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PHOENIX, Dec. 17, 2020 /PRNewswire/ - 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ( 4Front or the Company ) is pleased to announce it has completed the sale and leaseback of its cultivation and production facilities in Olympia, WA and Georgetown, MA (the Transaction ) with an affiliate of Innovative Industrial Properties, Inc., (NYSE: IIPR) ( IIP ).
This previously announced Transaction generated proceeds of US$33 million which were used by the Company to pay down the entire outstanding senior secured debt obligation to affiliates of Gotham Green Partners. The balance of the proceeds will be used for general corporate purposes.
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Business Insider identified the top investment firms in the US cannabis industry, based on how much they ve invested in cannabis startups in 2020.
The firms told us that they expect further consolidation in the industry, more established investors coming into the sector on the heels of cannabis legalization votes, and a bigger focus on investment in software and technology firms.
This is the third edition of our list of the top investment firms in cannabis. You can read the lists for 2018 and 2019 here.
After a tough year-and-a-half for the cannabis industry, the sector has found new momentum through increased pandemic-related sales and a raft of cannabis reform legislation in the US in the past few months.