4Front Debuts on CSE (CSE: FFNT), Agrees to Settle Longstanding Advisory Contract
4Front to receive lump-sum settlement with respect to one of its historical revenue-share contracts
VANCOUVER, British Columbia and PHOENIX, Aug. 6, 2019 /PRNewswire/ — 4Front Ventures Corp. (CSE: FFNT) (“4Front”) today debuts on the Canadian Securities Exchange (“CSE”) under the ticker symbol “FFNT.” In addition, the company has agreed to terms of a settlement agreement in respect to amounts owed to it under one of its many historical advisory and licensing agreements.
CSE Debut and Conference Call
4Front on July 31, 2019, announced the completion of its merger with Cannex Capital Holdings Inc. 4Front will begin trading on the CSE today under the new ticker symbol “FFNT.” Now that trading has begun on the CSE, the company is working on becoming quoted on the OTC in the United States. Further updates on the OTC will be forthcoming as more information becomes available.
The company held its first investor conference call on Friday. The transcript of the call is available on 4Front’s website. A recording of the call will be available until Aug. 9, 2019, by dialing 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: 13693368.
4Front Agrees to Settle Legacy Advisory Contract
4Front, which began in 2011 as an advisory firm before evolving into the operations-focused, multi-state cannabis company it is today, has several historical advisory agreements still in place. These consulting agreements provide 4Front an ongoing share in revenue (typically 5%) of dispensary operators for which 4Front helped obtain licenses and establish operations.
As an advisor, 4Front ultimately helped obtain more than 60 cannabis-operations licenses across 10 states. This latest settlement brings the total amount in settled or arbitrated legacy contract awards to approximately $13 million, and leaves a significant majority of 4Front’s historical advisory and licensing contracts still in effect.
I view these contract settlements as just rewards for our efforts in helping shape the cannabis industry during its formative years. While we consider legal avenues a last resort, we have an obligation to enforce these contracts.
Josh Rosen, CEO of 4Front Ventures
In addition to the potential for additional revenue and settlements, one benefit to our consulting roots is our large network—we’ve also acquired controlling stakes in three former clients, and that’s an avenue we’ll continue to explore.
About 4Front Ventures Corp.
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities, experienced and aligned 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 can apply 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.
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