4Front Announces Second Quarter 2020 Results and Business Update

• Q2 2020 Systemwide Pro Forma Sales, excluding divested non-core assets, increased 1.3% from Q1 2020 to $19m, despite an approximate 10% revenue impact due to the closure of Chicago dispensary in June because of looting.
• Company achieves positive operating cash flow starting in the month of August and expects positive adjusted EBITDA starting Q3 2020.  Company is poised to show significant operating leverage in 2021.
• Company continues to see strong demand across its entire portfolio and anticipates accelerating revenue growth in Q3 and Q4 driven by recreational approvals in Massachusetts, continued expansion in Illinois and strong sales trends in Washington.
• Company expects to finalize the divestiture activities of non-core assets with the closing of Maryland in early September.
• Funded expansion plans underway in both Massachusetts and Illinois production facilities, as well as opening of second Illinois retail location in Calumet City, remain on schedule to be completed in Q4 2020.
• Company remains in progressive discussions to strengthen its balance sheet through a financing/sale leaseback of its affiliated facilities in Washington state.

PHOENIX, Ariz., August 31, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announced its financial results for the Second Quarter of 2020.

Second Quarter 2020 Financial Results Highlights

• Total Systemwide Pro Forma Sales for the second quarter 2020 increased 1.3% quarter-over-quarter to $19m.
• IFRS Sales for the second quarter of 2020 were flat quarter-over-quarter at $12.7m.
• Adjusted EBITDA for the second quarter was a loss of $0.4m.

Business Update

Robust consumer demand continues across all operating markets.  Recreational sales in Georgetown, MA progressing steadily since August 12^th launch, sales at Mission South Chicago are on pace to climb back to pre-shut down levels since the re-opening on July 31^st.  Washington experienced record sales in July with that momentum carrying into August.

Company reaches cash flow goals ahead of schedule.  Achieves positive operating cash flow in the month of August and expects to generate positive adjusted EBITDA for Q3 2020.  Poised to show significant operating leverage in 2021.

All construction and expansion projects remain on budget and on schedule.  Fully funded expansion plans at Elk Grove, IL and Georgetown, MA cultivation/production facilities are expected to be completed in Q4.  Second Illinois retail location in Calumet City also remains on schedule for a Q4 opening.

Completion of non-core asset divestitures nearing completion.  Divestitures of non-core retail assets in Arizona, Arkansas and Pennsylvania are complete.  Close of Maryland divestitures expected to be completed in early September.

Washington Financing/Sale Leaseback Update.  As of June 30, 2020, 4Front’s balance sheet had cash and equivalents of $11.4m with total debt of $78.3m (excluding in-the-money convertible debt of $5.8m). The Company owns and controls highly attractive real estate in Washington state consisting of 176,000 square feet of state-of-the-art industrial space built for cultivation, production and distribution. ​ The Company is in progressive discussions with multiple partners on this transaction.

Management Commentary

Leo Gontmakher, CEO of 4Front, said, “Entering 2020, we have been laser-focused on leaning out and replicating our low-cost cultivation and production model in targeted states. We enter the second half of 2020 with a focused business model, streamlined cost structure and fortified balance sheet that has set the stage for us to accelerate growth across our core markets of Washington, Illinois, Massachusetts, Michigan and California.

Mr. Gontmakher added: “Our strong business momentum leaving the second quarter will be aided by significant tailwinds as we enter the second half of this year.  We welcomed the first adult-use sales in Massachusetts at our Georgetown facility on August 12^th and anticipate final approvals for adult use sales at our Worcester facility imminently.  Our cultivation/processing facility expansions in Massachusetts and Illinois as well as our second Illinois retail location are on-track for end of year completion.  We continue to execute on our plans to flip to cash flow positive during the third quarter and have set the stage to exit this year in a position to drive meaningful operating leverage in our business. We are proving that our success in Washington can be replicated in every state in which we operate and are extremely confident in how the company is positioned as we enter this new season.” 

