Cannabis Company 4Front Announces Broker Offering Of Up To $3.6M In Units, Here’s Where The Money Will Go
4Front Ventures Corp. (CSE:FFNT) (OTCQX:FFNTF) announced on Thursday it seeks to secure roughly CA$5 million ($3.65 million) in financing.
What Happened
The Arizona-based company said that it has entered into an agreement with Eight Capital, as lead agent and sole book-runner, on behalf of a syndicate of agents to be formed, to act as agents on a “best efforts” basis to sell up to 47,620,000 of its units at CA$0.105 per unit for gross proceeds of up to CA$5,000,100.
Under the agreement, each unit will consist of one class A subordinate voting share of 4Front and one SVS purchase warrant, with each warrant entitling the holder thereof to purchase …