PHOENIX, Aug. 4, 2020 /CNW/ -- 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 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."
For more information about 4Front Ventures, visit their investor profile page.
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.