(Please see Note Regarding Non-IFRS Measures, Reconciliation, and Discussion below.) (*Please see the Financial Statement section below, and the Company’s Second Quarter 2020 Unaudited Condensed Consolidated Financial Statements and Management Discussion and Analysis (“MD&A”), available under the Company’s SEDAR profile, for more information.)

Additional Details

As of the date of the MD&A, there were the equivalent of 506,379,437 Class A Subordinate Voting Shares outstanding when calculated as if all share classes were converted to Subordinate Voting Shares. For further details regarding 4Front’s share structure, please see its profile at www.thecse.com.

Conference Call

The Company will also host a conference call and webcast on Monday, August 31, 2020 at 5:00 p.m. EDT to review its operational and financial results and provide an update on current business trends.

To join the call, dial 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries. The webcast, which will include a slide deck, can be accessed at this link.

The call will be available for replay until Monday, September 7, 2020. To access the telephone replay, dial 844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and use this replay pin number: 13708994.

Financial Statements
The condensed consolidated interim financial statements for the three and six months ended June 30, 2020 and 2019, have been prepared in accordance with IAS 34 – Interim Financial Reporting. These statements have not been reviewed by an auditor.

Note Regarding Non-IFRS Measures, Reconciliation, and Discussion

In this press release, 4Front refers to certain non-IFRS financial measures such as Systemwide Pro Forma Revenue and Adjusted EBITDA. These measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. 4Front defines Systemwide Pro Forma Revenue as total revenue plus revenue from entities with which the Company has a management contract, or effectively similar relationship (net of any management fee or effectively similar revenue) but does not consolidate the financial results of per IFRS 10 – Consolidated Financial Statements. 4Front considers this measure to be an appropriate indicator of the growth and scope of the business.

Adjusted EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization less share-based compensation expense and one-time charges related to acquisition and financing related costs, excluding fair value adjustments for biological assets. 4Front considers these measures to be an important indicator of the financial strength and performance of our business. The following tables provide a reconciliation of each of the non-IFRS measures to its closest IFRS measure.

 About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.

Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website

4Front Investor Contacts
Andrew Thut, Chief Investment Officer
IR@4frontventures.com
602-633-3067

Phil Carlson / Elizabeth Barker
4FrontIR@kcsa.com
212-896-1233 / 212-896-1203

4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206

This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.

Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.

The post 4Front Announces Second Quarter 2020 Results and Business Update appeared first on 4Front.

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4Front Announces Fiscal Second Quarter 2020 Earnings Date and Conference Call

PHOENIX, Ariz., August 27, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announces it plans to issue its fiscal second quarter 2020 earnings press release on Monday, August 31, 2020, after U.S. markets close, commensurate with the filing of its unaudited financial results.

The Company will also host a conference call and webcast on Monday, August 31, 2020 at 5:00 p.m. EDT to review its operational and financial results and provide an update on current business trends.

To join the call, dial 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries. The webcast, which will include a slide deck, can be accessed at this link.

The call will be available for replay until Monday September 7, 2020. To access the telephone replay, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and use this replay pin number: 13708994.

To receive company updates and be added to the email distribution list please sign up here.

###

About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.

Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.

4Front Investor Contacts
Andrew Thut, Chief Investment Officer
IR@4frontventures.com
602-633-3067

Phil Carlson / Elizabeth Barker
4FrontIR@kcsa.com
212-896-1233 / 212-896-1203

4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206

This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business.

Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.

The post 4Front Announces Fiscal Second Quarter 2020 Earnings Date and Conference Call appeared first on 4Front.

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What is Berber Carpet? Is It Worth Your Money?

