Offering Of Units

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. The Phoenix, 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.The company said it plans to utilize the net proceeds of the offering to buy equipment, inventory, cultivation inputs, and additional retail licenses and complete the buildout of its new retail locations.

Weed Giant Canopy Announces Upsized $35M Private Placement

Canadian cannabis producer Canopy Growth has raised $35m from a private placement of tranched units with "certain institutional investors". Each unit comprised one common share and one class A or class B common share purchase warrant, with series A exercisable for five years immediately following the placement's close, and series B after six months. The proceeds will give the Ontario-based company more financial clout, allowing it to pay down debt and giving it some marketing cash. In November, Canopy cut its debt by C$364m, bringing its total debt reduction to C$1bn ($798m) since the start of the fiscal year. The company is now hoping to cut costs further, targeting a C$300m reduction by the end of the current fiscal year.