Ignoring a leaky gutter can cause damage to your home’s exteriors. If you think you have this problem at home, take a read below to see what you can do to solve it.
Determine the cause of leaking If rushing rainwater hits a blockage while running through gutters, it’s going to surge up and over that blockage, usually spilling over the sides of the gutter. Once the storm is over, grab your ladder and a pair of sturdy work gloves, and take a look inside the rain gutters. If they are full of sodden leaves and smelly muck, it’s likely that your problem isn’t so much a leaking gutter as a spillover. Using a small trowel, a gutter scoop, or your gloved hands, clear away as much debris as possible, dropping it into a bucket for disposal. Then use a power washer or the strongest blast from your garden hose to clear away any remaining grunge. Once gutters are clean, use your garden hose to fill them up with water, and watch for leaks. If water runs through to the downspout without a hitch, you’ve solved the problem. Source:BobVila
Seal the seams Every connection on a metal gutter needs to be sealed: end caps, splices, drop outlets and miters. Buy a product that’s specifically formulated to seal gutter seams. Seam sealer can handle submersion for long periods of time. It’s also resistant to light, which it will get plenty of.
Most important, high-quality seam sealer is runny, so it can penetrate down into the seam for a durable, long-lasting connection. Most products refer to this property as “self-leveling.” And the runnier the better, so if you’re applying it on a cold day, keep the seam sealer somewhere warm so it stays fluid.
Try to remove as much of the old sealer as you can, and make sure the area you’re sealing is completely dry. Home centers usually stock seam sealer near the gutter parts. Source:FamilyHandyman
Replace large damaged areas If you have a large area to patch that’s damaged or rusted, your best solution may be to cut that section of guttering away with a hacksaw. Then cut a new section slightly larger than the one you removed and adhere it two both sides of the old gutter using roofing cement to hold and seal it. Source:DoItYourself
Gutter problems often require you to go up a ladder with the right tools and expertise. Don’t compromise your safety. Call us, and we’ll take care of the job for you.
With all the things that happened this year, it seems like time flew faster than ever. Before we know it, it’s already almost winter. And this means it’s time to start prepping for the cold weather. Take a close look at the following tips to have a safe and cozy way to warm up at home:
Let a certified professional conduct an annual inspection A damaged chimney can spread fire to the surrounding areas in your home. A dirty chimney with a lot of creosote and soot buildup is dangerous because these materials burn at very high temperatures, spreading the fire. It is therefore important to have your chimney and fireplace checked annually. For best results, use the services of a certified chimney sweep. Annual cleaning of the chimney will ensure better passage for the smoke and exhaust gases, in addition to regular removal of dangerous creosote. Source:DoItYourself
Do a test run Test out the function of your fireplace by lighting a few small pieces of seasoned wood, lit from the top down. If smoke doesn’t exit vertically from the fireplace into the chimney, but enters the room, immediately troubleshoot and correct any problems. These can include creosote/soot build-up, other debris in the chimney like bird or animal nests, a damper that is closed or partially closed, or wet wood that isn’t burning well. Source:DIYNetwork
Use the right burning techniques
Low-temperature, slow-burning fires, particularly those left to smolder overnight, produce more smoke and leave behind more unburned combustible material. When that hardens into creosote on the chimney walls, there’s an increased risk of chimney fires. Hot, fast-burning fires, on the other hand, leave far less smoke, vapor, and unburned wood behind, so little to no creosote forms.
The best way to burn a clean fire is to use the top-down burn method: Place the large logs vertically at the bottom of the fireplace or wood stove (with the bottoms of the logs facing you), add four to five horizontal layers of kindling, then top with tinder and light. Source:BobVila
Have a relaxing cup of coffee as we take care of any chimney problems for you. Call us today for a free estimate!
Stay true to your annual Halloween traditions even during this pandemic by celebrating safely at home with these easy DIY projects:
The sorceress’ downfall The wicked witch may have fallen, but your porch will come alive with this easy-to-make decor.
1. Cut two pool noodles to leg size (about 30 inches tall). 2. To make knees, draw a 3-inch half-circle in middle of each leg and cut the shape out. Pull edges together and secure with duct tape. 3. Tape quilt batting around pool noodles, adding extra layers to hip and thigh areas and an almond shape where it bends to complete knee. Use more tape to smooth out form. 4. Pull tights over legs. Stuff witch boots with batting and secure to legs by tying laces tightly. 5. To make sign, hot-glue six paint stirrers together to form a jagged rectangle, then hot-glue another stirrer to the back as a signpost. Paint on a phrase like, “Poison Apples for Sale.” Source:WomansDay
Say your message with jack o’ lanterns Spell out your greeting in mini pumpkins gathered on your porch.
