PHOENIX, Ariz., August 4, 2020 -PRESS RELEASE- 4Front Ventures Corp. announced that the Massachusetts Cannabis Control Commission has granted 4Front’s Mission dispensary and cultivation/processing facilities in Georgetown, Mass., authorization to commence adult-use retail and production operations. The company will host a Grand Opening for adult-use sales on Aug. 12, 2020.
4Front also announced that its Mission dispensary and cultivation/processing facilities in Worcester, Mass., are on the CCC’s Aug. 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 of 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, Mass., which we are hopeful will occur before the end of the summer.”
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