FFNTF is a LONG
New additional speaker Joe Feltham, COO FFNTF
On Wednedsay 4/14 we have a call with Andrew Thut and Joe Feltham of FFNTF at 10 AM EST. Andrew was an early investor in 4Front, joining the company full time in 2014. Andrew is now the CIO of the company after serving as the Managing Director of the BlackRock Small Cap Growth Fund for 11 years. Joe joined FFNTF in 2014 and was appointed Chief Operating Officer of FFNTF in 2020.
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CURLF International
With a European population of nearly 748 million, the potential European addressable market is more than twice the size of the U.S. addressable market. To that end, CURLF is moving aggressively into the international market. To accelerate the expansion (of Curaleaf International), Curaleaf has secured an investment of $130 million from a single strategic "institutional" investor in exchange for a 31.5% equity stake in Curaleaf International. This puts a $413 million Post Money valuation, with US$80 million in cash on hand. The new investor will fund the entire cash portion of CURLF's acquisition of EMMAC acquisition consideration of US$50 million, and the balance to be used to fund Curaleaf International’s current capital expenditures plan through 2022, as well as its pipeline of potential acquisitions. "This infusion of outside capital into Curaleaf International significantly accelerates Curaleaf’s expansion plans in Europe by fully funding Curaleaf’s cash outlay for the EMMAC acquisition and providing the capital required to support Curaleaf International’s near-term European rollout. With its foreseeable expansion budget fully funded, Curaleaf’s new international business can focus on executing its further European expansion." Curaleaf and the strategic investor have entered into a shareholders’ agreement regarding Curaleaf International's governance, according to which Curaleaf will have control over operational issues and raising capital and the ability to exit the business. Besides, the strategic investor’s stake is subject to put/call rights which permits either party to cause the stake to be bought out by Curaleaf for Curaleaf equity starting in 2025.Curaleaf International
The Parent Company - Loyalty program
GRMWF has a new “first-ever” integrated loyalty program, Caliva CLUB, now in beta with caliva.com customers. According to the PR, “Based on record online customer transaction growth of +141%1 and an omnichannel platform that covers more than 50% of California today, Caliva, The Parent Company's direct-to-consumer platform, is piloting its new loyalty program via the brand's delivery channel.” The launch, a key strategic driver for The Parent Company's broader digital innovation push, aims to enhance the consumer experience across its integrated omnichannel platform.