Step 1: Pencil letters on hollowed pumpkins (carve out the opening from the bottom). Step 2: Using a drill with a half-inch bit, bore holes to form each letter. Step 3: Hang strings of Christmas-tree lights, gathered in small bunches, to illuminate each pumpkin (unscrew bulbs where the string descends to the next row). Source:CountryLiving
Let spirits roam around Cheesecloth is a crucial material for any DIY Halloween toolkit. Its loose, gauzy weave is reminiscent of cobwebs and ancient, forgotten places. You can drape it anywhere — over a mantel, lampshades, a dresser, a chair, or a window — to give your home an instant haunted house feel. It’s also the ideal material for making ghost decorations. A few ideas for cheesecloth ghosts include:
– Floating Ghosts. To give it a freestanding ghostly shape, soak cheesecloth in liquid fabric starch and drape it over a form shaped to look like a ghost’s body. Let dry, remove the form, and you’ll have a ghost that “floats” on its own, as shown on Home Talk. –Life-Size Halloween Ghost. Use a similar method to make a life-size levitating ghost for your outdoor decor. Make a larger frame, this time using wooden stakes and multiple Styrofoam balls. Then follow the same basic method as for the floating ghosts. Get the full instructions on HGTV. –Ghostly Outdoor Draperies. Inexpensive cheesecloth makes the perfect budget material for ghostly draperies. Hang yards of cloth from lightweight poplar boards you can staple to your porch roof like they did on HGTV. Source:MoneyCrashers
Want to improve your home’s curb appeal so that it would look awesome even without fancy decoration? We’d love to help! Call us today to get a free estimate.
PHOENIX, October 27, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) announced today that it has entered into definitive purchase and sale agreements with an affiliate of Innovative Industrial Properties, Inc., (IIPR) providing for the sale and leaseback of 4Front’s cultivation and production facilities in Tumwater, WA and Georgetown, MA (the “Transaction”).
The all cash sale price of US$30 million will be used by the Company to pay down the outstanding senior secured debt obligation to affiliates of Gotham Green Partners, and for other general corporate purposes. The Transaction is subject to various closing conditions, including standard property/title inspections and appraisals and is scheduled to close in early December.
“Entering this sale-leaseback transaction marks a significant milestone in our stated strategy to further strengthen our balance sheet, providing us greater flexibility to fund our growth initiatives. The successful closing of this transaction positions us well as we enter 2021, with our laser focus on profitable growth within our core markets of Massachusetts, Illinois, California, Washington and Michigan,” said Leo Gontmakher, CEO of 4Front.
In accordance with the terms of the transaction, 4Front will occupy the Tumwater, WA and Georgetown, MA facilities pursuant to 20-year lease agreements, with two 5-year extensions exercisable at 4Front’s discretion. 4Front anticipates no disruption to its operations as a result of the Transaction.
The Company determined that an immediate announcement was appropriate given the material nature of the Transaction, and the Company’s binding nature of its obligations under the purchase and sale agreements.
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.
4Front Investor Contacts
Andrew Thut, Chief Investment Officer
IR@4frontventures.com
602-633-3067
Phil Carlson / Elizabeth Barker
4FrontIR@kcsa.com
212-896-1233 / 212-896-1203
4Front Media Contacts
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.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, statements regarding when or if transactions will close or if/when required conditions to closing are attained, the impact of the transactions on the business of 4Front and other statements regarding future developments of the business. The closing of the transactions described in this news release is subject to customary conditions and there can be no guarantee that such transactions will close.
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 satisfying closing conditions, [obtaining regulatory approvals]; and engagement 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.
Deciding on what type of roofing materials to use for your home can be quite daunting considering how many options are out there in the market. If you’re looking for something that’s more budget-friendly, then this is something you should see.
What is Roll Roofing? Roll roofing is a composite sheet of roofing material manufactured into a roll so it can be laid on the roof in strips that overlap each other. The roofing material used to make the roll can vary depending on the type one desires for their roof. Common materials used to make roll roofing sheets are similar to what’s found in most traditional roofing shingles and can include: – Asphalt – Fiberglass – Asphalt-saturated organic felt – Asphalt-coated fiberglass Source:LoveToKnow
Advantages There are a lot of advantages or pros to installing a roll roof. The biggest one is the cost advantage compared to a clay roof or traditional asphalt-shingle roof. The cost of the rolls is less than half of what is needed for a shingled roof. With this in mind, homeowners can see a true cost savings for their overall home-improvement budget.
Rolled roofing is very easy to install, and there is minimal expertise needed to finish the job. Heavy-duty saws or nail guns don’t need to be used, and without a slope, there isn’t a huge risk of falling as with a traditional roofing job.
