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.

from 4Front https://ift.tt/2YEPXFG

Get Your Home Ready for Fall with These Easy Tips

Autumn is almost here! Bring out the hot chocolate, fuzzy blankets, and scented candles as you prepare to stay warm and safe in the comfort of your home after following these tips:

Inspect the roof
You should be able to do at least a visual inspection of the roof from the ground. Grab some binoculars to get a closer look or if you’re able and can do so safely, climb on up for a better view. Look for missing, damaged, or loose shingles. If your roof is flat, you may need to remove leaves and debris.

Have the chimney cleaned
If you have a wood fireplace and use it often, have your chimney cleaned and inspected by a professional. Source: Lifehack

Prepare the tools you need
Now is a great time to rummage through your garage or shed and get all your fall and winter tools in one, easy accessible location. Nothing is worse than trekking through the snow in search for a snow shovel.

For fall: leaf blower, broom, rake, gardening tools (bulb planting!)
For winter: ice scraper, ice salts, snow shovel, snow blower Source: HGTV

Transform your environment
Since we’re likely to spend more time indoors during autumn and winter it’s a good idea to give your rooms a fresh lick of paint (if you haven’t already done so during lockdown). Giving your walls a new lease of life, even with wallpaper, a wall mural or perhaps new artwork, will brighten the space and be more pleasing to the eye. Source: HouseBeautiful

Keep your home warm
Inspect your windows and doors. Check weatherstripping by opening a door, placing a piece of paper in the entryway and closing the door. The paper should not slide back and forth easily. If it does, the weatherstripping isn’t doing its job.

Also, now’s the time to re-caulk around windows and door casings, if needed. Source: Zillow

Need a pro to check if your roofing, chimney, and gutters are fall-ready? Call us today!

 

Contact:
Kerrisdale Roofing & Drains
8296 Ross St, Vancouver, BC V5X 4C6
(604) 360-2114

Basic Things You Need to Know about Gutters

Mostly overlooked, gutters are actually very important to prevent flooding and damage to your home. Here are some things you should know about them:

Are Gutters Necessary?
First, figure out if your house really needs rain gutters. Most do, but there are exceptions, so consider the following:
– If your roof has no overhang or only has a few inches of overhang, it’s likely that water will accumulate against the foundation, damage flowerbeds near the foundation, and/or pour down on people as they enter or exit your home. In this scenario, gutters are a must.
– If your home has a sharply peaked roof with an overhang of 12 inches or more, rainwater will naturally tend to cascade out and away from the house, rather than dripping straight down to the ground to puddle against the foundation. In this case, gutters may not be necessary.
– If your house is higher than the surrounding landscaping, water is unlikely to pool around the foundation, making gutters optional. But if the house is slightly lower than the surrounding ground, gutters are required to channel runoff a sufficient distance from the foundation. Source: BobVila

Materials to Choose from
– Aluminum gutters: Most common of all types of gutters, these are inexpensive, lightweight and easy to install. They’re weather-resistant and available in many colors.
– Vinyl gutters: Vinyl gutters are simple to install and rust-resistant. Like aluminum, they come in a wide variety of colors. However, they’re not as strong as other types and tend to become brittle in cold weather — which can lead to cracking.
– Galvanized steel gutters: The most economical gutter, they are very strong and durable. However, they must be treated to prevent rust.
– Stainless steel gutters: These are popular because they are very strong, maintain their sheen and will not rust. They are costly, though. Source: Networx

Sectional vs. Seamless
The final thing to consider is whether you want sectional versus seamless gutters. Most materials are only available in sections that are joined and fastened together as they are installed. Aluminum gutters, however, are now available in seamless varieties, custom made to fit your home out of single, long sheets of metal. The advantages here are obvious. The most common place a gutter fails after years of wear is at the joints and seams. A seamless gutter will never have this problem, making it a popular choice for those who can afford the extra cost. Source: HomeAdvisor

Do you have any gutter-related needs? We’ll be more than happy to take care of them for you. Contact us for a free estimate!

