Don’t you think stepping onto the cold, hard floor of the basement adds up to the eerie feeling that you get when going down there with the lights off? Just imagining your basement with soft carpet already makes it so much cozier. But before you head off to the store to pick up the materials you need, you must first read the following tips:
Fiber Type
Any carpet fiber style, from plush to loop, can be applied to a concrete floor. The chosen fiber material type should be a synthetic form, such as olefin face fiber. The man-made fibers will be less susceptible to moisture absorption and can be cleaned with stronger chemicals for a long-lasting floor covering. Heavy traffic areas, such as hallways and basement entertainment areas, will have an aesthetically pleasing carpet along with functionality. Carpets that absorb moisture are prone to mold and mildew deterioration.Source:HomeGuides.SFGate
Underpad
You can’t go wrong installing a moisture barrier underlayment, especially if you live in a climate that gets a lot of rain or snow. Concrete absorbs and retains water, and the moisture can seep into the carpet padding and then into the carpet. Moisture barriers, as the name implies, set up a protective barrier to block moisture from reaching the pad and the carpet. They look similar to carpet padding, but they have a plastic film on the surface to block moisture.Source:Hunker
An Important Reminder to Consider
Please note that the above recommendations are for basements that are finished and generally dry. If you do not have an insulated basement that is protected from outside leaks, or if your basement regularly floods for some reason, then no floor covering is going to be able to withstand those conditions. In such cases, your best bet is to leave your cement floor uncovered. If you wish to have something covering the cement, opt for a piece of inexpensive outdoor carpet that is designed to withstand water—and be prepared to throw it out if necessary. Even outdoor carpet can’t survive repeated or intense flooding.Source:TheSpruce
Installing carpet on a concrete floor is more complicated than it looks. Leave the job to us so you can rest assured that your investment will be worth it. Call us!
Are you planning to use carpet on one room of your home and a different flooring on an adjacent area? Here are some approaches that professionals use to get a flawless-looking transition:
Tuck-in Carpet to Tile
This is the method that is most often used for transitioning from carpet to tile. In this method, you make use of the often-used carpet helper, the tack strip.
It is highly recommended that you lay the tiling before you install the carpet if using this method. Carpet can easily be cut and positioned easily, or at least, it can be moved more more easily than tile, especially after the tile has been set into place.
After the tile is installed, put in a tack strip 1/4 to 3/8 inches from the edge of the tile. The next step should be to cut at the direct edge of the tile. However, you can also pull the carpet across the space between the tack strip and the tile’s edging. Then use a knee kicker so that the carpet has extra edging, allowing it to be pushed into the space. After that, use the tack strip to hold it in place.Source:DoItYourself
Carpet to Concrete
If you are working with a transition point where a concrete floor is in place, you cannot nail down the tack strips, nor should you use general construction adhesive to mount a tack strip in place. Instead, there are specialty glues sold at home improvement stores which are specifically designed to mount tack strips to concrete. They are fast-drying and some come in a hot-glue style of application; others are troweled on or applied via a caulking gun. The same rule applies: the tack strip needs to be placed at least 1/4 inch from the edge of the tile to allow room for the tuck. Existing carpet installations merely require that the tile meet up to the edge.Source:HomeGuides.SFGate
Use a Carpet Edge Gripper
A carpet edge gripper is an aluminum strip that holds the edge of carpet with sharp metal teeth. It is used to transition to any adjoining surface that is lies lower the carpet.
An edge gripper is installed by being tacked to the subfloor. Then, the carpet is forced into the toothed side of the strip, which holds the carpet backing much the way tackless strips are used to secure a carpet around theperimeter of a room.Source:TheSpruce
Carpet will always be a timeless flooring for high-end homes if installed right. So, if you’re unsatisfied with the appearance of your carpet, let us take care of it! Call us today!
Nothing beats the excitement of finally getting the home renovation you’ve been saving for. But at the same time, you can’t deny how the whole process can quickly get stressful if you aren’t well prepared for it. So, if installing a new carpet is part of your to-do list, here’s how you can make things easier for you and the installer:
Clear the space
Move the furniture out of the space to be carpeted. You will want to put it somewhere out of the elements. If you are carpeting a single room, you can put the furniture in another room, but if you are doing an entire house or floor, you may need a garage or storage space.
