PHOENIX, Oct. 28, 2021 /PRNewswire/ – After being awarded its Business License (“License”) from the City of Commerce, California, 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), a vertically integrated, multi-state cannabis operator and retailer, announced it has commenced operations at one of the largest, most efficient cannabis manufacturing facilities in the world. The Company’s 170,000 sq. ft. facility (the “Commerce Facility” or “Facility”) will manufacture both in-house and partner brands, including infused pre-rolls, gummies, hard candies, fruit chews, caramels, mints, soft gel capsules, vapes, tinctures and other manufactured infused products.
4Front Commerce Facility Highlights
- 170,000 sq. ft. manufacturing Facility, located outside of the City of Los Angeles
- 80,000 sq. ft. of distribution and warehousing space
- 25,450 sq. ft. of finished goods storage
- 3,931 sq. ft. of dry flower storage
- Currently producing nine of 4Front’s 20 brands and 164 different SKUs
- Advanced machine and automation technologies and expert commissioning
- Produces a minimum of 10 times more product per shift than the Company’s largest managed facilities in Washington
- Distribution partnership with Nabis, a fully-licensed cannabis wholesale platform with the largest portfolio of cannabis brands in the world, supplying 100% of California’s dispensaries and delivery services1
- Cost-effective wholesale solutions void of overhead capital infrastructure costs
“I want to thank the City of Commerce for granting us approval to commence operations at what we believe to be one of the largest, most efficient processing facilities in the world,” said 4Front CEO Leo Gontmakher. “The manufacturing scale of our Facility is first of its kind, and the response we’ve seen during our pre-commercial sales has been tremendous. With our suite of brands, custom-built automated machinery, signature low-cost production and manufacturing capabilities, we’re confident our Commerce Facility will enable us to emerge as one of the top high-quality cannabis producers and price leaders in one of the largest and most competitive marketplaces in the world.”
4Front’s Commerce Facility announcement comes on the heels of its definitive agreement to acquire New England Cannabis Corporation2 (“NECC“), a best-in-class cannabis cultivator with facilities based in Holliston, Massachusetts (the “Transaction“). With 4Front’s Commerce Facility now online, and upon the closing of the NECC Transaction, the Company aims to immediately begin scaling its presence as a dominant wholesaler and producer in the two adult-use markets of Massachusetts and California.
Mr. Gontmakher continued, “Today’s announcement is another significant milestone in 4Front’s journey and cements our position as one of the most efficient cannabis operators capable of producing finished goods at scale. This Facility, along with our previously announced acquisition of NECC, completes the infrastructure needed to fuel our growth expectations as we look forward to 2022. With disciplined execution, enhanced production capabilities and innovation, we are anticipating a strong finish to the year, and with these pieces in place, have established a great foundation for a robust 2022.
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1 Source: https://nabis.com |
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2 For more information on the Transaction, see the Company’s press release dated October 7, 2021, and the Form 8-K filed with the Securities and Exchange Commission (“SEC”) on October 8, 2021 (File no. 000-56075). |
About 4Front Ventures Corp.
4Front Ventures Corp. (“4Front” of the “Company”) (CSE: FFNT) (OTCQX: FFNTF) is a national, vertically integrated multi-state cannabis operator with operations in strategic medical and adult-use cannabis markets, including California, Illinois, Massachusetts, Michigan, and Washington. Since its founding in 2011, 4Front has built a strong reputation for its high standards and low-cost cultivation and production methodologies earned through a track record of success in facility design, cultivation, genetics, growing processes, manufacturing, purchasing, distribution, and retail. To date, 4Front has successfully brought to market more than 20 different cannabis brands and nearly 1,800 unique product lines, which are strategically distributed through its fully owned and operated Mission Dispensaries and retail outlets in its core markets. As the Company continues to drive value for its shareholders, its team is applying its decade of expertise in the sector across the cannabis industry value chain and ecosystem. For more information, visit https://4frontventures.com/.
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 including our manufacturing and production capability and expectations regarding our growth and results, statements regarding when or if transactions will close or if/when required conditions to closing are attained, the impact of the transactions on the business of 4Front, the position of 4Front in the markets of California and Massachusetts 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 satisfying closing conditions, [obtaining regulatory approvals]; and engagement 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.
Source: PRNewswire