Roll roofing offers a great deal of color options to match with existing home colors, which allows for a finished look that is professional and adds curb appeal. Source:Improvenet
Disadvantages – Rolled roofing is less durable than shingles. One reason why shingles work so well: the network of multiple, loosely interlocking shingles expand and contract without stressing individual shingles. By contrast, rolled roofing is like having one big shingle. This shingle cannot respond to changes in the building structure without tearing.
– Rolled roofing has a short lifespan of between five and eight years. Compare this to a lifespan of about 20 years or even more for composite shingles. Rolled roofing tends to lose its grains and develop bald spots after only a few years of use. Also, one of the benefits of roofing with many hundreds of small units (shingles) is that they can move and shift as the house moves and shifts. Rolled roof’s larger sections do not move as readily as the home expands and contracts.
– You can expect extremely poor resale value on residences that use this type of material. Few home buyers would consider rolled roofing to be anything more than a temporary, stop-gap roofing solution. Source:TheSpruce
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PHOENIX, AZ – October 20, 2020 – 4Front Ventures Corp. (“4Front” or the “Company”) (CSE:FFNT) (OTCQX:FFNTF) is pleased to announce that it has entered into an agreement with Beacon Securities Limited (“Beacon” or the “Lead Underwriter”), on behalf of a syndicate of underwriters (together with the Lead Underwriter, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 21,430,000 units (the “Units”) in the capital of the Company at a price of C$0.70 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of C$15,001,000 (the “Offering”). (All figures are in Canadian dollars unless otherwise stated).
Each Unit shall consist of one Class A subordinate voting share (a “Unit Share”) in the capital of the Company and one-half (1/2) of one Class A subordinate voting share purchase warrant (each whole warrant, a “Warrant”) of the Company. Each whole Warrant shall entitle the holder thereof to acquire one Class A subordinate share of the Company (a “Warrant Share”) at an exercise price per Warrant Share of C$0.90 for a period of 24 months from the Closing Date (as defined below).
The closing of the Offering is expected to occur on or about November 12, 2020 (the “Closing Date”) and is subject to the completion of formal documentation and receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange. The net proceeds from the Offering will be used for working capital and general corporate purposes.
The Company has granted the Underwriters an option (the “Over-Allotment Option”), exercisable, in whole or in part, by Beacon, on behalf of the Underwriters, giving notice to the Company at any time and from time to time up to 30 days following the Closing Date, to purchase, or to find substituted purchasers for, up to an additional number of Units equal to 15% of the number of Units sold pursuant to the Offering at the Offering Price to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option shall be exercisable for Units, Unit Shares or Warrants (or any combination thereof).
The Units to be issued under the Offering will be offered by way of a short form prospectus to be filed in each of the Provinces of Canada, other than Quebec, and by private placement to eligible purchasers resident in jurisdictions other than Canada that are mutually agreed by the Company and Beacon, provided that no prospectus filing or comparable obligation arises and the Company does not therefore become subject to continuous disclosure obligations in such jurisdiction.
The Units, Shares and Warrants being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements. The Units may be offered in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the U.S. Securities Act) pursuant to exemptions from the registration requirements under rule 144A of the U.S. Securities Act. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost, quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.
4Front Investor Contacts
Andrew Thut, Chief Investment Officer
IR@4frontventures.com
602-633-3067
Phil Carlson / Elizabeth Barker
4FrontIR@kcsa.com
212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
Cautionary Note Regarding Forward-Looking Information Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, the proposed Closing Date of the Offering, the listing of 4Front Ventures’ securities on the CSE, and other statements regarding future developments of the business and the Offering. The closing of the Offering is subject to customary conditions, including the negotiation and filing of customary documentation, and there can be no guarantee that the Offering will close.
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 (including from the CSE and securities regulatory bodies); 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.
We believe you never stop learning, which means our training never stops.
Recently our Growth & Training manager, Nestor, put 2 skilled foremen, 8 employees, and one older house together to give valuable training. We specialize in managed properties, so work on this single family home was an exception for training purposes. Nestor S and Jordan provided key skills training for proper surface preparation, priming, and painting. The challenges of COVID-19 and work scheduling delayed this training opportunity until fall.
Jordan brought his focus on detailsto the training, showing how small improvements like properly holding a brush helps create a clean line between soffits and siding, what’s known as ‘cutting in’. Painting paneled entry doors is a unique skill that takes patience and learning the right order to paint each component.
Using our know-show-do training methodeach employee had a chance to hear how to use a sprayer safely, see Nestor S spray a section, and then try their hand at spraying the siding of the house. With Nestor’s feedback, each one gained confidence and the first level of competence.