Are you looking for the best type of carpet for your home? One of the top choices for most consumers is the berber carpet. Find out why below:

History

The history of berber carpet dates back several centuries. Originally handmade by artisans working in the berber region, the carpet featured bold colors and unique designs. Modern berber carpets now feature some of the same designs, but most shoppers prefer a neutral design in a color that matches the rest of their home. The carpet features a strong backing made from nylon or another material. Manufacturers wrap the carpeting material around the backing and pull it through the front, which results in large loops. Though traditional berber carpet used wool, modern manufacturers now use a combination of different materials. Source: Improvenet

Features

When choosing a modern Berber carpet, your options include:

• Loop style: The size of the loops can vary from low and tight to high and loose. The loops can be a uniform height or they can vary in height.
• Color: While traditional Berber carpets are bright, modern Berber carpets can be virtually any color, including a vast array of neutrals. A popular option is multicolored Berber carpet with flecks of color throughout.
• Carpet fiber: The highest-quality (and priciest) Berber carpets are made from wool and nylon. Berber carpets can also be made from less-expensive olefin (polypropylene), polyester or a mix of fiber blends. Source: FamilyHandyman

Pros

In addition to the relatively low cost, a big advantage of Berber carpet is that it is fairly easy to clean spills and stains. Because of the looped construction, spills tend to sit on the surface of the carpet, so if you can get to them early, you will likely be able to prevent them from sinking into the fiber.

Many Berbers are multi-colored or have the traditional color fleck, which makes them great for hiding soiling and any stains that do occur.

Cons

One disadvantage of Berber is the possibility of snagging and/or running. With a loop construction, things can get caught in the loop and pull it out. It does require a lot of force to snag a Berber. It could happen by dragging a piece of furniture across the carpet; it is not likely to happen by driving a toy car on the carpet. Source: TheSpruce

Are you interested in having berber carpet installed? Or perhaps you already have it at home but it’s starting to look outdated or worn out? We can help you. Call us!

The post What is Berber Carpet? Is It Worth Your Money? appeared first on Curlys Carpet Repair.

3 Best Flooring Options for Families with Toddlers

Safety is the number one priority when you have kids at home. One way to protect them from injuries is to choose flooring where they can play and run around without worrying about spills and slips. Here are the top choices to consider:

Carpet

Carpet is a great option if you’re looking for flooring that’s soft under the feet. Carpet is also a natural insulator, so it helps absorb sound, can prevent slips, and provides some extra cushioning for any accidental falls. These are all important considerations to keep in mind if you have kids running about.

Carpets come in a variety of styles and colors that can match any room. Dark carpets can make your room feel warmer, while lighter carpets can make your room feel more open. Just remember that lighter carpets also show stains and dirt more easily than darker carpets do. If orange juice stains or even crayon marks are a concern, consider a darker color. If you want to preserve your carpet, it’s best not to provide a large blank canvas for your child’s early attempts at painting. Source: BuildDirect

Cork

When installed, cork is naturally soft and yielding beneath your feet, and it can be made even softer by purchasing thicker tile materials. This is despite the fact that it looks quite a bit like more solid hardwood.

However unlike carpet, cork floors are anti-microbial, and the material will naturally repel the growth of mold and other microorganisms. It is also anti-static and will repel dirt and dust, making a room cleaner and healthier naturally. When installed and sealed properly it can be made nearly impervious to stains, and maintenance is usually just sweeping or vacuuming periodically.

There are also a few drawbacks. Cork is very soft, which means that it can be damaged relatively easily. If you have pets, especially large dogs, their untrimmed nails can scratch and destroy the surface of a cork floor. The pointed edge of hard plastic children’s toys can also cause rips, tears, and gouges in the material. This can be offset to some extent by using cork tiles, which can be spot replaced as needed. Source: TheSpruce

Rug

Haven’t got the time or budget to re-do the floors? Here’s the cheat’s option – just pop down a rug! Seriously. A bright, colourful rug doesn’t just lift the room and add a pop of colour. It also protects your floors from spills and marks, and keeps the kids safe from slips. Place it down in a high foot traffic area – such as a long piece down the hallway. Then just move it around whenever and whenever you fancy. Source: KidSpot

We can help you pick the perfect carpet that won’t only keep your kids safe from harm but will also fit your style. Call us today!

