Marijuana multistate operator 4Front Ventures amended its credit facility and enlisted Canaccord Genuity Corp. to hone its financial strategy.
Under the amended credit facility – initially established in October 2023 – Altmore Capital affiliate Alt Debt II will advance Arizona-based 4Front $850,000, according to a news release.
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4Front also will be able to access an additional $1.75 million.
According to the release, the credit facility’s outstanding principal “will bear simple interest at a rate per annum equal to the greater of (i) the WSJ Prime Rate plus 10% and (ii) 18.5%, payable monthly.”
In connection with the amendment, 4Front also is doubling the percentage of restricted share units it issued to the lender.
Meanwhile, the release noted, Canada-based Canaccord will lead 4Front’s
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