As an added bonus, we were able to provide the work at no charge, with valuable donations from Cloverdale Paint and Dulux Paints. And a shout out to Tony Orantes for many hours of hard work to help make this happen.
Do you feel like it’s already past time to replace the shingles on your home’s roof? Here are some necessary precautions and tips to consider before you go up there:
Assess the damage Unless you’re seeing water damage inside your house, it can be tough to tell when you need to replace your roof’s shingles. There are, however, a few tell-tale signs to look out for.
Signs It’s Time to Replace Your Roof Shingles: – The edges of shingles are starting to curl up. – Moss or algae are building up on the roof’s surface. – Asphalt granules from shingles are in your gutters. – Your roof is more than 20 years old. Source:BudgetDumpster
Bring the right equipment Before you set the day to remove the shingles from your roof, contact a local equipment rental company for a large dumpster for the shingles. A square-edged spade or roofing shovel are ideal tools for getting underneath the shingles and loosening the roofing nails from the wood. Purchase sheets of plywood to place over the windows below your roof to prevent any debris from shattering them. Two or more bar magnets will be needed so that you can easily gather the nails that will fall to the ground. It will be difficult to see the nails in the grass that surrounds your home. Source:DoItYourself
Wait for cool weather Asphalt and asphalt sealant will heat up in hot weather, making it moldable and much more difficult to remove. It’s a lot easier to remove shingles that are cooled down and slightly more brittle than the moldable, so do the work of removing them first thing in the morning, before the sun has beaten down upon them considerably.
– Wet shingles to cool them down before removal, if you must work in the heat. Wetting them down with a small amount of water will help them to tighten and firm up, making them much easier to remove, if necessary. Source:WikiHow
Before taking on a roofing project, make sure you’re 100% safe by having the right experience and tools. Or if you want, you can just leave the task to us so you can sit back and relax as we fix any roofing problems for you. Call us today!
Have you heard about foam roofing and its outstanding insulation properties before? If you haven’t yet, this is the perfect time to do so as it might be exactly what you need to add more barrier between you and extreme temperatures.
What is it? Polyurethane foam is a liquid that is applied over existing roofs to create and expand into a foam layer. It is incredibly helpful for asphalt roofing shingles or metal panel roofs to create a layer of insulation and make your home more energy efficient. There are quite a few roof shingle types that can be installed with foam roofing. Source:Modernize
Different types Cool roof coatings fall under the class of elastomeric coatings. These coatings protect the foam underneath and provide a painting surface. This creates an additional waterproof membrane that reduces heat infiltration on the roof. A cool roof coating may require several weeks of drying for additional layers of foam. The elastomeric coating also reduces the UV radiation from the sun that can cause foam to oxidize over time. All of these coatings can be applied at the same time as well.
Installation of a foam roof will require substrate preparation, coating and sealing. A foam roof cannot be applied directly without conditioning the substrate below. A clean, dry surface is prepared for contact, a process that includes the removal of any existing roofing material. The entire surface is primed with an adherence polymer to increase the adhesion of the foam product to the roof deck. This priming also prevents overspray from foam during the curing phase. Source:Improvenet
Advantages and disadvantages Spray foam roofing systems have many advantages, such as being more energy-efficient than conventional asphalt or metal panel roofs and creating less of a carbon footprint. However, we should also take into account some drawbacks when installing a spray foam roof on your home or property.
Pros
Cons
Can be used in any climate
Lasts over 50 years
Eco-friendly
Lightweight
Seamless
Thermal insulation
Waterproof
Easy to install and maintain
Causes minimal disruption for homeowner
Requires professional installation
Precision is imperative during installation
Fumes may be toxic
More expensive than other roofing options
Must be installed in dry, warm weather
Contact with foam could cause sensitivity or allergy
Do you want to have foam roofing installed at home? We’ll be more than happy to assist you in making your place cozier. Call us today to get a free estimate!
North Vancouver Mid-Rise Tower (updated with After photos)
The Remdal team worked hard this summer helping this North Vancouver / Lonsdale area strata complete their building exterior refresh and repair. The previous post showed many of the photos from early in the project. Here we showcase several significant before and after photos.
It’s amazing how quickly the outside of a building can change. The owners can now enjoy their refreshed and repaired exterior completed by one of our longest serving Restoration crews. Great work by everyone involved: the strata owners & council; the property manager; the building engineering company; and of course, the on-site Remdal crew and project managers.
One of the other challenges faced by the strata council was balcony repair. The solution here was installing a raised tile system over top of the renewed balcony membrane. The water still finds its way off the balcony but the tiles provide a cleaner, higher end look for the owners.
The council also provided owners with various colour schemes to choose from. You can see below how much more bright and clean the alley way entrance and ground level parking looks afterwards.