The post 3 Best Flooring Options for Families with Toddlers appeared first on Curlys Carpet Repair.

3 Things You Can Do To Stop Carpet from Fraying

Did you know that dragging your furniture or keeping the carpet dirty can make it more prone to fraying? When you start to notice the carpet edges turning into a messy tangle of fibers, stop it from getting worse by following these easy tips:

Inspect what causes the fraying 

Do not trim the frayed carpet with scissors if the carpet is still under warranty. Fraying in other areas of the room may indicate a problem with the carpet. Review the warranty and contact the dealer or manufacturer to discuss a solution. Check the furniture for exposed wood or metal that might be fraying the carpet. Look at the legs and feet and turn the furniture over to view the bottom of the feet. Exposed nails and missing hardware can snag and fray carpet. Repair the furniture and the fraying will end. Source: eHow

Use a seam sealer

Seam sealer is designed to keep seams together for the long term. They do a good of keeping it together. Apply the sealer to the gap and allow it to dry. Be sure to apply gentle and constant pressure so that the seam is sealed properly. Source: DoItYourself

Glue the sides

With a hot glue gun, you can work on the frayed edges and seal them. You will save time as well as the cost of repairing. The glue is specifically targeted to the backing of the carpet, hence very effective in solving the fraying problem. With adequate practice, you can seal the frays in a short while and continue with other chores at home. Source: RealtyTimes

Carpet damage can be tricky to repair. You need the right tools to make the job easier for you. And more often than not, hiring a professional to do the carpet repair is a no-brainer compared to the cost of renting the equipment plus the effort it will require for you to finish the job. So if you need help on any carpet-related problems, don’t hesitate to give us a call!

The post 3 Things You Can Do To Stop Carpet from Fraying appeared first on Curlys Carpet Repair.

Watch Out for These Signs of Carpet Mold

Molds are health hazards that can easily spread if left unchecked. Keep your eyes open for the following clues to catch them early on.

Worsening allergies

Carpet mold can cause several health problems such as allergies, breathing troubles, asthma, and bronchitis. If you notice a higher incidence of such conditions in the members of your household, you must consider the possibility of carpet mold in your home. If the walls and floors in your home and basement look clean, be prepared for a thorough inspection of the carpet. 

Musty odor

Smell the carpet for pungent musty or sour odors. Don’t place your nose closer than 2 inches from the carpet, do not inhale deeply or smell at one area for more than a moment or so. Mold and mildew stains are composed of spores which cause health issues when too much are inhaled. Source: HomeGuides.SFGate

Discoloration

In most cases, when the mold growth reaches an advanced stage, you can see discolored patches on your carpet. Most of the time, these patches are white, black, or various shades of green. The color is caused by the mold colony multiplying on your carpet. Source: DoItYourself

Look underneath

Sometimes mold grows underneath a carpet before it starts growing on the top. If you’re inspecting an area rug, turn it over and check the bottom for mold. If you suspect there’s mold growing in your wall-to-wall carpeting, you may need to hire a professional to lift up the carpet and inspect it for you. Source: WikiHow

Water Damage

If padding beneath the carpet has become wet for any reason, or has become moist from condensation, the padding as well as the carpet on top are at risk for mold growth. The padding may need to be replaced, as will the carpet, in some cases. Source: NACHI

The post Watch Out for These Signs of Carpet Mold appeared first on Curlys Carpet Repair.

Before and after: Nyalic clear finish metal protectant

In a prior post, we introduced the benefits of Nyalic and explained the process. Here, we’ll share a couple striking ‘before & after’ examples.

Quick Recap:

Nyalic is a clear coat, finishing product that when used on faded, oxidized pre-finished surfaces, rejuvenates and restores the surface to a like-new appearance, blocking UV rays and limiting chalking or discoloration. In our experience, we most commonly use it on metal window frames, flashings and railings.

