First Products to Hit California Shelves in Q2 2021
PHOENIX, AZ, Nov. 24, 2020 /CNW/ - 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company") is pleased to announce that its fully funded state of the art 185,000 square foot production facility in Commerce, California is nearing completion and will be ready to serve the $3b California cannabis market in Q2 2021. The project is on target to be completed in April 2021 with the Company planning for the first of its full line of edibles, tinctures and vape products to be on California retail shelves by May.
Leveraging the market dominating best practices of its Washington facilities, 4Front has successfully introduced its products and brands into Massachusetts, Illinois and soon to be California. The automated state of the art Commerce facility incorporates unprecedented capacity for finished goods manufacturing, similar to the scale seen in the traditional consumer packaged goods industry. Commerce will have the ability to produce over ten times the current capacity of 4Front's 40,000 square foot Washington production hub, which is currently the number one producer of derivative cannabis products in Washington State.
The successful closing of a C$17.25 million bought deal financing provides the Company with all it needs to finish the California facility and to replicate its proven high quality /low-cost production strategy that has been so successful in even the most competitive of cannabis markets such as Washington State.
"We're thrilled to be in California and to be completing our largest and most automated manufacturing facility yet," stated Leo Gontmakher, Chief Executive Officer of 4Front. "Our experience in Washington, Massachusetts and Illinois, where we excel in low-cost manufacturing at scale, uniquely positions us to successfully compete in one of the largest, if not the largest, cannabis markets in the world."
Mr. Gontmakher continued, "This facility is almost finished and with our large-scale customized production line will produce a minimum of ten times more product per shift than the largest of our other locations. I am not aware of a production facility in the country which will rival us in either size or efficiency and we are poised to attack the California market in a manner that the rest of the industry has been unable to do.
"In short," said Gontmakher, "this facility is expected to produce quality product at scale and at a price point that pleases both retailer and consumer. Being the lowest cost producer is our strategy for every state in which we operate, and I am excited to soon announce further capacity expansions in Illinois and Massachusetts as well."
To learn more about 4Front Ventures, visit their profile page.
View the original press release 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.