From July to October, this building underwent a dramatic transition rejuvenating and refreshing this property for many years to come.
Construction Commences on Calumet City, Illinois Mission Dispensary
Kris Krane Appointed to the Adult Use Cannabis Health Advisory Committee by Illinois Governor Pritzker
PHOENIX September 24, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) continues to focus its efforts in the Illinois market and is pleased to announce the start of construction on a new Mission Dispensary in Calumet City, Illinois. The Company is also announcing the appointment of President Kris Krane to the Illinois Adult Use Cannabis Health Advisory Committee by Illinois Governor Pritzker.
Mission Calumet City
Construction commenced at the beginning of September on the new Mission Calumet City dispensary that will serve both adult-use customers and medicinal patients. Located at 1330 Torrence Avenue, across from River Oaks Center, the new location will feature ample parking along with approximately 3,000 square feet of finished retail space, back-office space, a secure and oversized vault for substantial inventory storage, and an advanced security system.
“The Illinois market has been a triumph since implementing adult use cannabis and we are excited to be expanding our operations in the state to better serve the customers and patients that depend on Mission,” said Gabe Mendoza, Vice President of Operations for Mission. “Like with our Mission South Chicago location, Mission Calumet City is committed to becoming a contributing member of the Calumet City community and playing our part in the ongoing economic revitalization of the area by providing a safe and beautiful home for all things cannabis.”
The new store is slated to complete construction and begin serving customers before the end of the year.
Kris Krane Appointed to Illinois Adult Use Health Advisory Committee
In an effort to build a team of diverse experts and leaders in the field of cannabis, Illinois Governor J.B. Pritzker announced over two dozen appointments to the state’s Adult Use Cannabis Health Advisory Committee, including 4Front President Kris Krane. The Adult Use Cannabis Health Advisory Committee will be responsible for reporting on the public health impacts of legal cannabis and making recommendations for future policy and regulatory changes to positively impact the overall health implications for legal cannabis in the future.
“It’s truly an honor to have been appointed by Governor Pritzker to serve on the governor’s Adult Use Health Advisory Committee, along with many distinguished members of the public health, education, treatment and cannabis communities,” said Kris Krane. “Under Governor Pritzker’s leadership, the initial rollout of Illinois’ adult use-cannabis market has been very successful and a model for other states looking to implement a legal cannabis market. It’s great to see the voices of cannabis advocates represented within this committee, and I look forward to the work ahead to maintain Illinois’ leadership in the U.S. cannabis market.”
Maryland Asset Sale
4Front also announced that it has completed the sale of three Maryland dispensaries to Ethos Cannabis for approximately $5.5 million U.S.
To receive company updates and be added to the email distribution list please sign up here.
###
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.
4Front Investor Contacts
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Phil Carlson / Elizabeth Barker 4FrontIR@kcsa.com
212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
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.
Do you have slate installed on your home’s roofing? It’s known to have an incredible life span and is extremely durable. But that doesn’t mean it’s invulnerable to damages brought by improper care and weather. Find out how you can make your slate roof last a lifetime by following these tips:
Routine checks At least once a year, you will need to carry out an inspection of your slate roof. Do this in the fall so your roof will be effectively maintained for winter. It’s important not to introduce too much foot traffic on your roof and, when you do, a ladder safely hooked onto the roof edge is the best way to carry out a full and detailed inspection as this will help to spread your weight. If it’s absolutely necessary to walk on the slates, walk on the middle of the slate and use soft-soled shoes. Wear a safety harness at all times when working at height. Source:DoItYourself
Watch out for damaged slates The most basic repair is the slate itself. You are bound to have broken and slipped slates from time to time, especially if you have large trees around your home or there has been a strong storm. A trained slater can repair individual slates easily. Small, chipped corners on slate may look ugly but will not cause a leak. Instead, keep an eye out for missing or badly broken slates. Source:AngiesList
Only hire experts Furthermore, you should be exceedingly cautious regarding which roofing professionals you allow to evaluate and service your slate roof. Even more so than negligence on your part, the biggest threat to the life of a slate roof is shoddy or inexperienced workmanship from roofers accustomed to working with asphalt and/or those who simply want to rip a slate roof down to put up their own (familiar) materials. Especially in historical homes, it’s important that you only allow experienced slaters to work on and advise about your roof, or you risk losing significant value and historical integrity. Source:HomeAdvisor
With over 55 years in the business, we’ve handled pretty much all kinds of roofing problems and repairs. Let us take care of your slate roof and ensure that it’s always in its best shape. Call us!
The structural framework of your roof should be built with precision and expertise to avoid premature damage. Make sure your contractor follows these tips to ensure the best outcome:
Larger roofs require larger lumber If your home is going to have a very large roof to cover the square footage of your home, you will need larger dimension lumber. For example, a house that covers over 2,500 square feet will use 2×6 roof trusses rather than 2x4s.
