4Front Ventures Provides Illinois Market Update and Announces Completion of Sale of Non-Core Assets in Maryland
Start of construction on Calumet, Illinois Dispensary of missions
Kris Krane appointed to the Advisory Committee on the Health of Cannabis for Adult Use by Illinois Governor Pritzker
PHOENIX, September 24, 2020 / PRNewswire / – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4 Before“or the”Company“) continues to focus its efforts on Illinois market and is pleased to announce the start of construction of a new mission dispensary in Calumet, Illinois. The Company also announces the appointment of the President Kris krane to the Illinois Cannabis Health Advisory Committee for Adult Use by Illinois Governor Pritzker.
Mission City of Calumet
Construction of the new Mission Calumet City dispensary began in early September, which will serve both adult clients and medical patients. Located at 1330 Torrence Avenue, across from River Oaks Center, the new location will include ample parking as well as approximately 3,000 square feet of finished retail space, back office space, secure vault and oversized for substantial stock storage and advanced security system. .
“The Illinois the market has been a triumph since the implementation of adult cannabis and we are excited to expand our operations in the state to better serve the customers and patients who depend on Mission, ”said Gabe Mendoza, Vice President of Operations for Mission. As with our Mission South Chicago location, Mission Calumet City is committed to becoming a contributing member of the City of Calumet community and play our role in the region’s ongoing economic revitalization by providing a safe and beautiful home for all cannabis-related matters. ”
The new store is expected to complete construction and begin serving customers before the end of the year.
Kris Krane appointed to Illinois Adult Health Advisory Board
In order to build a team of experts and diversified leaders in the field of cannabis, Illinois Governor JB Pritzker announced more than two dozen appointments to the state’s Cannabis Health Advisory Board for Adult Use, including the president of 4Front Kris krane. The Cannabis Health Advisory Committee for Adult Use will be responsible for reporting on the impacts of legal cannabis on public health and making recommendations for future policy and regulatory changes to have a positive impact on public health. overall health implications of legal cannabis in the future.
“It is truly an honor to have been appointed by Governor Pritzker to serve on the Governor’s Adult Use Health Advisory Committee, with many distinguished members of the public health, education, treatment and cannabis, “said Kris krane. “Under the leadership of Governor Pritzker, the initial deployment of Illinois’ The adult cannabis market has been very successful and is a model for other states looking to implement a legal cannabis market. It’s great to see the voices of cannabis advocates represented on this committee, and I look forward to the work ahead to maintain Illinois’ leadership in the US cannabis market. ”
Sale of assets in Maryland
4Front also announced that it has finalized the sale of three Maryland dispensaries at Ethos Cannabis for approximately $ 5.5 million we
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About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a multi-state, national cannabis operator and retailer, with a market advantage in quality, mass-produced, low-cost 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 strategically positioned Mission branded outlets and their chain of dispensaries.
Based at Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, the 4Front team applies their expertise to the entire cannabis value chain. For more information visit the 4Front website www.4frontventures.com.
This press release has been prepared by the management of 4Front Ventures, which takes sole responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and accepts no responsibility for the adequacy of this press release. Neither CSE nor its regulatory services provider (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to sell the securities in United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered. or sold in United States or to US Persons, unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
Statements in this press release that are forward-looking statements are subject to various risks and uncertainties regarding specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulatory authorities. When used in this press 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 relating to future developments and the activities and operations of 4Front Ventures, developments relating to legislative developments in United States, expectations regarding the COVID-19 pandemic, future revenues or expectations for Adjusted EBITDA, statements regarding the closing date of planned or ongoing transactions or if / when the required regulatory approvals are obtained, and d ‘other statements regarding future developments of the company. The closing of the transactions described in this press release, including the divestiture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no assurance that such transactions will be concluded.
While 4Front Ventures has attempted to identify material factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that may cause actual results, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that may cause that the results, performance or achievement are not as expected, estimated or expected, including, but not limited to: reliance on obtaining regulatory approvals; invest in target businesses or projects that have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; modification of laws; limited operating history; dependence on management; additional financing needs; competition; hamper market growth and state adoption due to inconsistent public opinion and perception of the medical and adult marijuana industry and; regulatory or policy change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates regarding 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.
Therefore, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release. 4Front Ventures disclaims any intention or obligation to update or revise this information, except as required by applicable law, and 4Front Ventures assumes no responsibility for the disclosure relating to any other company mentioned herein.
SOURCE 4 Before