Multi-state cannabis operator 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) will buy New England Cannabis Corporation, a marijuana cultivator based in Holliston, Massachusetts for total consideration of $55 million. The Phoenix, Arizona-based confirmed Thursday that it has signed a definitive agreement for the acquisition.
The Deal Highlights
Upon closing, the transaction is expected to be significantly accretive to the Company's EBITDA expectations for 2022 and will immediately scale 4Front's presence as a dominant wholesaler and producer in the State.
NECC's fully operational 55,000 sq. ft. licensed cultivation facility strengthens 4Front's expanding footprint in this important limited-license state. The transaction will more than double 4Front's total flower canopy in Massachusetts to over 30,000 …