Cannex Capital Holdings Inc. and 4Front Holdings, LLC announced that they had signed a binding letter agreement according to which 4Front has agreed to combine with Cannex in an all-stock transaction. Financial terms were not disclosed. 4Front currently operates five medical cannabis dispensaries across four states, with plans to open at least five more during the first six months of 2019. It runs most of its dispensaries under the Mission brand. Cannex owns two large-scale indoor cultivation facilities and a production and logistics facility in Washington State. Its strategic operating tenant, Northwest Cannabis Solutions, boasts strong cultivation yields and produces some of the top-selling flower and infused-product brands in Washington. The new combined company will own, operate or manage six existing cultivation and production facilities in Washington, Illinois and Massachusetts and five retail operations in Illinois, Massachusetts, Maryland, and Pennsylvania. 4Front also has licenses or licensing agreements in place that will enable it to open and operate several more dispensaries in Massachusetts, Maryland, and Pennsylvania under the Mission brand. “This is a transformational event for Cannex as we will immediately become operational in six US states with a platform that can be replicated and leveraged into additional jurisdictions,” Anthony Dutton, CEO of Cannex