If you are unable to get enough help from friends or neighbors or if you have health problems, you may want to hire furniture movers to take your furniture in and out of the house.Source:WikiHow
Make a path for the installers
Sure you’re getting new carpet, but not at the risk of your other interior flooring. As contractors move in and out of your house, they will naturally leave behind footprints, dirt, mud, sweat, and tears. Also, they may be carrying heavy equipment behind them that could otherwise damage your other flooring. Therefore, always lay a trail from the contractor’s entryway to the area that is being refurbished. Use old towels, cardboard, or drop cloths. Or you can use old carpet squares; if you’re replacing your carpet during this new installation, and you’re just going to throw the previous flooring away, you may as well use if for this particular purpose.
It’s a good idea to adhere these materials though. Tape down the cardboard or drop clothes in order to avoid any slipping when walking or carrying heavy materials. There is no point in saving your floors if you’re actually creating more hazards to the contractors themselves. On hardwood floors or tile, you may want to be careful about how you adhere items: tape may cause damage to the finish, so possibly carpet padding would be a better resistor.Source:HomeAdvisor
Install the carpet last
You want to be sure that all other remodeling projects (wallpaper, new trim, painting, subfloor repairs) have been completed before your carpet installation date.
After your new carpet is professionally installed, the installer will remove small scraps. Any large pieces will be left behind for you. Some people have these pieces cut into small rugs for their home. Binding can be applied to the edges of these carpet pieces for a nominal fee to keep them from fraying.
After all this, there is one thing left to do: Admire your new carpet.Source:AngiesList
Finding the right professional to do the job for you is crucial to the success of your home projects. If you need anyone to handle all carpet-related issues for you, simply give us a call and we’ll be there!
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.
Have you started to notice bald patches on your carpet’s surface? The culprit might be the tiny insects that feed on its fibers. Get rid of them and stop future infestations by doing these simple tricks:
Keep your pet’s area clean
Furry pets are the first choice of carpet beetles. They feed on the dead skin of your pets and use their body as their hiding place. If you spot any carpet beetles on your pet’s bedding, clean and wash it in hot water to kill larvae or eggs. Don’t forget to give your pet a shampoo bath.
Don’t store fabrics or cloths for extended period
You must regularly clean and wash cloths, fabrics, rugs and carpets in hot water or dry clean them. This is particularly applicable for cloths and fabrics which were not used for some time.Source:DoItYourself
Watch out for dead bugs
Constantly be on the lookout for dead insects in the cracks of the walls and flooring of your home.Try removing dead bugs by vacuuming over them or picking them up with a paper towel. Cracks are one of the more subtle living spaces that carpet beetles can thrive within.
Go synthetic
Choose synthetic materials over organic fabrics when possible. Get products made of synthetic fibers instead of natural ones as often as you can. Carpet beetles don’t feed on synthetic fabric. Keep this in mind when purchasing furniture, rugs, and carpets.Source:WikiHow
Sprinkle boric acid
Boric acid, which acts as a poison on insect metabolism, is only hazardous to humans if ingested or inhaled in large quantities. Find it at pharmacies and sprinkle it in powder form lightly and evenly on carpet, then use a broom or brush to distribute it into the fibers. Wait several hours and vacuum thoroughly. You may also prepare a larvae-killing spray by adding one tablespoon of boric acid to two cups of hot water and stirring until the powder dissolves. Fill a plastic spray bottle with the solution and mist curtains, upholstery, baseboards, and dark nooks and crannies where carpet beetle larvae hang out.Source:BobVila
Let us help you repair those ugly spots on the carpet so you won’t have to look at them anymore. Call us anytime to get a free estimate!
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.
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.
Installing new carpet does not necessarily mean that you’re ditching the old one straight to the recycling facility. If you want other eco-friendlier ideas that you could use at home, here are some tips to consider:
Single-use beds for your fur baby
We sure do love them, but those furry friends at home can make quite a mess in their living space. While buying new beds and mats can become pricey over time, a quick and easy, money-saving solution is to cut up a few squares of your old carpet to change in and out of their pens or bedding.