Metal connectors are necessary Trusses are not built by screwing the wood together. They are connected through the use of flat, galvanized metal connectors. They will help form the triangle construction needed for the pitch of your home.
Use perpendicular supports Starting in the center, and working your way out, add perpendicular 2×4 supports that will help distribute the weight load. Add new vertical support that angles from the bottom of the center support on each side of the 2×4. Source:DoItYourself
Align the trusses Most roof trusses need to be installed in a specific direction even when the webbing looks exactly the same. Some trusses are painted so that the framer can see where they need to be installed while others have tags at the bottom of the truss where they require additional load-bearing points. Source:RealtyTimes
Protect materials from the weather A little moisture isn’t going to hurt most building materials, but if a project is delayed or you know you’re in for a long run of wet weather, cover your materials with a tarp. Long exposure to wet conditions can promote mold as well as cause engineered lumber to delaminate and framing lumber to warp and twist. Plus, no one wants to work with wet lumber! Keep the tarp a little loose at the bottom for air circulation. Source:FamilyHandyman
If you haven’t found a reliable contractor that can build your roofing needs with care and decades of expertise, look no further! With over 50 years in business, you can trust that we will only let our best and most qualified tradesmen handle your home projects. Give us a call today!
How often do you give attention to one of the most vital parts of your home’s exterior? Keep your gutters and downspouts clear to prevent water damage and foundation problems. Here are 3 easy steps you can do:
Use a power washer Has it been a long while since you last cleaned your gutters? A layer of dirt and debris may have built up over time. Blast it away with the fine-spray nozzle of your power washer. (This type of cleaning can get messy; be prepared to rinse the roof and exterior walls afterward.) For clogged downspouts in particular, there’s no better recourse than a power washer. Simply point the nozzle down the hole and rinse the shaft until water can run freely through it. Source:BobVila
Wear gloves and remove debris by hand Scoop out leaves, muck, and dirt with your tool of choice from the gutters, but make sure you don’t reach further than an arm’s length away in the process of cleaning out the gutters. It is much better to move the ladder one more time than to risk a fall. If you are using a metal tool, be careful not to damage and scrape the bottom of the gutter.
Make sure to check for leaks as well; clogged gutters are bad, but leaky ones can be even worse, as the water might end up inside your walls. Pour a bucket of water into the gutters – this will not only allow you to check for any leaks and examine whether the water is flowing as it should, but also help to get rid of additional dirt. Source:Cleanipedia
Make a gutter bag Take a plastic bucket and cut and bend the handle so it can be hooked over the edges of the gutters as you work. Here, you will also cut off the bottom of the bucket, creating a bottomless bucket. Now, fasten a trash bag around the bucket just under the metal handle. You can fasten it tightly with a large rubber band, duct tape or a large Velcro strap.
As you scoop dry leaves into the bucket, they will funnel down into the trash bag. This method works well with dry leaves that are bulky but light, but it will not work with heavy, wet gutter debris. Make sure not to overfill the bag so it is too heavy to easily carry down the ladder. Source:TheSpruce
Cleaning gutters and downspouts can be dangerous if you don’t have the right tools. If you’re thinking twice about going up there, it’s better to leave the task to the pros. Call us!
Company invites individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentations on VirtualInvestorConferences.com
PHOENIX, Sept. 3, 2020 /PRNewswire/ – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announced that Company Chief Investment Officer Andrew Thut will present live at VirtualInvestorConferences.com on September 10th.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
4Front reported Total Systemwide Pro Forma Sales for the second quarter 2020 increased 1.3% quarter-over-quarter to $19 million, despite an approximate 10% revenue impact due to the closure of Chicago dispensary in June because of looting. The Company achieves positive operating cash flow starting in the month of August and expects positive adjusted EBITDA starting Q3 2020, positioning 4Front to show significant operating leverage in 2021.
In tandem with the re-opening of its Chicago Mission Dispensary following civil unrest, 4Front announced it had received its special use permit for an additional retail location in Calumet City, Illinois. The Company has submitted building plans to local officials and expects to break ground in the coming weeks, with the goal of opening its second Illinois retail location in Q4 2020.
The Company reached an agreement with the Massachusetts Cannabis Control Commission (CCC) to resolve all legacy regulatory issues related to its acquired Georgetown Mission facility. The settlement cleared the way for 4Front to seek final adult-use licensure in the state. The regulators also granted the Company’s Mission Dispensary and cultivation/processing facilities in Worcester, Massachusetts authorization to commence adult-use retail and production operations. The soft launch of adult-use sales will start Friday, September 4, with a Grand Opening on Wednesday, September 9, 2020.