Current Project in False Creek

 

Remdal is working hard on a concrete restoration and high-rise painting project in False Creek that includes Nyalic application to the window frames, flashings and railing. The window frame on the left has been cleaned and coated whereas the one on the right shows the faded, weathered condition many of these frames progress to over time.

 

This engineer-specified project also includes vent replacement. You can see the old vents we are removing (some falling off the building in the picture on the right) and the new, improved ones we already installed (on the left). The difference is significant.

Did they install new windows this summer?

In 2018, we painted an Abbotsford school and this project included applying Nyalic to the window frames. When the teaching staff saw how great the windows looked, one even asked if the windows were brand new. The photo shows the top floor completed and the lower floor has only been cleaned. It’s a great example of how Nyalic can rejuvenate these surfaces to their original beauty.

Can you just paint the frames?

Of course, painting is an option and some buildings choose to do so. That said, once you paint the metal frames, they become an ongoing maintenance item prone to peeling, chipping and fading. When access is challenging this can be a costly item to re-do every few years. Also, Nyalic refreshes the original finish so beautifully, it truly seems the best choice when it’s an option.

Key Takeaway:

Nyalic allows for a simple renewal of the clear finish. This is often more cost effective than painting the relevant surfaces, without the risk of peeling or future repainting maintenance costs. For a step by step of the process, visit our blog post here.

Contact us 604.882.5155 or info@remdal.com for more information to see if this can be the solution you need.

The post Before and after: Nyalic clear finish metal protectant appeared first on Remdal.

4Front Ventures Granted Final State Approval for Adult-Use Cannabis Sales at its Mission Facilities in Georgetown, Massachusetts with a Grand Opening Slated for August 12, 2020

Company Announces its Mission Worcester Facilities are on the Massachusetts Cannabis Control Commission’s August 6 Agenda for Final Adult-Use Licensing

PHOENIX, Ariz., August 4, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company“) announced that the Massachusetts Cannabis Control Commission (“CCC”) has granted 4Front’s Mission dispensary and cultivation/processing facilities in Georgetown, Massachusetts, authorization to commence adult-use retail and production operations. The Company will host a Grand Opening for adult-use sales on August 12, 2020.

The Company also announces that its Mission dispensary and cultivation/processing facilities in Worcester, Massachusetts are on the Massachusetts Cannabis Control Commission’s August 6 agenda for final adult-use licenses.  If approved, these facilities will be open for adult-use sales pending a final inspection and authorization by the Commission.

Entry into the adult-use market significantly expands 4Front’s total addressable market and is expected to drive both top-line and bottom-line growth at the Company in the second half of 2020 into 2021. Massachusetts is a core growth market for 4Front, with the Company also executing its fully funded expansion plans that are underway at its Georgetown, Massachusetts production facility, which are expected to significantly increase its output from this location to meet market demand.

“Commencing adult-use licensure is a milestone for the Company and we would like to thank the CCC for its support during the licensing process,” said Leo Gontmakher, CEO, 4Front Ventures. “Consistent with our Company’s culture of setting operational goals and executing upon them, it’s great to see the building momentum as we announce another of what I expect to be many achievements in the back half of this year. I am proud of the hard work from each of our employees in making this happen. We can now look forward to accelerated growth in Massachusetts as our total addressable market opens-up significantly. We continue to move toward adult-use licensing at our Mission dispensary and production facilities in Worcester, Massachusetts, which we are hopeful will occur before the end of the summer.”

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About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.

Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website www.4frontventures.com.

4Front Investor Contacts
Andrew Thut, Chief Investment Officer
IR@4frontventures.com
602-633-3067

Phil Carlson / Elizabeth Barker
4FrontIR@kcsa.com
212-896-1233 / 212-896-1203

4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206

This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.

Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.

The post 4Front Ventures Granted Final State Approval for Adult-Use Cannabis Sales at its Mission Facilities in Georgetown, Massachusetts with a Grand Opening Slated for August 12, 2020 appeared first on 4Front.

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