4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) announced today that it has authorized the issuance of class A subordinate voting shares in the capital of the Company (the “Class A Shares”) and purchase warrants convertible into Class A Shares to settle debt owed to certain of its service providers.
The board of directors of the Company (the “Board”) approved the settlement of US$650,000 of debt through the issuance of 4,062,500 Class A Shares to one of its financial service providers. The Class A Shares will be issued at a price of US$0.16 (or C$0.218) per Class A Share.
The Board also approved a second debt settlement of US$75,000 through the issuance of 625,000 purchase warrants of the Company (each a “Warrant”) to another service provider of the Company. Each Warrant will be exercisable at C$0.23 into one Class A Share for a period of 4 years.
About 4Front Ventures Corp.
4Front Ventures Corp. (“4Front” or the “Company”) (CSE: FFNT) (OTCQX: FFNTF) is a national, vertically integrated multi-state cannabis operator who owns or manages operations and facilities in strategic medical and adult-use cannabis markets, including California, Illinois, Massachusetts, Michigan, and Washington. Since its founding in 2011, 4Front has built a strong reputation for its high standards and low-cost cultivation and production methodologies earned through a track record of success in facility design, cultivation, genetics, growing processes, manufacturing, purchasing, distribution, and retail. To date, 4Front has successfully brought to market more than 20 different cannabis brands and over 1800 products, which are strategically distributed through its fully owned and operated Mission dispensaries and retail outlets in its core markets. As the Company continues to drive value for its shareholders, its team is applying its decade of expertise in the sector across the cannabis industry value chain and ecosystem. For more information, visit 4frontventures.com.