Durable car floor covers
No matter what kind of vehicle you are driving these days, consider cutting up your floor covering to use as mats inside your car. Help protect your existing mat by placing a freshly cut square on top. Plus, during the worst of weather seasons, which are always just around the corner, your old carpet will take the beating, leaving your car flooring unscathed. Source:RecycleNation
Welcome mat
Old carpets make the perfect material to create a new door mat. Cut the carpet into the size and shape you desire for a door mat. Then, you can even paint the carpet with latex paint in order to give it a whole new look. Use stencils to personalize it as needed. These even make great gifts for friends and family members moving into a new home, or you can easily create a holiday themed door mat on the cheap this way.Source:DoItYourself
Garage wall cushion
If you’ve been known to park a little too close to the wall of your garage, attach a strip of carpet to the wall so that you don’t ding up your car door when you swing it open. A simple solution to what could have otherwise been an expensive car repair.Source:LittleThings
Are you thinking twice about replacing your old carpet? We can still probably make it look as good as new. Let us take a look! Give us a call today for a free estimate.
There are good and bad people in any industry or market. No matter how strict the regulations are, you have to be wary and cautious with every deal you’re signing so as to avoid getting ripped off. Keep your eyes peeled for the following scams when you’re buying carpet or having it installed.
Overpriced Quotations
You call a professional to give you a quote for your carpet installation. He starts measuring the surface that will be covered, while having a nice conversation with you.
After he’s done measuring, he will give you the quote: “let’s say a promotional $9/ square foot, for all your 200 coverable square feet. That means $1,800.”
You decide to be smart and think it is a good idea to shop around to see if there is a better best price, so after he leaves you start looking for another quote and find out the average price is $12/ square foot – so your man was the best!
What you haven’t realized is that your coverable space is only 100 square feet not $200, which means only $1,200 at the average price (the scammer is actually charging you $18/ square foot).
How to avoid:
Buy a tape measure and measure the length and breadth of the surface yourself (multiply them together to get the measurement in square feet). Then ask around for quotes for carpet installation for that measurement.Source:Scam-Detector
“Free” Installations
In this scam, carpet dealers advertise greatly reduced installation rates or even free installation. But the advertisements neglect to mention that this only apply to “basic” installations, which can mean as much – or as little work as dealers want. Any additional installation comes with hefty fees. Buyers should not sign anything until they know just what the basic installation entails – or the amount a dealer would impose for the rest of the installation process.Source:DoItYourself
The Private Label
It starts when you find a carpet sample you really like on a contractor’s board but think the price is just too high. You go looking for it elsewhere, but with no luck. He tells you the carpet is actually a “private label,” and no one else sells the exact same brand. In fact, he’s lying. The carpet is available at any retail or big-box store, just under another brand name. Because it’s been rebranded (sometimes by the suppliers themselves) finding a match becomes difficult.
Don’t believe any company that tells you they’re the only ones who can carry a specific color or type of carpet, unless you’re looking for something extremely specific and high-end. If you spot a bad rebrand, move on.Source:AngiesList
Have your carpet repaired or installed by someone who has a good track record and has been in the business for a long time. Give us a call to get a free and honest estimate of your carpet needs.
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.
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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.
Shag rugs are known for their soft, squishy feel on the feet that can make any room cozier especially now that the weather is starting to grow colder. If you have one at home, proper maintenance is key to prolonging its life span and ensuring everyone’s safety. Here are some tips to keep in mind:
Blot out stains right away
Ideally, you’ll use this method to treat a spill before it has a chance to set in, but even if it’s dry before you get to it, there’s still hope. Combine equal parts plain white vinegar and room-temperature water, and pour directly onto the affected area. For a small stain caused by a few tablespoons of spilled liquid or food, start with ½ cup of each ingredient to form the mixture, making more if necessary.
Work the solution into the stain with a white microfiber cloth—better than a rag because it won’t stain or leave lint behind—using some elbow grease to release it from the fibers. Once you’ve eliminated the stain entirely, hang the clean shag rug in a well-ventilated area to dry completely.Source:BobVila
Get rid of dirt
Vacuum a shag rug as needed, which may be weekly on average, daily if it’s used every day by children or pets, or monthly if it’s rarely walked or played on.
Set the vacuum’s cleaning head to high pile, if your vacuum cleaner has this option. If the cleaning head isn’t adjustable, you may want to invest in a vacuum with such an option to help control suction and make the head glide more easily.
Suction out the dirt thoroughly. Dirt left to grind at a carpet’s fibers will cause them to breakdown or wear out. Do not use the vacuum’s beater bar or power head on a shag rug. The whirling action can snag, pull or tear out strands.Source:SFGate
Have a professional deep clean the carpet
If you are struggling with the decision about whether or not to clean your shag carpet yourself, you might want to consider hiring a professional to clean it for you. Due to the delicate nature of shag carpet, it is very easy to damage in cleaning. It might be better to play it safe and pay a professional.