 

Contact:
Kerrisdale Roofing & Drains
8296 Ross St, Vancouver, BC V5X 4C6
(604) 360-2114

Types of Dormer Roof

Dormer windows are placed on sloping roofs to let natural light in. If you love lots of sunlight in your attic or room, consider adding a dormer on your home by choosing from its many variations. Here are some:

Flat
An extension of the shed roof dormer is the flat roof dormer. In this modern building in Germany, you can see that dormers are hardly an old-fashioned idea. Postmodern architects often take traditional architectural details and turn them on their heads.

Hipped
The hipped roof dormer is slightly less popular than gable and shed dormers, but it’s more elegant. It often mimics the hipped roof of the house itself. A hipped roof has four sloping sides that come together in a peak, rather than a gable which has just two sloping sides. Source: TheSpruce

Bonnet
A bonnet dormer has a curved roof and vertical walls on either side of the window. It’s common to install arch-top windows in bonnet dormers so the top of the window matches the arch of the bonnet.

Wall
This type of dormer can feature any one of the above styles of roofs, but it’s defining feature is that the front of the dormer is an extension of the exterior wall below. Instead of setting back in the middle of the roof, the siding on the main part of the house continues right up into the dormer, making the front of the dormer flush with the front of the house. Source: BobVila

Pyramidal
When a hipped dormer projects from a roof at a 45-degree angle, it takes on a pyramidal shape. This design is unusual but creates an opportunity for a nearly wrap-around view because there are spaces for windows that look out in two directions.

Recessed
Recessed dormers, also known as inset dormers, have one or more walls that are set into the roof, rather than placed on it. This style of dormer allows the windows to be deeper than they might otherwise be. Source: ThisOldHouse

Roof-related projects can be costly, but they’re worth the investment because if done right, they can last a lifetime. Leave it to us!

 

Contact:
Kerrisdale Roofing & Drains
8296 Ross St, Vancouver, BC V5X 4C6
(604) 360-2114

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.

Types of Flat Roof

One of the best roofing options for contemporary homes due to their modern, sleek design is a flat roof. But did you know that there are actually several types of flat roofing that you can choose from? Take a look below to see which one you think would be best for your home.

Built-Up Roof (BUR)
The traditional hot-tar-and-gravel roof is built from three or more plies of waterproof material alternated with hot tar and ballasted by a layer of smooth river stone. Once made of tar paper, these types of roofs gradually are using more-advanced materials such as fiberglass membranes.

Pros
– Gravel is an excellent fire retardant.
– Attractive for windows and decks that overlook the roof.
– It’s the cheapest of the four roof varieties.

Cons
– Very heavy.
– Joists sometimes have to be strengthened.
– Smelly and messy to install.
– Installation’s not recommended for occupied homes.
– It’s not a DIY installation job, and it is hard to find the source of leaks.
– Gravel can clog gutters and scuppers. Source: ThisOldHouse

Ethylene Propylene Diene Monomer (EPDM)
EPDM roofs are made of rubber. The material used is very durable and looks a lot like the material used in inner tubes. There are 3 different ways to install EPDM or rubber membrane roofing. It can be anchored using fasteners, ballasted or glued down.

This material is one of the easiest of the different types of flat roofing. Leaks in this type of roofing are fairly easy to patch and the material is light weight, but very durable. However, this material is slightly more prone to puncture than other types. The black version of this form of roofing soaks up a great deal of sun and is not generally recommended for extremely hot climates. There is a lighter version for hot climates, but it is much more expensive. Source: DoItYourself

Sprayed Polyurethane Foam (SPF)
Sprayed polyurethane foam is a relatively new product that is sprayed onto the roof as a liquid in order to form a single, continuous, seamless structure. Because foam is flexible and lightweight, it’s perfect for irregularly shaped roofs and protrusions. For re-roofing, SPF also eliminates the need to remove the previous roof, since it can be applied directly over existing roof installations, including asphalt shingles, built-up roofs, clay tile, concrete, metal, and wood. Foam roofing systems are easy to maintain, and with a high insulation value, they can combat some of the heat issues common with flat roofing. The only downside is SPF’s track record. It just doesn’t have much of one yet, so you’re taking a little bit of a risk by going with this product. Source: HomeAdvisor

We can help you choose the type of roofing design and materials that will fit your location, style, and budget. Call us for a free estimate!

 

Contact:
Kerrisdale Roofing & Drains
8296 Ross St, Vancouver, BC V5X 4C6
(604) 360-2114

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.”

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. 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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