Curaleaf Inc., a vertically integrated cannabis operator, is banking on the marijuana craze being far from over to propel its reverse takeover of a Canadian listed company.

The Wakefield, Massachusetts-based company plans to offer subscription receipts at C$8.56 to C$11.47 per initial receipt, equivalent to $6.5709 to $8.8059 (assuming 1.30245 USD/CAD exchange rate).

The range is based on a fully diluted pre-offering equity valuation between $3.0 billion and $4.0 billion, according to a term sheet reviewed by Bloomberg. GMP Securities and Canaccord Genuity are co-leading the offering, according to the terms.

Canada’s Lead Ventures Inc. combined with PalliaTech Inc. in August and formally changed its name to Curaleaf to reflect its brand of marijuana dispensaries and medical cannabis products. The company focuses on high-population states with limited licensing opportunities, such as Florida, Massachusetts, New Jersey and New York, according to its website.