Be sure to check around for a carpet cleaning company that has experience cleaning shag carpet specifically.Source:WikiHow
If you start to notice your shag carpet’s fibers getting too worn out or loose, consider getting it repaired before having it replaced. Call us so we can help!
Get to know the basics of one of the most famous carpet styles for homeowners looking for a balance between quality and price.
What is Frieze Carpet?
In order to understand whether or not you want frieze carpet, you first need to understand what you are dealing with. Frieze carpet is a textured carpet made of smaller individual strands. In order to construct frieze, the manufacturer takes several small carpet fiber strands and twists them together very tightly. This creates a look that is very similar to the old shag carpet that everyone is familiar with. While it may look a little like shag, it is usually quite a bit shorter than the shag everyone had many years ago. Source:DoItYourself
Costs
Frieze carpet tends to be slightly more expensive than other styles of carpet, yet it remains an economical choice compared to other flooring options.
Frieze carpet ranges from $1 to $8 per square foot — not bad when you consider hardwood flooringaverages around $8 to $22 per square foot, installed. The price depends on three factors: fiber material, face weight and twist level.
The most common fiber materials are polyester, polyethylene terephthalate (PET), nylon and wool. Nylon and wool are typically more expensive than polyester and PET.Source:FamilyHandyman
Maintenance and Repair
High durability is probably the biggest advantage of frieze, which derives from the high twist of the fibers. A strand of carpet is strongest on its side rather than the end of the strand. When a fiber is standing straight up and down, the impact of foot traffic occurs directly on top, which will eventually cause the fibers to spread (bloom) and crush the carpet. But when a fiber is long and flopped over, as is the case with the twisted fibers on a frieze carpet, the impact occurs on the side of the fiber, where there is no danger of blooming.
While frieze carpets have the advantage of hiding dirt and footmarks, this comes at a price—they can be difficult to clean. With tighter, shorter piles, spills tend to sit on top of the carpet, where you can easily clean and remove the carpet stain. Since frieze fibers are long and loose, the spill tends to run deep into the carpet, making it much more difficult to tackle. For this reason, be sure to buy a carpet with excellent stain resistance. Look for comprehensive stain and soil warranties on the carpet. You may wish to choose a solution-dyed fiber, which means that the color is added directly in the manufacturing process, not applied later. In this process, the color goes entirely through the fiber, which means very high stain resistance.Source:TheSpruce
Are you thinking about installing frieze carpet on your home? We can help make sure if it’s the right fit for your home. Give us a call today!
If you’re looking for a soft flooring option, but you’re not ready to commit to something as long-term as a wall-to-wall carpet, carpet tiles are a great alternative.
What are Carpet Tiles?
Carpet tiles are a unique type of flooring material that straddles the line between tile floors and carpet. Also known as modular carpet, it comes in multiple shapes, sizes, colors and designs. While traditional carpet flooring requires professional installation, DIY enthusiasts can install carpet tiles on their own.Source:Improvenet
What are its different types?
Carpet tiles are made with various fibers, such as wool and nylon, and cut-pile and loop piles in various depths — just like regular carpet flooring.
The biggest difference depends on the type of backing a manufacturer puts on the bottom of the tile. There’s urethane, recycled vinyl, fiberglass, polypropylene and others. Whatever the backing, it’s important to choose carpet tiles with a manufacturer’s warranty against buckling, shrinkage and curling at the edges — the weak spot of carpet tile installation.Source:DIYNetwork
Do they have stylish patterns and designs?
Some carpet tiles have textures that will create a pattern depending on how each tile is laid. If the tiles all face the same direction, the pattern will look like parallel lines running through the carpet. Turning each tile 90 degrees will create a basket weave pattern. One of the easiest patterns to create is a checkerboard pattern, which can be done with just two colors; a variation checkerboard can be created with three colors. Different colors can be laid out in a diagonal pattern. Custom designs can be made by mixing solid-colored tiles with different patterned tiles or patterned tiles can be used to create a border. The possibilities are endless. Lay the tiles out on the floor and experiment with different design ideas. The tiles should be in the exact position you want them before you begin the installation process. Browse through picture galleries for ideas and inspiration.Source:HomeGuides.SFGate
Choosing between carpet tiles and wall-to-wall carpet largely depends on several factors, such as your lifestyle, budget, and aesthetic goals. If you’re confused about which one would better suit your home, call us, and we’ll gladly be of help.
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.
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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.
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.
