints may be necessary in order to complete the process. And you might not have specialist tools or expertise to get the job done properly. Source:Medium
Want to install copper gutter on your home? We’ll be more than happy to help. Call us for a free estimate!
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.
Even the sturdiest window screen may eventually get damaged due to extreme temperature and daily wear-and-tear. To avoid further damage, make sure you repair it right away using these tips:
Patching a hole on the screen To patch metal screening, cut a square or rectangle about 1 inch bigger all around than hole. Pull out the wires on all four sides to make a wire fringe about 1/2 inch deep around the patch. Bend the fringe wires down sharply at a right angle; use a wood block to make a clean bend on each side of the patch. When the fringe wires are evenly bent, set the patch over the hole in the screen, and press to insert the bent fringe wires through the screening around the hole. The patch should be flat against the screen, covering the hole completely. Fold fringe wires down flat toward the patch’s center on the other side of the screen. Then stitch around the entire patch with a needle and nylon thread or with fine wire. Source:Home.HowStuffWorks
Replacing the whole screen For especially large holes and damaged screens, you don’t want to mess around with trying to put patches on. Just replace the whole screen, assuming the frame is in good shape. Start by measuring the frame carefully so you know which width of screen material you should buy, and take note of the material used to make the frame. If it’s metal, you’ll need to buy a screen in a matching metal to prevent reactions, or consider using nylon. Wooden frames will take any kind of screen, but metal screens can stain. Source:Networx
Re-attach the molding Nail the molding back into place with small nails or brads, and countersink. Trim excess screening with a utility knife. Fill nail holes with paintable wood filler, and paint. Source:MarthaStewart
Let us help you deal with home repairs so you don’t have to spend as much time and effort doing it on your own! Call us today to book an appointment!
Fall is almost over, and the cold season will soon kick in! Why not prepare your home for the extreme temperatures as early as now? Here are three things you can do to keep your home safe and damage-free these upcoming months:
Clear the gutters
Fall can be one of the most pleasant weather seasons, but that doesn’t mean you can rest on your leaf piles. You know to rake your lawn, but you also have to clear your gutters of them. This’ll help keep water from freezing inside and splitting them when temps dip below freezing. Adding mesh or leaf guards can also solve the problem. While you’re up there, make sure your gutters are pitched at the right angle—between 1/16 and ⅛ inch per foot—to direct water to the downspout, and away from your home’s roof or foundation. Source:MentalFloss
Have an easy access to your main water shut off
If a bunch of junk is blocking easy access to your main water shut valve off, rearrange your basement or garage so that it will be easily accessible in the event of a plumbing emergency. Then, make sure your shut off valve is in good working order. Cranking it all the way to the right should shut off all water to the house. If it’s rusted open or only closes partially, replace the valve immediately.
Go a step further, and make sure everyone in your house knows where the shut off valve is located and how to use it to turn off the water. Source:TheSpruce
Keep the attic well-ventilated In addition to clogged gutters, a warm attic can contribute to ice dam damage by causing snow to melt in the middle of your roof and drain toward the gutters where it may refreeze. To keep your attic sufficiently cool, make sure it’s properly ventilated and seal any cracks or holes in your ceiling and around fixtures so that household heat doesn’t seep into the attic. It’s also a good idea to insulate the attic floor to keep heat inside your home and outside of the attic. Source:AHS
Let us check your roof and gutters before the snow starts falling. Call us!
Can you smell the pumpkin spice in the air? Autumn is here, and we’re all for it! Before you start redecorating your home, tackle the following important tasks first so you can spend the rest of the cold season snuggled on your sofa while drinking a hot cup of your favourite drink.
Clear the chimney Chimneys are an especially important cleaning task to check off your to-do list, as a dirty chimney is a potential fire hazard. Schedule a professional chimney sweep to clear out any debris, rodents or built-up creosote. Source:SheKnows
Examine the heating system
Do a survey of your home’s heating vents to make sure they’re not blocked or covered by furniture, carpeting, or curtains. Dust vents and clean all filters. Make an appointment for an annual heating system check-up. Source:RD
Inspect the gutters No one loves this job, but we all need to do it annually. A few hours of work can prevent big problems later on.
While you’re up on that ladder, visually inspect your roof for damaged shingles, flashing or vents. Source:Zillow
Switch to heavier curtains New curtains don’t just give your room an instant update; they can also help keep your home warmer during the cooler months! Just be sure to keep them open on sunny days. Source:PopSugar
Add exterior lights Fall and winter means less daylight. So if you don’t have lights outside of your home and driveway yet, installing some is a great way to keep your home just a little safer. Lights around the perimter of your driveway can mean fewer accidents. And lights along your pathway can mean fewer falls. Also, because outdoor lights are typically left on for long periods of time, buying LED and energy saver bulbs will, as you may have inferred, save energy. Source:Weather
Keep outdoor faucets inside The faucets you use outside in the summer to wash your car, soak your garden and hose down your kids are susceptible to freezing. If proper care is not taken to shut-off and drain these lines before winter, it can lead to pipes and faucets bursting or cracking and can create a huge, potentially expensive, disaster. Source:GlobalNews
Don’t have the right tools to safely check your chimney, roof, and gutters? We’ve got you covered! Call us today to get a free estimate!
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.
Decision making can be a challenge in any strata corporation; especially when investing significant funds into maintenance such as an exterior re-painting project. Here is some friendly advice to get started and provide your council with a solid foundation for your planning.
a property is to print out an overhead from Google Maps. Then during a comprehensive 1- 2 hour walk around the property, make notes on the sheet about the affected areas.