To receive company updates and be added to the email distribution list please sign up here.
###
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
4Front Investor Contacts
Andrew Thut, Chief Investment Officer IR@4frontventures.com 602-633-3067
Phil Carlson / Elizabeth Barker 4FrontIR@kcsa.com 212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com 212-896-1265 / 212-896-1206
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
PHOENIX, Ariz., September 2, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) announced that the Massachusetts Cannabis Control Commission (“CCC”) has granted 4Front’s Mission Dispensary and cultivation/processing facilities in Worcester, Massachusetts, authorization to commence adult-use retail and production operations. The soft launch of adult-use sales will start this Friday, September 4, with a Grand Opening on Wednesday, September 9, 2020.
Entry into the adult-use market significantly expands 4Front’s total addressable market and is expected to drive both top-line and bottom-line growth at the Company in the second half of 2020 and into 2021. Massachusetts is a core growth market for 4Front, with the Company also executing its fully funded expansion plans that are underway at its Georgetown, Massachusetts production facility, which are expected to significantly increase its output from this location to meet market demand.
“Receiving adult-use licensure in Worcester is another significant milestone for the Company and follows adult-use licensure at our Georgetown facility in August. We would like to thank the CCC for their support during the licensing process,” said Leo Gontmakher, CEO, 4Front Ventures. “Consistent with our Company’s culture of setting operational goals and executing upon them, it’s great to see the continuing momentum as we announce another of what I expect to be many achievements in the back half of this year. I am proud of the hard work from each of our employees in making this happen. We expect this to augment the recent accelerated growth we’re experiencing in Massachusetts as we continue to benefit from replicating our tried and true production capabilities, now fully supported by our retail stores.”
Interested consumers can visit the Mission dispensary at:
640 Lincoln Street
Worcester, MA
To receive company updates and be added to the email distribution list please sign up here.
###
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.
4Front Investor Contacts
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Phil Carlson / Elizabeth Barker 4FrontIR@kcsa.com
212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
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.
Leaking can easily be considered as one of the most common roofing problems homeowners have to face. Because of it, there’s been a rise in demand for a roofing material that can prevent such problem and provide more benefits. Get to know more about it below:
What are Rubber Roofs? Single-ply synthetic membrane rubber roofing is ideal for use over low-sloping or flat roofs because it is durable, pliable, and waterproof. Whether they are made from synthetic rubber polymers or are made from plastic polymers, rubber roofs are designed to go in places where asphalt shingles don’t perform well.
Synthetic single-ply roof systems are not the cheapest way to re-roof a home in the short term (roof material is generally measured by the “square”, which translates to 100 square feet; rubber roofing is likely to cost about $300 or $400 per square, while asphalt shingles are usually less than $100 per square). Rubber roofs, however, can last twice as long as other types of roofing and can save on energy costs, so they save you both time and money in the long run. Source:HomeAdvisor
Advantages and Disadvantages While rubber roofing is often a good option, there are some disadvantages. Here are some pros and cons of rubber roofing that will help you make a decision on whether or not it is the way you want to go:
Care and Maintenance Like any roofing material, rubber expands and contracts as temperatures fluctuate. For leaks and cracks in the rubber, simply cover them with a latex tape or sealant. If a portion of your roof is especially wrought with cracks, you may want to consider patching it with new rubber shingles or with a smaller roll of rubber roofing.
To be safe, many homeowners with rubber roofs opt to coat the entire rubber roof system in liquid rubber or a similar liquid sealant to prevent upkeep and maintenance down the road. Source:Home.HowStuffWorks
Do you have any roofing needs? We’ll take care of it you. Give us a call today and get a free estimate!
Q2 2020 Systemwide Pro Forma Sales, excluding divested non-core assets, increased 1.3% from Q1 2020 to $19m, despite an approximate 10% revenue impact due to the closure of Chicago dispensary in June because of looting.
Company achieves positive operating cash flow starting in the month of August and expects positive adjusted EBITDA starting Q3 2020. Company is poised to show significant operating leverage in 2021.
Company continues to see strong demand across its entire portfolio and anticipates accelerating revenue growth in Q3 and Q4 driven by recreational approvals in Massachusetts, continued expansion in Illinois and strong sales trends in Washington.
Company expects to finalize the divestiture activities of non-core assets with the closing of Maryland in early September.
Funded expansion plans underway in both Massachusetts and Illinois production facilities, as well as opening of second Illinois retail location in Calumet City, remain on schedule to be completed in Q4 2020.
Company remains in progressive discussions to strengthen its balance sheet through a financing/sale leaseback of its affiliated facilities in Washington state.
