4Front Raises $13.4M in Series D Funding Round and Adds to Board of Directors

Friday, June 29, 2018 General News
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Flowr Founder and CEO, and former MedReleaf Co-Founder, Tom Flow Joins as New Board Member

PHOENIX, June 28, 2018

/PRNewswire/ -- 4Front Holdings, LLC ("4Front"), a leading retail and brand development company in the cannabis industry, today announced that it has closed its recent Series D funding round, raising approximately $13.4 million,
well above the targeted $10 million.

The proceeds from this offering will be used to support the continued growth of Mission-branded dispensaries and cultivation facilities, as well as general corporate purposes, including the continued administrative work to become a publicly traded company later this year.

The Company also has strengthened its board of directors with the addition of industry veteran, Tom Flow. Mr. Flow is the former co-founder and COO of MedReleaf, one of the largest licensed producers of medical cannabis in Canada. He is currently founder and CEO of The Flowr Corp., a vertically integrated Canadian cannabis company with production facilities in Kelowna, British Columbia, and a head office in Markham, Ontario. For more information visit www.flowr.ca.

Mr. Flow becomes the first independent member of 4Front's board and brings a wealth of cannabis expertise to this role. Mr. Flow's extensive cultivation experience includes the designing and building of 17 cultivation facilities under the Canadian regulatory regimes. In addition, he has been intimately involved with the procurement of three producer licenses under the current Canadian medical program with MedReleaf, In the Zone (Cronos), and Flowr.

"I've been evaluating opportunities and people in the cannabis industry since 2010 and Tom clearly stands out as an innovator and operator," says 4Front CEO Josh Rosen. "His deep roots in cannabis cultivation coupled with a talent for large-scale facility design have resulted in some of the industry's most impressive production capabilities in highly regulated environments. He's assembled an unparalleled team at his new company, Flowr, and we look forward to benefiting from his insight, leadership and network, as we build 4Front's cultivation platform."

Mr. Flow's commitments to cannabis patients and healthy outcomes also align with 4Front's underlying mission to replace prohibitionist policies around cannabis with sensible regulations rooted in science, public health and compassion.

"I'm excited to work closely with Josh and the rest of 4Front's board," says Mr. Flow. "4Front has an excellent reputation in the industry and, given its growing operations team, I think now is an opportune time to add my contributions as a member of the board. In my new role at 4Front, I'm also looking forward to gaining a front-row view of the emerging U.S. marketplace for medical and adult-use cannabis."

About 4Front

Founded in 2011 with a mission to help professionalize the emerging industry, 4Front Holdings, LLC ("4Front") is a leading retail and brand development company in the U.S. cannabis sector. It has developed a national platform that consists of a multi-state footprint, including its Mission-branded retail operations, and a far-reaching network of partnership relationships. Led by a group of professionals with experience in finance, real estate, manufacturing, and multi-location retail and hospitality operations, 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise that can support the rapid operational growth opportunity being afforded by the increased legalization of cannabis across the United States, as well as internationally. For more information, visit 4Front's website.

Contact: Anne Donohoe 212-896-1265 adonohoe@kcsa.com

 

Cision View original content:http://www.prnewswire.com/news-releases/4front-raises-13-4m-in-series-d-funding-round-and-adds-to-board-of-directors-300674364.html

SOURCE 4Front



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