PHOENIX, Ariz., August 31, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announced its financial results for the Second Quarter of 2020.
Second Quarter 2020 Financial Results Highlights
Total Systemwide Pro Forma Sales for the second quarter 2020 increased 1.3% quarter-over-quarter to $19m.
IFRS Sales for the second quarter of 2020 were flat quarter-over-quarter at $12.7m.
Adjusted EBITDA for the second quarter was a loss of $0.4m.
Business Update
Robust consumer demand continues across all operating markets. Recreational sales in Georgetown, MA progressing steadily since August 12th launch, sales at Mission South Chicago are on pace to climb back to pre-shut down levels since the re-opening on July 31st. Washington experienced record sales in July with that momentum carrying into August.
Company reaches cash flow goals ahead of schedule. Achieves positive operating cash flow in the month of August and expects to generate positive adjusted EBITDA for Q3 2020. Poised to show significant operating leverage in 2021.
All construction and expansion projects remain on budget and on schedule. Fully funded expansion plans at Elk Grove, IL and Georgetown, MA cultivation/production facilities are expected to be completed in Q4. Second Illinois retail location in Calumet City also remains on schedule for a Q4 opening.
Completion of non-core asset divestitures nearing completion. Divestitures of non-core retail assets in Arizona, Arkansas and Pennsylvania are complete. Close of Maryland divestitures expected to be completed in early September.
Washington Financing/Sale Leaseback Update. As of June 30, 2020, 4Front’s balance sheet had cash and equivalents of $11.4m with total debt of $78.3m (excluding in-the-money convertible debt of $5.8m). The Company owns and controls highly attractive real estate in Washington state consisting of 176,000 square feet of state-of-the-art industrial space built for cultivation, production and distribution. The Company is in progressive discussions with multiple partners on this transaction.
Management Commentary
Leo Gontmakher, CEO of 4Front, said, “Entering 2020, we have been laser-focused on leaning out and replicating our low-cost cultivation and production model in targeted states. We enter the second half of 2020 with a focused business model, streamlined cost structure and fortified balance sheet that has set the stage for us to accelerate growth across our core markets of Washington, Illinois, Massachusetts, Michigan and California.
Mr. Gontmakher added: “Our strong business momentum leaving the second quarter will be aided by significant tailwinds as we enter the second half of this year. We welcomed the first adult-use sales in Massachusetts at our Georgetown facility on August 12th and anticipate final approvals for adult use sales at our Worcester facility imminently. Our cultivation/processing facility expansions in Massachusetts and Illinois as well as our second Illinois retail location are on-track for end of year completion. We continue to execute on our plans to flip to cash flow positive during the third quarter and have set the stage to exit this year in a position to drive meaningful operating leverage in our business. We are proving that our success in Washington can be replicated in every state in which we operate and are extremely confident in how the company is positioned as we enter this new season.”
(Please see Note Regarding Non-IFRS Measures, Reconciliation, and Discussion below.) (*Please see the Financial Statement section below, and the Company’s Second Quarter 2020 Unaudited Condensed Consolidated Financial Statements and Management Discussion and Analysis (“MD&A”), available under the Company’s SEDAR profile, for more information.)
Additional Details
As of the date of the MD&A, there were the equivalent of 506,379,437 Class A Subordinate Voting Shares outstanding when calculated as if all share classes were converted to Subordinate Voting Shares. For further details regarding 4Front’s share structure, please see its profile at www.thecse.com.
Conference Call
The Company will also host a conference call and webcast on Monday, August 31, 2020 at 5:00 p.m. EDT to review its operational and financial results and provide an update on current business trends.
To join the call, dial 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries. The webcast, which will include a slide deck, can be accessed at this link.
The call will be available for replay until Monday, September 7, 2020. To access the telephone replay, dial 844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and use this replay pin number: 13708994.
Financial Statements The condensed consolidated interim financial statements for the three and six months ended June 30, 2020 and 2019, have been prepared in accordance with IAS 34 – Interim Financial Reporting. These statements have not been reviewed by an auditor.
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, excluding fair value adjustments for biological assets. 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 (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website
4Front Investor Contacts
Andrew Thut, Chief Investment Officer IR@4frontventures.com 602-633-3067
Phil Carlson / Elizabeth Barker 4FrontIR@kcsa.com 212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com 212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
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.
to the training, showing how small improvements like properly holding a brush helps create a clean line between soffits and siding, what’s known as ‘cutting in’. Painting paneled entry doors is a unique skill that takes patience and learning the right order to paint each component.
each employee had a chance to hear how to use a sprayer safely, see Nestor S spray a section, and then try their hand at spraying the siding of the house. With Nestor’s feedback, each one gained confidence and the first level of competence.
